Companies that outsource subrogation efforts (partial or complete) inevitably see solutions to immediate problems (e.g., too much fixed overhead) as well as set forth a plan to reap long-term financial benefits (e.g., unearthing hidden revenue streams).

Outsourcing subrogation with Praxis Consulting has reliable, replicable and tangible benefits, such as...

Companies looking to increase net income turn to Praxis to uncover overlooked or hidden subrogation potential, and retrieve these assets from prematurely-closed files. Through Subrogation or “Subro Closed File Review,” Praxis has built a reputation based on the ability to find these assets and return them to insurance companies, therefore increasing the insurance company’s bottom line.

Identifying missed Workers’ Compensation recovery is a challenge for both logistical and economic reasons. Despite significant recovery potential, these opportunities are frequently not pursued due to these challenges. Partnering with Praxis using our Litigation Matching and Recovery Services, companies can overcome these challenges and benefit from otherwise missed recovery opportunities.

Praxis is able to generate millions of dollars each year through arbitration management. We have the experience — over 6,000 arbitration claims initiated and millions of dollars collected — and we know when to file and what the process requires to be successful.

Companies have internal subrogation departments which specifically identify and recover subrogation dollars. Praxis focuses on purchasing blocks of these “closed files” which have revenue potential, but were never identified or recovered through internal recovery efforts.

Many companies fall behind on achieving internal claims recovery goals. By selling closed subrogation claims to an outside recovery firm, companies can benefit from the opportunity to accelerate claims recovery with maximum efficiency. Purchase prices are negotiated against the immediate cash which can be generated and the ability to increase net income. After factoring the costs and the related risks associated with collection, a cash payment presents an increased value to companies. More importantly, Praxis can provide companies in financial difficulty with liquid funds for an otherwise unrealizable asset.

There is potential for subrogation in any accident that involves a third party: whether it be a car accident, product failure, improper workmanship,employee or some other negligent act.

Identifying and successfully recovering all subrogation opportunities is complex, time consuming and often intimidating. Each state has its own set of laws and guidelines, each treating subrogation differently. Each claim type has its own nuances that need to be understood. Liability is often contested, while claimed damages are scrutinized and reduced. Focus and expertise are of paramount importance. As a result superior investigation and negotiation skills are required, with a strong dose of determination. Even then, sometimes subrogation claims require the filing of arbitration or lawsuits to bring about a successful result.