Promised recoveries not coming through? Lots of “in investigation” or “pending” cases?
 

Questions you should ask yourself or your subrogation vendor.
Your answers will earn $1,000—No Red Tape!

Why are we doing this?
 
SRP believes that if claim payors actually review a subrogation vendor's recovery results versus their promises, they will quickly see that a better approach is available, and that more revenue can be earned from recoveries by making simple changes. We consider our $1,000 payment a small investment to helping potential new clients see immediate value.

The process:

1. Preview the Data Mining Questionnaire found below
2. Gather statistics and details as prompted in the questionnaire
3. Schedule a “no obligation” conference to review your answers with SRP
4. A check for $1,000 is sent completing the questionnaire with SRP

NOTE: Written responses are not required; however SRP does expect that you will be able to professionally articulate informed answers about your current subrogation practices.

Read article, "Data Mining Myth EXPOSED"

Questions to ask yourself or your subrogation vendor:

• What percentage of completed accident questionnaires are opened as a potential recovery case versus not?
• How many new "potential" cases are identified each month?  And of those, how many actually result in a recovery within 18 months?
• How many "closed without recovery" cases do you record each month or in a given year?
• What is the ratio of open / active inventory dollars versus dollars recovered on a monthly basis?
• At what percentage of the lien are the actual recovery cases being settled?
• What is the ratio of open, or active, cases where the plan member is represented by an attorney to those where the member is not?
• How many open, or active, cases where the member is not represented by an attorney have been open for greater than one year?
• Are you very aware of the number of active and closed cases and recoveries being made? If so, through what methods?
• Does your subrogation firm track the policy limits available in your cases?
• What contingent fees are you paying to your current subrogation vendor?
• What revenue are you, the claim payor, earning on recoveries?