Tuesday, October 30, 2012

Workers’ Compensation Five Simple but Critical Tips

Some agents may find Work Comp a difficult line of business to write, but this article written by Diana B Henderson gives you some helpful tips to make writing this line of business easier.

Laurie InfantinoCreated by:
Diana B. Henderson The founder and president of The Henderson Group, a workers’ compensation and disability management consulting and training firm in Newport Beach, California.  With more than twenty-five years of hands-on experience, she has worked in both the corporate and service provider communities.  She has worked at Aon Risk Services in a consulting role and Hunt-Wesson Foods as their National Workers’ Compensation Manager responsible for their in-house California workers’ compensation claims handling operation. 
Diana consults to both public and private sector employers on a wide range of issues.  She assists in developing cost-effective approaches consistent with the client’s overall operating philosophy and employee relations objectives.  Diana is often utilized as a litigation consultant and expert.  She also develops and conducts highly interactive and comprehensive workshops.

As a business owner and employer, do you want to know how five simple but critical tips can help you impact your workers’ compensation costs?  

Impacting your workers’ compensation bottom line.

1. Timely reporting.  Whether compensable or questionable, timely reporting mitigates total claim cost.  Providing adequate and accurate information assists the claims handler in adjusting the claim and providing appropriate benefits.  Questionable claims need immediate attention so that the investigation activities are completed within the 90-day window for making a compensability decision.  The trigger for the 90-day clock to begin is the date you knew about the claim, not the day you report it to your insurance carrier. 

2. Take control.  Reforms included in SB899 provided an alternative mechanism for managing medical utilization and costs through the use of Medical Provider Networks (MPNs).  Consult with your carrier regarding the MPN implementation process.  Ensure that you display the requisite informational posters and distribute required notices and pamphlets.  Your insurance carrier or claims administrator should be able to provide these documents to you.  Just remember, absent the requisite poster and pamphlet, even the most basic form of medical control is lost. 

3. Return to work.  Incentives are available for providing permanent return to work opportunities.  Additionally, productivity, morale and the overall cost can be positively impacted.  Effective with injuries on or after January 1, 2005, if you employ more than 50 full time employees, the cost of a claim can be impacted either negatively or positively depending upon the ability to offer a return-to-work opportunity for an injured worker.  This is done via a 15% reduction or a 15% increase for each payment of permanent disability indemnity.  The reduction is applied if return to work is offered even if the injured employee does not accept the offer.  Conversely, the increase is applied if return to work is unavailable and/or NOT offered.

4. Stay engaged and connected.  Maintain and insist on high levels of communication with your injured worker and claims handler.  Continually monitor and review the status of every open claim.  Provide requested information expeditiously.

5. Use experts.  If you lack the expertise, do not hesitate to consult with experts to assist in managing this bottom line expense.  It is well worth the investment.

Diana B. Henderson The founder and president of The Henderson Group, a workers’ compensation and disability management consulting and training firm in Newport Beach, California.  With more than twenty-five years of hands-on experience, she has worked in both the corporate and service provider communities.  She has worked at Aon Risk Services in a consulting role and Hunt-Wesson Foods as their National Workers’ Compensation Manager responsible for their in-house California workers’ compensation claims handling operation. 
Diana consults to both public and private sector employers on a wide range of issues.  She assists in developing cost-effective approaches consistent with the client’s overall operating philosophy and employee relations objectives.  Diana is often utilized as a litigation consultant and expert.  She also develops and conducts highly interactive and comprehensive workshops.

Created by:
Diana B. Henderson The founder and president of The Henderson Group, a workers’ compensation and disability management consulting and training firm in Newport Beach, California.  With more than twenty-five years of hands-on experience, she has worked in both the corporate and service provider communities.  She has worked at Aon Risk Services in a consulting role and Hunt-Wesson Foods as their National Workers’ Compensation Manager responsible for their in-house California workers’ compensation claims handling operation. 
If you have any questions regarding this article or would like to contact Diana, she can be reached at The Henderson Group, 4590 MacArthur Blvd., Suite 500, Newport Beach, CA 92660.  The phone number is 949-417-5722.  Her e-mail address is Diana@TheHendersonGroup.net

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