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Procurement Market Intelligence Report

Claims Management Software
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Claims Management Software?

What is the average price of Claims Management Software?

This procurement report includes pricing information to help you purchase Claims Management Software. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Claims Management Software been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Claims Management Software yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Claims Management Software?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Claims Management Software with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Claims Management Software?

There are roughly 375 companies operating in the claims management software market. Market share concentration among claims management software suppliers is low, with the top four players accounting for less than 30.0% of total market revenue. Low market concentration encourages competition between vendors because no single vendor commands a significant... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Incentives

Do you offer any complementary products or services with the purchase of claims management software? If so, what are they?

What additional features do you offer separate from the purchase of this software?

What type of discounts do you offer for specific types or brands?

What type of trials do you offer?

Do you offer any training and support services?

Do you have any agreements with group purchasing organizations or integrated delivery networks?

Quality Control

How often do you experience bugs with your software? To what degree are in-process inspections and process controls carried out?

What is the quality control training process like? How experienced is your inspection personnel?

What proportion of revenue is dedicated to research and development?

What kind of research do you conduct to stay up to date with the latest developments in this field?

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Key elements for every RFP

What should my Claims Management Software RFP include?

Project Budget

Buyers should specify the number of software licenses required.

Buyers should detail the contract term for additional fees, including annual ongoing costs.

Selection Criteria

Buyers should look for vendors that offer software solutions that meet the requirements of the RFP.

Buyers should review the experience of vendors based on client testimonials and their ability to provide quality customer service.

Buyers should evaluate providers based on the estimated costs of the software and services they are providing.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should outline the timeline of the RFP and project.

Buyers must include the date when proposals are due and when the award information will be available.

Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of (e.g. demonstration dates).

Evaluate major factors to mitigate risk

How risky is the Claims Management Software supply chain?

The supply chain for claims management software has a low level of risk. Suppliers require a variety of products and services, including computers and legal services, to develop software and provide support for customers. Although the Trump administration has levied tariffs on billions of dollars' worth of goods, ProcurementIQ projects... Subscribe to learn more.

HIGH

MEDIUM

LOW