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Insurance Claims Processing Services

Overview

ProcurementIQ’s Insurance Claims Processing Services Procurement Research Report offers purchasing insight into the Insurance Claims Processing Services market. Our analysis dissects pricing trends and the supply chain, including highlighting key suppliers and their financial benchmarks. The report also provides key pieces of take-away intelligence, such as negotiation question preparation and a buying decision scorecard, which includes factors weighted according to their importance in the decision-making process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard
REPORT SNAPSHOT

Insurance Claims Processing Services - Recent Price Trend

The price of insurance claims processing services has been rising at an estimated annualized rate of 2.1% in the three years to 2018, which has hurt buyer power. Additionally, moderate price volatility has also worked to undermine buyers’ ability to budget accurately for purchases, further eroding buyer power.Growth in rates for services has been motivated by stronger demand for insurance claims.

Insurance Claims Processing Services - Total Cost of Ownership

Part of the appeal of insurance claims processing service providers is that they offer a comprehensive package for processing claims, thus serving as a one-stop shop for all claims management and fulfillment needs. Buyers benefit from this market characteristic because there are few hidden costs associated with procuring these services. In the case of medical claims, suppliers might require that.

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About this Report

This report is intended to assist buyers of insurance claims processing services. Insurance claims processing services help buyers reduce the costs associated with their claims management system by outsourcing the process to a firm that specializes in this field. The services provided by these firms involve front-end claims acceptance, data entry, claims pre-adjudication, claims adjudication and adjustments, coordination of benefits processing and explanation of benefits processing. These services can benefit various types of insurers, including health and medical insurance carriers, life insurance carriers and property, casualty and direct insurance carriers. This report does not cover the distribution of retirement and pension funds.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Regulation
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
  Imports
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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