Group Benefit Services (GBS) of Springfield, MO Achieves Claim ProcessingTurn-Around Time of Less Than 1 Day
GBS achieves an 18 month goal of claim processing with a turn-around time of less than one day.
Springfield, MO, January 24, 2011 --(PR.com)-- Group Benefit Services (GBS) today announced thatthey have successfully achieved claim processing turn-around time that averages less than 1 day.GBS began its goal of processing all claims in an average of under 1 day back in July of 2009. Since thattime GBS began upgrading its systems, capabilities, and procedures that has enabled them to achieve thisgoal.James Deren, President of GBS reports that the company has had claim processing times of less than 1day since October of 2010. He indicates that the claim processing turn-around time through the month of December was .62 of one day. While moving towards the achieved goal, GBS' average turn-around timewas 2.32 days for the entire year of 2010.GBS' goal of rapid turn-around times did not come at the expense of accuracy or quality. Mr. Deren alsoreports that the accuracy ratio is holding steady at 99.98% while the commitment to dedicated claimsservice remains stronger than ever.When asked about what is the overriding factor that helped their firm achieve this lofty goal, Mr. Derenstated; “We have an exceptionally capable staff and have disciplined operating procedures. Our claimsexaminers have an average of 17 years experience each and it is that expertise that allows us to not onlyprovide excellent turn-around times but also pay close attention to the caring service our customers havecome to expect.”The Third Party Administration (TPA) market is very competitive and employers that are self-fundedhave a variety of options for TPA services within the State of Missouri. When asked about whatemployers should look for when selecting a Third Party Administration company Mr. Deren indicatesthat; “The public needs to do their homework. Look at report packages that are being offered as well ashow your firm would work within their operational guidelines. We pride our self on being flexible and infinding ways to save employers time and money when it comes to administering their employee benefitplan.”Research for this report shows that there are TPA firms operating within this State that do not evenpossess an “Authorization to Act as a Third Party Administrator” (An official Third Party Administrator'slicense).Employers should be careful to research this fact when considering a TPA. TPA's that are not licensed donot meet certain requirements set forth by the State that provides added safety for those that seek theirservices.
Group Benefit Services (GBS) is a Third Party Administration and Employee Benefits TechnologyCorporation located in Springfield, MO. GBS provides Employer Based Services which includesemployee benefit consulting and claims administration, Project Based Services that include inception andmanagement of Association Group and Trust programs, and also provides Outsourcing Services for theinsurance industry.Web Address:www.gbs-tpa.com###