Evaluating, selecting and managing a third-party claims administrator (TPA) is a critical challenge facing every company that separates insurance coverage from claims-handling services.

Companies that make the strategic decision to outsource claims management must carefully and constantly review potential TPAs, monitor the current provider's performance and, if necessary, be ready to make the hard decision to change partners.

Here are some of the best practices that help companies successfully navigate the challenging process of evaluating, selecting and managing a TPA, and ultimately achieve the strategic goals of outsourcing claims administration.

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