The Six Keys To Saving On Workers Comp – Easiest One To Accomplish Today
The Six Keys To Saving On Workers Comp started as the Four Keys. Still – to this day, almost 30 years after I wrote the First Four – ASAP First Reports is the easiest Key to accomplish. With today’s technology, reporting claims has been sped up greatly. Most carriers and Third Party Administrators (TPA’s) provide online claims reporting.
If your carrier or TPA requires you to file them online, then they are doing your company a great cost saving service. Some TPA’s and a few carriers now charge an extra $25 – $100 per claim to have your claim input from paper or an electronic file.
The one unspoken benefit allows your respective claims adjuster to take some type of investigative action. The First Report of Injury (FROI) legally allows your adjuster to act on your behalf to investigate the claim. When an adjuster receives a Twilight Zone phone call, the results usually point to the negative. You may want to follow the link to see how your claim can end up with larger than normal reserves from the very start. Getting control over the claim involves three areas:
- Medical control – without the medical control in place, your costs are going to spiral
- Return to work – the coordination between adjuster, employer, and treating physician is affected with a delayed first report
- Employee treatment – the more quickly the adjuster contacts the injured employee, the more likely the employee will be satisfied with the handling of the claim. Waiting around days in limbo will never make the injured employee feel at ease with his/her claim.
As we all have become used to “instant information“, the time clock is much shorter than in the past on getting the claim on the books and establishing three point contact. Smart phone apps should help this process along. To date, I have not seen a good app to enhance claims reporting. The adjuster must contact the injured employee, doctor, and employer within 24 hours after receiving the claim. The 24 hour clock starts running even with the additional time the claims supervisor takes to review the claim before adjuster assignment.
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