GBS initially achieved its goal of processing all complaints within an average of less than a day in October 2010. Since then, GBS has maintained an average turnaround time below this threshold.
James Deren, President and CEO of GBS, reports that the company’s actual turnaround time from October 2010 to September this year was 0.67 days.
GBS ‘goal of fast turnaround times has not come at the cost of precision or quality. Mr. Deren reports that the treatment accuracy rate during this same period was 99.98 percent.
Asked about the next major goal on the horizon for GBS, Mr Deren said; âWe are looking at various ways to get closer to the supplier. We cannot process claims any faster, so moving closer to the supplier level will reduce lag factors and thus reduce the liability of the plan for our clients. He further states, “Due to our claims handling results, stop-loss carriers designate GBS as a preferential TPA which offers our customers special reduced reinsurance rates.”
Group Benefit Services (GBS) is an employee administration and benefits technology company located in Springfield, MO. GBS provides employer-based services, which include benefits advice and claims administration, project-based services that include the creation and management of Association Group and Trust programs, and also provides employment services. outsourcing for the insurance sector.
Web address: www.gbs-tpa.com