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Top Five Ways To Tell If Your Workers Comp Program Is Successful

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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.

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  1. 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.
  2. 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.

    Cupped Hand Top Five Ways With Dollar Currency Symbol
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  3. 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.
  4. 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.
  5. 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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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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