WC Program – Top Five Ways To Gauge Success
Below are the top five ways to assess the success of your Workers Comp program. In my last two posts, I covered how to tell if your Workers Comp program is in trouble. There are many successful programs in place among private and public employers. I thought that I would cover the top five ways today.
- Your E-Mod is below 1.0 or is decreasing each year. Many people including myself have a few problems with the E-Mod systems as being too general, does not take into account enough years of data, and other concerns. However, your E-Mod is the best way to tell if your safety and claims programs are functioning well. If someone asks me about their company the first question I ask is “What is Your E-mod?” The most disturbing thing I hear when talking to employers is the executive or owner does not their E-Mod.
- You have a successful light duty program in place. This is one of the variables that have changed over time. When I first started in Workers Comp, there were scant numbers of employers that had a light duty program. Starting a light duty program from scratch is a very arduous task. If one is in place, and just not on paper, a company’s E-Mod will decrease over time.
- You question everything such as your policies, premium audits, any changes made to your policy during the year, etc. This is the quickest way to reduce your Workers Comp expenditures is to have a full justification of all premiums spent on your current and last three year’s policies. Why is a very powerful word.
- An injured employee and their supervisor know exactly the location of the doctor or clinic is that treats Workers Comp injuries for your company. The first doctor visit is so important as it sets the tone for the claim. This will lower your E-Mod more quickly than any other recommendation. I have seen it happen again and again.
- You know the name of your Workers Comp adjuster, agent, underwriter, premium auditor, and loss prevention rep. There is a team of professionals out there that can assist you with your Workers Comp program. The main thing to do is ASK for help. Most companies that have followed this recommendation were shocked at the level of the help that was available.
This was a rather quick list. There are other ways to tell – the bottom line being that your company is paying less Workers Comp premiums.
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