Financial strength of Third Party Administrator
Only the large and financially strong Third Party Administrators survive when it comes to claim administration.
Opportunities abound in providing employee benefit and medical claims for employers who self insure and insurers if the third party administrators are financially strong and large enough to enjoy critical mass.
James Kinder, the [...]
A third (3rd) party administrator (TPA) is a business unit, company or organization that processes medical, dental and or insurance claims for a client or insurance company. Third Party Administration is in fact a form of ‘outsourcing’ for companies who farm out tasks and administrations which are not part of their core area of competency. Third party administration is a form of outsourcing services provided by external parties to [...]