When companies are looking for ways to cut workers’ compensation costs, an objective review of the workplace injury process, known as injury triage, may reveal critical areas in current procedures needing significant improvement. Injury triage is based on the concept of the timely reporting of all workplace injuries within 24 hours of occurrence.
Ask these questions:
1. How and when is an injury reported at your company?
2. Who manages the process?
3. Do you use telephonic nurse case managers?
Best Practices Tips – Basic Information
Companies with good control over medical costs have this information.
1. Number of work related injuries or actual WC claims in the past year.
2. Number of OSHA “recordable.”
3. Experience modification last year; prior year, 2nd prior year.
4. Total number of employees.
5. At how many locations.
6. In how many states.
7. Lag time (average) from injury occurrence to incident reported.
8. Is the timeliness of loss considered a problem?
Best Practices Tips – Analyze ACTUAL Claims Data
Don’t be put off by “unavailability” of this data. Ask for it.
1. Number of incidents reported after 24 hours.
2. Number of incidents reported after 3 days.
3. Number of claims or percent reported in more than a week.
4. Number of problematic cases reported late.
5. Percent of incidents typically referred outside. i.e., such as 80% or 100%.
6. Administrative cost of opening a claim file.
7. Average cost of a medical only claim.
8. Average cost of a lost time claim.
9. Number of percent of claims or actual bills served by non-network providers.
10. Amount of money saved with network provider discounts.
11. Amount of money lost because of non-network providers.
Author: Brian Cullen, ARM, CLIC, Executive Director with Medcor has joined our list of guest bloggers. Thank you Brian. He can be contacted at 630-240-6741 or [email protected]
Click on these links to try it for yourself.
WC Calculator www.ReduceYourWorkersComp.com/calculator.php
TD Calculator www.ReduceYourWorkersComp.com/transitional-duty-cost-calculator.php
WC 101 www.ReduceYourWorkersComp.com/workers_comp.php
Do not use this information without independent verification. All state laws are different. Consult with your corporate legal counsel before implementing any cost containment programs.
©2008 Amaxx Risk Solutions, Inc. All rights reserved under International Copyright Law. If you would like permission to reprint this material, contact I[email protected]
