Value Drivers are $Money$
A value driver is any information that is used by insurers' software to put a dollar figure on your claim (e.g. injuries and their codes, treatment, duration of treatment, complaints, impairment, loss of enjoyment, etc.).
More often than not, a doctor will write about injuries in his/her report that he/she doesn't include in the diagnosis. For example a doctor may mention in his/her records that the patient/client has a bruise on his/her chest from the seatbelt. That is an injury. Adjusters don't have time to hunt through every claimant's medical records. If an injury is mentioned at all in the medical records, IT MUST BE DOCUMENTED IN THE DEMAND LETTER. Every injury is a value driver, and value drivers compound... making for a larger settlement! Every injury client should have as many injuries and injury codes as possible in their demand letter. There are several common injuries that should be in almost every demand letter. As mentioned above, ICD-9 922.1 - Chest Wall Contusion. If your client sustained a chest bruise from the seatbelt, it isn't too far of a stretch to suggest that she/he probably also sustained a bruised abdomen. ICD-9 922.2 Abdominal Wall Contusion.
It is in your and your client's best interest to make sure that the adjuster has all value drivers ready and easy to input to maximize settlement dollar amount.
I have read thousands of medical records and have written hundreds of demand letters and I can easily spot injuries and complaints, pull them out of the records, and assign codes to them to maximize your client's recovery. (More money for you and your client!)
Showing posts with label Colossus. Show all posts
Showing posts with label Colossus. Show all posts
3/25/2010
12/14/2009
CSC Settles out of Colossus Class Action
Computer Science Corp., CSC, the distributor of the insurance software Colossus, and approximately 581 insurance companies have agreed to settle.
The proposed class action alleges that insurance companies use these software programs e.g. (Colossus) to undervalue bodily-injury claims settlements in an effort to increase profits.
The insurance companies argued that these programs can provide a consistent estimate for bodily-injury claims through data input by the insurance adjusters.
http://www.setexasrecord.com/news/218016-csc-settles-out-of-colossus-class-action
At least 581 insurers are still going to use Colossus to evaluate your claims. You need to make sure that all of your client's value drivers (any information that is used by insurers' software to put a dollar figure on your claim e.g. injuries and their codes, treatments, comlaints, impairments, loss of enjoyment, etc.) are in "the system".
DO YOU REALLY WANT THE ADJUSTER (THE PERSON WHO GETS PAID TO UNDERVALUE YOUR CLIENT'S CLAIM) TO BE THE PERSON TO DETERMINE WHAT YOUR CLIENT'S VALUE DRIVERS ARE?
Adjusters aren't reading traditional demand letters. They don't have time. Nor do they care. They are only taking out value drivers from the records. They are overworked and have very little time per claim. It is in your and your client's best interest to make sure that the adjuster has ALL value drivers ready and easy to input to maximize settlement dollar amount.
GREAT DEMANDS prepares demand letters for personal injury lawyers and their clients. Our demand letters are written to address the requirements of Colossus and other claims evaluation software. They are in a format that makes it easy for the adjuster to input the necessary information, therefore ensuring that ALL critical value drivers are entered to increase your client's claim.
www.GreatDemands.com
The proposed class action alleges that insurance companies use these software programs e.g. (Colossus) to undervalue bodily-injury claims settlements in an effort to increase profits.
The insurance companies argued that these programs can provide a consistent estimate for bodily-injury claims through data input by the insurance adjusters.
http://www.setexasrecord.com/news/218016-csc-settles-out-of-colossus-class-action
At least 581 insurers are still going to use Colossus to evaluate your claims. You need to make sure that all of your client's value drivers (any information that is used by insurers' software to put a dollar figure on your claim e.g. injuries and their codes, treatments, comlaints, impairments, loss of enjoyment, etc.) are in "the system".
DO YOU REALLY WANT THE ADJUSTER (THE PERSON WHO GETS PAID TO UNDERVALUE YOUR CLIENT'S CLAIM) TO BE THE PERSON TO DETERMINE WHAT YOUR CLIENT'S VALUE DRIVERS ARE?
Adjusters aren't reading traditional demand letters. They don't have time. Nor do they care. They are only taking out value drivers from the records. They are overworked and have very little time per claim. It is in your and your client's best interest to make sure that the adjuster has ALL value drivers ready and easy to input to maximize settlement dollar amount.
GREAT DEMANDS prepares demand letters for personal injury lawyers and their clients. Our demand letters are written to address the requirements of Colossus and other claims evaluation software. They are in a format that makes it easy for the adjuster to input the necessary information, therefore ensuring that ALL critical value drivers are entered to increase your client's claim.
www.GreatDemands.com
7/16/2009
Welcome to my Blog!
Great Demands prepares demand letters for personal injury lawyers and their clients. Our demand letters are written to address the requirements of Colossus and other claims evaluation software. They are in a format that makes it easy for the adjuster to input the necessary information, therefore ensuring that all critical value drivers are entered to increase your client's claim. The demand letter is written and all supporting documents, such as police report, property damage report, medical bills, and medical records, are organized into an attractive demand package. The original demand package is then sent to the attorney for submission to the adjuster.
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