As a funeral home owner, serving families will always be your priority.
But you also have other responsibilities, like managing your funeral home’s finances.
Protecting your business’s cash flow and bottom line is key to ensuring your funeral home is successful. However, there are many common mistakes that could put your finances in danger, like processing insurance assignments yourself.
By processing assignments yourself, you could end up with negative accounts receivable, increased workloads for your staff, and financial uncertainty (especially for the families you serve!).
The good news? There’s a better way.
Using an insurance assignment partner can benefit your business, staff, and families.
Here are 3 questions to ask yourself if you’re processing assignments yourself.
1. Can an insurance assignment company benefit my funeral home?
If your funeral home processes insurance assignments in-house, you’re likely experiencing unnecessary challenges getting funeral funding, such as lengthy delays in receiving payment.
And waiting 30, 60, 90 days, or more for payouts can hurt your funeral home’s bottom line.
An insurance assignment partner can help.
For Tim Brown at Ric Brown Family Funeral Home, partnering with an insurance assignment company made all the difference. Here’s what he had to say about his experience working with Claimcheck:
“We used to wait weeks, if not months, to get paid. We were having serious trouble paying our employees and other aspects of the service. Our business completely changed after signing up with Claimcheck. We could finally increase the number of services we could conduct because we were getting funded right away.”
The right funeral funding partner understands the ins and outs of insurance policies and works directly with insurance companies to ensure your bottom line never takes a hit.
2. Will a funeral funding company benefit my staff?
Handling insurance assignments in-house can put significant stress on you and your staff.
Long hold times, tedious paperwork, and the risk of accepting a bad policy can drain your team’s time and energy.
Chelsey Ayers and other office administrators at Broussard’s Mortuary used to spend hours every week calling insurance companies, filling out paperwork, and trying to get updates on policies. All of which took them away from families.
Then, they decided to partner with an insurance assignment company. Here’s what Chelsey had to say about the switch:
“We integrated Claimcheck into our processes with our administration staff, and it has been a very positive experience. We have a lot of insurance assignments that we work with, so the ease of use and outstanding customer service Claimcheck offers are very helpful.”
Check out the full article here!
An insurance assignment company can alleviate challenges by handling policy verification, paperwork, and funding from start to finish.
The result?
Reduced stress and workload, allowing you and your staff to focus on what truly matters: providing exceptional care to the families you serve.
3. How does an insurance assignment company benefit my families?
When families are navigating grief, the last thing they need is financial uncertainty. But that may be the case if you’re processing insurance assignments in-house.
To give your families peace of mind, you need an insurance assignment partner who can provide funding quickly.
For Ivy Hurley at Primrose Funeral Services, one of the biggest benefits of working with an insurance assignment company like Claimcheck is its service to families. Here’s what she had to say:
“Families have been pleased that we are now able to provide funding quickly. They don’t have to worry about a bill or us calling them for payment. Whenever a family member is going to get a payout, they’re grateful to receive the money quickly.”
Click here to read Ivy’s story!
When you partner with an insurance assignment company, your families no longer have to worry about funding. They can focus entirely on honoring their loved one.
Better care. Happier staff. Stronger business.
Ensure your legacy of care continues for generations to come with an insurance assignment partner who makes all this possible.
Request a demo today to see how Claimcheck can protect your finances, reduce stress for your staff, and help you provide the best possible service to families.