Air Date: 6-24-2011| Episode: 212
Gil L’Hommedieu is the Founder and CEO of Net Claims Now. Net Claims Now is the first company to provide insurance billing services for the water damage restoration industry. ..
Gil L’Hommedieu is the Founder and CEO of Net Claims Now. Net Claims Now is the first company to provide insurance billing services for the water damage restoration industry. Although Net Claims Now is the first to bring insurance billing services to the restoration industry, insurance billing services have become standard practice in the medical industry and many others. Like the medical industry, the water damage industry generates billions of dollars a year. Mr. L’Hommedieu has thirty years experience operating his own water damage restoration business. Gil has personally handled, negotiated, and settled thousands of water loss claims throughout his career in the restoration industry. Now he has founded a unique company that provides those same services for disaster restoration companies across the country.
The Price is Right
Gilbert L’Hommaedieu’s business Net Claims Now (“NCN”) provides 3rd party billing service for firms providing water damage restoration services for insurance companies.
Nuggets mined from today’s episode:
· Xactimate is the accepted pricing data base for insurance repairs. Insurance repair contractors to their detriment are either unaware or overlook billing items within Xactimate to which they are entitled.
· Poor project documentation leaves restoration contractor vulnerable to pricing challenges by insurance adjusters.
· “NCN” is a culture in which supporting documentation for projects is everything.
· Contractors are often unaware of techniques for getting paid fairly and promptly. One such technique is having the policyholder sign contract documents which contain an “assignment of benefits clause”; which gives the contractor clout in negotiations with the adjuster.
· “NCN” advises their clients of the financial risks of working on distressed properties and foreclosures.
· “NCN” takes over the majority of the responsibility for billing and allows contractors to concentrate on the technical requirements of the project.
· “NCN” advises contractors to first agree with the insurance company on the scope of damages and then negotiate the price.
· Contractors spend money to get more business. “NCN” offers the option for contractors to get more money for the work they already have.
· Provides freedom to wives of contractors who are often saddled with the responsibility of doing the billing.
· In a 2 hour Go to Meeting Presentation, “NCN” teaches insurance repair contractors the rules of engagement, provides business tools and prepares contractor for negotiating with insurance adjusters. Contractors learn how to create and submit a professional packet of documentation that substantiates their invoice. The packet contains “state of the art” information recommended by the industry standards.
“NCW” is a great business concept, there is a need for his service, we wish them good luck and prosperity.
Today’s Music: “The Price is Right” theme song
Z-Man Signing Off