As a Responsible Reporting Entity (RRE), it's not an option to inaccurately or incompletely report Medicare-related settlement claims under Section 111 requirements. It also doesn’t make sense to report them properly, then fail to submit payment to Medicare. In both cases, the penalties are too steep to justify any sort of negligence.
Reducing cycle times, paid costs, and reserves is a top priority of nearly every leader in the personal injury insurance industry. These key metrics help determine the financial viability of a company and can be the determining factor for keeping employees.
However, optimizing the process for reporting and recovery of conditional payments for Medicare beneficiaries is often not a top priority. Here are three ways to improve this process and begin to save money and jobs.