Price is not the only thing to consider when purchasing claims management software. Expensive doesn’t mean good! Do not be tempted to pay a high price for a product that doesn’t do the job.
When considering purchasing a system, it is important to understand exactly your needs, the way it will be used, and what major accomplishments you want.
A RMIS system costs thousands or hundreds of millions of dollars depending on how large the organization is. The determining factor is the organization’s size. This could be the most costly budget item for an entire department. To offset the costs, the benefits must outweigh the risks. This is the moment to make a decision about replacing an old system that may be working well. It should have value! It takes a minimum of 1 to 2 years for a company to decide to replace, deploy, and fine tune a system. This is despite all the factors involved.
How many times have we heard a passionate claims manager ponder over the decision to replace an existing system, only for the new one to be worse? Nobody wants to take responsibility for a bad decision. This can lead to procrastination, or even no decision. Stay with what you’ve ……. or? ?
What’s the solution? Let’s not forget about price, which is always the final decision. Instead, we should be focusing on analysis and system selection. You need to first determine what you want and what you need. Otherwise, you will get exactly what your goals are.
There are many things to consider when planning a new system. Systems were created using the same business processes as manual systems in the past. The same principles are still used in new systems. While I don’t wish to drift too far from the mainstream, I do want to keep up with the current technology. The key parameter is to be able to create new capabilities. You must ensure that growth is not restricted.
You might be best to take a look at the various systems available and create your requirements document. Instead of trying to determine what you want, look at the available systems and then try to create a system that makes sense. Knowledge is the best tool to make informed decisions.
People often become too busy with daily tasks to be able to analyze the data. So the easiest route becomes the simplest. Follow the vendor’s advice. The result may not be what the client expected. The vendor can give the client a lot of freedom if they don’t have a clear idea of the outcome they want.
After you have compared all available systems and determined your exact needs, now it is time to look at the price. What price provides the best value for what you require in software, customization and support services? You might get the same quality as you expected if you go too cheap. You will end up with a quality product and a long-lasting system if you do your research.
