Dominique L. Fite ,left, and Ryan Schley ,right, of CPT Group. Courtesy photos When Seeking a Settlement Administrator, Price Is Only Part of the Equation
"The inquiry about the lowest bid often echoes loudly, yet this should not overshadow the multitude of other pivotal factors that govern the effectiveness and integrity of the settlement administration process," according to CPT Group's Dominique Fite and Ryan Schley.
February 15, 2024 at 08:19 PM
10 minute read
In the mass and class action space, legal professionals widely recognize the significance of selecting the right third-party administrator (TPA). Amid our role as a TPA, a reoccurring question arises, "What's the lowest estimate you can provide?" While the financial aspect is undeniably crucial, it should not be the sole determinant when vetting a TPA. Gaining a comprehensive knowledge of the numerous benefits a TPA offers to the administration process is crucial, especially when judges' involvement in the selection process becomes more apparent. Before allowing pricing to guide the decision on which TPA to retain, it is essential to consider the following factors, which hold equal or greater significance than cost alone.
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