What are some of the positive things about our new reality?
You see a lot of organizations supporting each other across social channels and through phone and email communications. And associations are doing what they can to inform their member organizations about federal updates. For instance, HCAA recently shared details about the availability of the CARES Act small business loans .
But there aren’t a lot of positives aside from my commute being 10 minutes faster – I suppose that’s a plus.
How are you keeping yourself busy in your time away from work?
Outside of work I’m part of Rotary International where I can network about business and community issues. We just had a virtual happy hour in which everyone poured a beverage of their choice and joined into a video conference call. That was fun.
What advice would you give other HCAA members when working with their clients during this time?
As TPAs, it’s important that we provide the best service we possibly can in this volatile market. You need to monitor the size of your employer groups and make constant projections about claim volume. Are your clients going through layoffs? Are they going out of business? As claims levels go down, so do TPA revenue streams. But obviously there’s a delay in claims to actuals so it’s important to watch for any movement there.
One of our clients just dropped from 95 to 65 employees. That’s when it’s our job to step up and be a positive resource for them because you never know what the person on the other end of the phone is going through. We try to put ourselves in their shoes, and to be gracious and patient to their needs.