One of the most commonly used tactics to control workers’ compensation costs is also one of the biggest wastes of time in our industry. Today I want to give you one tip, just one, that will change the effectiveness of that strategy. Hello, my name is Michael stack. I’m the CEO of Amaxx, and today I’m going to talk with you about claims reviews, claims reviews. The RIMS Benchmark survey reported that over 90% of companies, a huge percentage of companies, have done a claims review of some or all of their claims within the last six months. You likely have a claims review coming up in the not too distant future. So how do you make that time effective?
Why Claims Reviews Are Big Time Wasters
Why do I say it’s one of the biggest wasters of time in our industry? And if you’ve ever gone through one, you’ll likely agree with me because if you go through this tactic without this one tip that I’m going to give you right now, it’s a huge, huge waste of time.
Checking boxes, filling out forms, talking a whole bunch, going back to your desks and absolutely nothing changes. Here’s the one tip you need, the decision-makers need to be there. The decision-makers need to be there. The decision-makers need to be there. The decision-makers need to be there. The decision-makers need to be there.
Decision-Makers Need to Be At Meeting
That’s the one tip that’s if it’s missed, if there’s no decision-maker at this claims review meeting, which is just an incredible opportunity to bring stakeholders together, talk about what’s going on in your program. Talk about what’s going on in specific claims. Talk about what could be improved. Prioritizing those items, creating an action plan to move forward and prevent some of those challenges from happening in the future. But if the decision makers are not at this meeting, whether it’s done virtually or in person, nothing’s going to happen, nothing is going to happen.
Nothing will happen unless the decision-makers are at this meeting. It’s an incredible opportunity to come together. It’s an incredible opportunity to analyze what’s going on incredible opportunity to create an action plan. But if there’s no decision-makers, there’s going to be no changes.
No Changes Occur Without a Decision-Maker
There’s going to be no improvements because of the people are going to go back to the decision-maker and they’ll talk to them like, Oh, I’ve got a million other things going on. Let’s talk about that later. Or that’s not going to be explained in the same way, or they’re not going to be participating or they just never hear about it at all.
They just maybe get a one sheet of what happened, and nothing actually changes. Have the decision-makers present at that meeting. And you will make one of the biggest waste of time in our industry. One of the most effective uses of time. Again my name is Michael stack. I’m the CEO of Amaxx and remember, your work today in workers’ compensation can have a dramatic impact on your company’s bottom line, but it will have a dramatic impact on someone’s life. So be great.
Author Michael Stack, CEO Amaxx LLC. He is an expert in workers’ compensation cost containment systems and helps employers reduce their workers’ comp costs by 20% to 50%. He works as a consultant to large and mid-market clients, is a co-author of Your Ultimate Guide To Mastering Workers Comp Costs, a comprehensive step-by-step manual of cost containment strategies based on hands-on field experience, and is the founder & lead trainer of Amaxx Workers’ Comp Training Center, which offers the Certified Master of Workers’ Compensation national designation.
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