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How to Reduce Claims Leakage for Medical Payments

By Michael Chochrek

The cost of medical treatment is on a sharp rise and insurance carriers need to face this challenge head-on to combat insurance cost increases that could negatively impact the customer experience and retention. A recent study by the Insurance Research Counsel (IRC) found that medical costs associated with first-party claims such as PIP (personal injury protection) and Medical Payments coverage have increased by 8%, while costs associated with Bodily Injury liability claims increased by only 4%.

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Source: Trillium Software

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