The insurance industry has worked hard to bring self-service concepts like 10 and 10 into the mainstream, and for the most part, it has worked. Honest, hard-working general and specialty contractors who know their trade and put in a hard day’s work are tired at the end of their day and don’t want to fight the insurance industry over their wages. The insurance industry is well aware that most contractors do not understand the true costs of the job and that many of these contractors do not have the time, interest, or legal knowledge to fight the insurance industry, so they conform to what the insurance industry offers… 10% overhead and 10% profit; also known as 10 and 10.
Simply put, the 10-and-10 concept is a selfish and fascist creation of the insurance industry that only serves to limit the profits made by manual contractors so that the insurance company can continue to reap record profits…nothing more. , nothing less.
The 10% overhead and 10% profit is NOT US policy NOR US case law. The United States, by its own fundamental and constitutionally protected design, cannot implement laws that limit profits. However, you can implement laws that prevent price gouging, price fixing, predatory pricing, and other unfair business practices, but our free market capitalist society cannot limit profits. Technically, even the obscene and excessive profits that many in the insurance industry agreed to return to their clients were profits they were entitled to under the rules of the US market. The only reason the insurance industry agreed to return their excess profits to their clients was to save face in the eyes of the average American citizen. The average American citizen is currently struggling financially and insurance industry PR firms understand that it is VERY difficult for insurance industry bigwigs to continue to cry poverty and claim they need government assistance, especially during a depression when the American citizen finds out. of your excess earnings; therefore, such excess profits are paid back (albeit slowly and over time) for marketing benefits and NOTHING else.
Some of the tenants of 10 and 10 are absurd. For example, insurance adjusters like to deny 10’s and 10’s on the basis that a specialty contractor only has one trade, while a general contractor typically has at least three. This stupid line of thinking infers that the work of a general contractor is more important or valuable than the work of a specialty contractor. Extrapolating this line of “thinking” to its logical conclusion we can conclude that the insurance industry should value the work of a General Practitioner (“MD”) above the work of a Specialist MD. Obviously, the general practitioner does much more for the patient and is therefore entitled to more overhead and profit on his bill than the humble specialist doctor who only performed a specific and specialized treatment for the patient. Such an assumption reveals the insurance industries’ clear and blatant disregard for the education, equipment, and experience of the specialist that qualifies the specialist as such. ANY rational, unbiased person would certainly agree that this line of “reasoning” is fundamentally flawed, but this is the EXACT “reasoning” the insurance industry inflicts on blue-collar, hard-working specialty contractors.
Both sets of contractors, general and specialty, deserve fair compensation for their honest hard work, but not in the eyes of the greedy and overly lucrative insurance industry. To reap such record and excessive profits, the insurance industry has to confuse the problem with smoke and mirrors, like 10 and 10, and then find enough “going with the flow” contractors to implement this ridiculous concept among their peers. Given enough time and enough industry marketing to show the benefits of 10’s and 10’s, such self-service policies become “common knowledge” and create the illusion, in the eyes of contractors who have embraced the concept and all new contractors , that such nonsense is the law or the way things are done, so such contractors will blindly accept the concept and forego the fair and reasonable profit they deserve and have earned.
Other ways to implement and enforce such anti-American and fascist policies is to create a base of fear from which those who are subject to such a base of fear are totally controlled and never rebel – get on the Preferred Vendor List (“PVL”) . The PVL is an industry controlled carrot that new and hungry contractors are looking to achieve in order to win repeat business with the insurance industry. Achieving such a dubious distinction trains the contractor on how to bill in such a way that the insurance industry will approve the bill without delay and continue to work with this “Preferred Vendor.” Said preferred provider is soon in dire financial straits with enough earnings to eat and support their preferred indentured servitude for as long as they can physically work.
The author of this article likes to write smart, factual articles that have sources cited and available in case someone or some entity asks for evidence. For those wondering the validity of the points made here, consider this… none of the author’s Internet searches for “10 and 10” – and a host of related searches – turned up anything showing ANY relationship of 10 and 10 in US Law: Despite smoke and mirrors marketing and mind control, the insurance industry struggles to embed itself in the conscience of the contractor and enforce it through its bad faith and money-smuggling efforts. excessive profits. Many sites emerged debating the use of and reliance on the mythological politics of 10 and 10, but nothing more. Pro 10’s and 10’s admitted their position in the PVL, with many expressing reasonable concerns about their profitability and their headaches in dealing with the reduced prices and continual hoops imposed on them by the controlling insurance industry, and those who opposed argued the profit system they use. to keep your business interests afloat and profitable.
In the free market capitalist system of the United States, profit is the reason for being in business. Profit is not a dirty word or concept and the insurance industry certainly enjoys its record and excessive profits at the expense of honest and hardworking manual contractors who deserve a fair and reasonable return on their investment. Profit limitations are anti-capitalist. The insurance industry is NOT a government body and cannot legally implement its binding and self-serving law in a free society. The contractor is free to charge such overheads and profits as he deems fair and necessary on his invoice to cover his business model and unique and independent expenses.
Now you know the truth. It’s your money… it’s your choice. Choose wisely.