All personal-injury based businesses, whether medical funding or plaintiff funding, revolve around generating a steady supply of viable cases in which to invest. This means performing intentional and efficient intake of plaintiffs’ applications and their respective claims is crucial.
And, as we always try to emphasize, having powerful systems in place at the frontend of the funding process makes your entire business run more smoothly and, in turn, helps increase your returns.
This post contains two free resources to help you build, or rebuild, a process-oriented intake process.
Intake Call Outline - The first is a cheat sheet outlining a typical intake phone call with a plaintiff, which lists some of the most important steps to take and questions to ask while on the phone.
It will help you organize your approach to all intake calls. And although some of the conversations will overlap, you may need to have a similar conversation with the plaintiff’s attorney (where you should be more focused on gathering information).
Intake Checklist - The second document is an accompanying intake checklist for your employees to use during every intake call he or she makes.
The basic purpose of this checklist is to qualify the lead, organize information, and learn about the plaintiff and his or her case, and set expectations for the potential funding. This document will be extremely helpful come time to submit a case to your underwriters.
It’s important to think about how your business might personalize these resources to suit its specific needs. With this in mind, we’ve provided a link below where you can download each and modify them to your business.
Beginning - Introduction & Gather Plaintiff Contact Information
Introduce yourself to the plaintiff and briefly describe what your company does in plain English.
Next, get right into the information gathering on the plaintiff themself; knowledge gained at this point will help confirm whether or not the plaintiff has an existing application in your system. At this juncture, you can also attempt to verify whether or not the case in question is within your funding parameters (and/or qualify for another round of funding if previously funded).
Be sure to gather the following info during the first minute or two of your call:
Middle - Gather case and attorney details & Set Expectations
Now is the time to inquire about the case—to get a general sense of the claim, the injury, timing, and whether or not the plaintiff is represented.
This is crucial information that you will eventually package for your underwriting team.
Spend 5-10 minute gathering case information:
End - Next steps
This is the time to inform the plaintiff about the next steps in the process.
Give him/her a realistic time frame for decision-making and ensure you have the appropriate (and preferred) means to stay in touch throughout the process.
You’ll want to discuss the following:
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