Restoration Contractors – Industry Survey

Get Found First has partnered with One Claim Solutions for this brief survey to benchmark your billing practices and help you stay in the know. The survey only takes a few minutes, and we’ll be sharing the final data with those that participate. All personal information will be withheld and kept private.

We’ll also randomly choose 10 people to receive a $200 Amazon Gift Card! All you have to do is participate.

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* 1. Name

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* 2. Email

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* 3. How much revenue did your restoration business generate in 2023 (or in the last twelve consecutive months)?

<$1m

$1-5m

$5-10m

$10m+

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* 4. How does this revenue breakdown by service line - allocate 100 points across the following service lines.

Emergency Services (water, fire, mold, asbestos)

Contents / Packout

Reconstruction (incl. packback)

Other

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* 5. Allocate 100 points based on the breakdown of the types of jobs you work on:

Residential (incl. multi-family)

Commercial

Other

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* 6. Allocate 100 points based on the breakdown of how you source jobs:

TPA / preferred-vendor programs

Insurance adjuster and/or agent referrals

Plumber referrals

Digital marketing & sales efforts

Other

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* 7. Which best describes the price list used in your invoices?

Xactimate suggested prices

Custom pricing - 0-5% above Xactimate

Custom pricing - 5-10% above Xactimate

Custom pricing - 10-15% above Xactimate

Custom pricing - 15- 20% above Xactimate

Custom pricing - more than 20% above Xactimate

Other (please specify)

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* 8. What is your average invoice amount?

$1-5k

$5-10k

$10-15k

$15-20k

$20k+

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* 9. On average, what portion of this invoice do you collect?

<70%

70-80%

80-90%

90+

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* 10. On average, how long does it take to collect on your claims?

<30 days

31-45 days

46-60 days

61-90 days

90+ days

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* 11. When it comes to claims management (getting paid in full and on time) how do you feel you are doing?

We’re doing better that companies similar to ours

We could do better, but suspect other companies are having the same difficulties

We’re not doing as well as we should, but don’t know what else we can do

We’re not doing as well as we should, and are looking at ways to solve the problem

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* 12. Which best describes the way you currently negotiate invoices with insurance carriers?

Deferential: we rarely negotiate that hard with the carrier. We don’t want to get “black-listed”

Accommodating: we don’t want to rock the boat - we’ll negotiate some, but generally take what they give us most of the time. Concerned about being “black listed”

Trying: we do the best we can, but lack the resources to negotiate effectively and consistently. Not afraid of being “black listed”

Succeeding: we push on carriers at every opportunity and are happy to fight the good fight. Not afraid of the “black listed”

Other (please specify)

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* 13. Do you think AI (artificial intelligence) can have a positive role in improving results in your insurance claim submission processes and results?

Yes

Maybe, need to see how it works to decide

No, claims are too based on personal contact and relationships