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Cash flow can be a challenge for many restoration businesses. When restoration contractors work with One Claim Solution, they can increase their collections by over five percent, even after OCS’s fee. What should contractors do with that extra money? Here is some advice from the industry experts at OCS about how you can use that money to reinvest in your restoration business.
Maintaining good profit margins can be challenging for restoration businesses when so many of their invoices go through adjusters who are always looking for ways to pay less. Getting paid what you deserve often requires time-consuming, frustrating calls arguing with adjusters.
When restoration contractors partner with One Claim Solution, these frustrations become a thing of the past. OCS has a whole team dedicated to negotiating on your behalf with carriers so that you can get the payouts you deserve. Our team’s expertise in working with different insurance providers and time devoted to managing your billing leads to an increase in profits for our contractors. Restoration businesses that partner with OCS typically see a 5-10% increase in collections, even after the OCS fee.
With extra cash in your hands after working with OCS, you have the chance to reinvest in your business. The best way to get the most out of the money you put back into your business is to be strategic. Start by taking an honest look at your business’s strengths and weaknesses.
Look inward at your business operations to determine areas you’re doing well and areas you can improve. Dan Doud, CEO of One Claim Solution, recommends that businesses examine their profitability by job type over time and overhead costs. If your profit margins aren’t where you would like them to be, look at ways to adjust your pricing or job delivery.
Also, take a look at other foundational areas of your business, like recruiting, hiring, right, and training. “[You’ve] always got to think about ‘What are my core capabilities? What do I want to be best at?’” Dan says. “Invest around those.”
Analyzing your strengths and weaknesses isn’t just about internal evaluations. Contractors also need to consider the market. Dan explains, “They’ve got to turn outward and say, ‘Well, what’s going on in the market? Is this a slow or hot time in the market? Is there any change to the competitive landscape, like a new restoration business that has come to town? Is there a new plumber that is moving referrals around?’” Making reinvestment decisions about your business without any consideration of the context your business operates in is unwise.
Once you know your business’s strengths and weaknesses, both internally and externally, you can begin to brainstorm reinvestment ideas. The right reinvestment move will look different for every business. Your reinvestment opportunity could be expanding your market share, offering new services, diversifying your lead sources, or something else entirely.
Reinvesting in your business will always involve some degree of risk. “There are smart risks to take and dumb risks to take,” Dan says. “Smart risks are ones where you studied the problem, thought about the outcomes, and said, ‘What are the variables…here that I can control? What’s the magnitude of the negative outcome? What variables can I not control? Of those variables, how confident am I that they’re going to go in a neutral to favorable manner?’” If you have a lot of uncontrollable variables that you don’t have confidence in, it’s probably a dumb reinvestment risk. But if you have a lot of variables you can control with limited ramifications if things go wrong, it’s a smart reinvestment risk.
If you’re eager to improve and grow your restoration business but struggling to bring in enough cash to make those investments, OCS might be the answer. Request a free consultation with us to see if partnering with OCS to manage your insurance billing is right for you.
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Hi there! I’m Connor, the Account Executive for One Claim. My goal is to guide our contractors through the sales process, ensuring you’re equipped with all the information you need to make your decision and hit the ground running once aboard. We view ourselves as an extension of your business and I strive to make the process an enlightening and consultative one.
My career has primarily been focused in software sales over a few different industries but the last few years were spent helping general contractors solve similar problems to what we’re doing here at OCS! Outside of work, I love spending time with my family, cooking and boating during the summer months.
Hello! I’m Nicole, and I’m here to champion for our employees, recruit for new talent, and impact culture at One Claim Solution. I find satisfaction in supporting a memorable employee experience and bring innovation, problem solving, and strategic view to the process. Nothing is more important than our people, and a healthy culture is my top priority! I have had the pleasure of building my career in various sectors, specializing in small to medium size firms focused on high-growth. My experience is centered around driving and implementing change, leading high-performing teams, and driving process improvements. I am excited to make an impact at One Claim. Outside of work, my family and I enjoy getting outdoors as much as possible to explore beautiful Colorado!
Great to meet you! I’m Elizabeth, and I’m the one behind all the emails and advertisements you’ve been seeing. As the Demand Generation Manager at One Claim Solution, my mission is to connect with contractors like you who need our services. I’m passionate about having an impact on others and I bring a wealth of experience in demand generation and marketing strategy to create moments of delight, curiosity, and education for you.
Prior to One Claim Solution, I had the privilege of building marketing departments from the ground up at companies in a variety of industries, including IT consulting, first protection, and healthcare. Personally, I love being outdoors, playing Dungeons and Dragons and board games, singing, and traveling.
Welcome! I’m Alisha, and I’m here to champion your success as the Director of Contractor Success at One Claim. With a passion for helping contractors thrive, I bring a wealth of experience in onboarding, customer service, and account management to ensure your journey with us is nothing short of exceptional.
Prior to joining One Claim, I had the privilege of scaling SMB and Enterprise Customer Success teams at fast-growing SaaS startups. With over six years of experience at companies like Mavenlink, Teamwork, and ServiceTitan, I honed my expertise in building high-performing teams and fostering proactive, consultative relationships. This background has equipped me with a deep understanding of the challenges faced by businesses like yours, and I’m dedicated to helping you overcome them.
Hi there, my name is Eric! I am the Chief Technology Officer here at OCS, spearheading our technical strategy. I have a background in computer science, graduating cum laude from BYU-Idaho with a Bachelor’s degree in Computer Information Technology.
Before coming to One Claim, I served as the Director of Engineering at Slingshot Technology, Inc., a company later acquired by WorkWave in 2021. My professional journey has spanned both emerging startups and established corporations, with a steadfast focus on cultivating high-trust, low bureaucracy teams and innovating technology using agile methodologies.
In my free time, you can find me flying drones, enjoying the outdoors, and spending time with my family.
Hello, my name is Cam, I’m the COO of One Claim Solution! I come from a management consulting background (Bain & Company) and hold an MBA from the University of Michigan. I have worked at a wide variety of organizations, from Fortune 500 to small-cap, in an equally wide variety of industries. I have over 15 years of experience in operations and strategic growth, and I have spent much of my career focused on developing high-performing tech-enabled service organizations through early stage and high growth phases.
Outside of work, my wife Brittny and I have four kids, ages 13 to 6. As residents of Mesa, Arizona, we love to ski and explore the national parks of the southwest!
Hello, my name is Dan, and I am the CEO of One Claim Solution. I am super excited by everything we are doing at OCS to be the market leading insurance billing specialist that advocates on behalf of our restoration contractors.
My professional experiences are predominantly corporate in nature. My career started at General Electric in finance and accounting. Immediately prior to joining OCS, I spent time as an investor at Bondcliff Partners and management consultant with Bain & Company. I also hold an MBA from the Kellogg School of Management at Northwestern University and got my BS in finance and accounting from Northeastern University.
Outside of the office, I enjoy spending time with my wife, two young children, and our family dog, Whiskey. We live in Charleston, SC and take advantage of the beautiful weather by spending as much time as possible outside at the beach or adventuring around town
Hi, I’m Josh! In 2016, I co-founded One Claim Solution with my partner Jeremy Traasdahl, and I serve as General Counsel of One Claim Solution. Working in the restoration industry, Jeremy and I saw contractors struggling to get paid quickly and fairly and we knew there was a need for change. We founded One Claim Solution to be this change and it’s been my privilege to see our company grow and to advocate for our clients as general counsel.
Outside of my passion for helping the restoration industry, I enjoy spending time outdoors, fly-fishing, hunting, skiing, and coaching my kids’ baseball teams. I’ve been married to my amazing wife for 20 years and we have a beautiful family of 5 children.
Hey, I’m Jeremy! In 2016, I co-founded One Claim Solution with my partner Josh Ehmke. Working in the restoration industry, Josh and I saw contractors struggling to get paid quickly and fairly and we knew there was a need for change. We founded One Claim Solution to be this change and it’s been my privilege to lead our amazing team.
Prior to One Claim Solution, I started my career as an inside sales rep for Avnet, then moved to Pepsico as a district sales manager. Outside of work, I love spending time with my wife and four children, two boys and two girls!