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Self Insurance – Forgotten Area For Medical Networks

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Self Insurance And Medical Networks

Last week, I covered the advantages of Workers Comp self insurance over regular insurance. Today, I wanted to cover an area that is often ignored when setting up a self insurance program. That is the area of medical networks.

Picture Of Hands Presenting Self Insurance With Medical Icon
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 Are you going to turn over your medical networks to the Third Party Administrator (TPA)? Are you allowed to choose your own physicians or will the TPA require you to use theirs? Will switching your TPA cause you to lose your physicians in place? If you are just beginning your self insurance program, how will your company build its medical network? These are but a few of the questions you must cover when choosing a TPA.

 Most of the time, the TPA’s medical network will cover most of the physicians your company has dealt with in the past. TPA’s usually do not require that an employers injured workers treat with a certain physician. The big savings here is the usual 15% discount not counting the fee schedule.

 It may be prudent to ask for a copy of the medical network in place in your area before signing on with a TPA. Most employers do not ask for the medical network information. It is a very important part of which TPA to use for your Workers Comp claims.

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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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