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Workers Compensation Loss Runs Are Best Online

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Workers Compensation Loss Runs  – Online Access Is Best

Workers Compensation loss runs online claims access insures your company will have the easiest way to retrieve your Workers Compensation claims information.

Apple Computer workers compensation Loss Runs lab
Wikimedia Commons – Overton2012

I have posted very often on Workers Compensation claims loss runs.  Why? Whether your company has a regular Workers Comp policy or a self-insured/large deductible program, your loss runs are a very important financial document and should be treated like a bank statement.

If you do not have full  online access to your Workers Compensation claims, loss runs are the only documents that will inform your company of how your Workers Comp program is performing. In fact, full online access to your claims is worth approximately 20% of your premiums when comparing Workers Compensation carriers.

Having full online access to your claims includes having the change of reserve documentation available.  This is very important as almost all systems that allow access to the reserve changes will show a breakdown of how the reserves were calculated.  Full access is very important if you are going to have a company perform a claims analysis.  Not only will full access save your company billable hours, but it will aid in negotiating down the file reserves.

Female Doctor Loss Runs With Medical Record File
StockUnlimited

If you have a TPA handling your claims, your company owns all of the claims data and should have access to all of it except certain information such as medical records. Your workers comp claims files should be an open book that you can fully view all adjustment actions on the files at all times.  

I always recommend that any company that does not have online claims access or do not know how to access the claims should obtain a username and password from their insurance carrier or TPA. You can usually email the Workers Comp adjuster if you have questions on the file from inside the online file.  I always recommend emailing the adjusters as you will have documentation and the adjuster can look at the file before responding.  Calling an adjuster will only cause them to have to look at the file and call you back.  That is why we do not recommend phone calls.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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