Worker’s comp claims, audits and reviews are one of the most commonly used tactics to reduce workers’ compensation costs. Hello, my name is Michael Stack and I’m the CEO of Amaxx. And that fact is true. A lot of companies are doing claims audits. They’re doing claims reviews and they’re doing them regularly. But what the secret is is that they’re not actually done well. Most of the time, they’re not actually done effectively. They’re not going efficiently. They’re not taking a lot of value and they’re just leaving so much on the table for what could come out of this time. That’s already being invested. I want to do a little short three-part series here on how to make the most of these, how to make the most out of these claims audits and reviews. If we’re doing these things anyway, let’s do them, right? Let’s get some value out of them or as much value as we possibly can.
The Right Mindset is Critical
In the first part of this series, I want to talk about the mindset. I want to talk about mindset going in. This is a critical, critical factor in order to get the most out of these, because what happens most of the time. Here’s what happens most of the time. It’s the blame game. It’s the blame game. What happens is you’re sitting around this table, you’re doing it virtually. And you’re saying, well, John didn’t do this. Well, you know, Sally, didn’t do this. Well, Todd, didn’t do this, blah, blah, blah, blah, blah. And if you would have done this and invited Justin, what did you send this? And blah, blah, blah. We wouldn’t have all these high out of control costs. It’s the blame game. It’s the blame game. It happens all the time and it’ll drive your frankly bananas. If you’re in one of these meetings and this is happening, you need to have the right mindset, the right philosophy going into this, that it’s just an incredible opportunity for all the stakeholders to come together as a team, figure out what’s going right, and figure out what’s going wrong.
Avoid the Blame Game
And how do we fix it as a team? How do we fix it as a team? What’s going really well. What’s going really poorly. How do we fix it as a team? This needs to be looked at, not as a blame game. If we’re going into this as the blame game, you will fail at this audit or review. If you’re going into this as an opportunity to come together as a team, analyze how we can work together more efficiently, more effectively as a team. Maybe there’s some things that you’re doing really well and your counterpart is doing poorly. You say, okay, well, how can I help you with that? How can we work better together in order to create this better outcome? And Oh, by the way, what is the outcome that we’re looking for? What is the outcome? What is the destination? What, how are we trying to do this?
What Are You Trying to Accomplish?
Where’s the vision of where we’re trying to actually go this mindset for these audits and reviews. So, so critically important. You need to have that right. Going in the insurance broker can be the leader of this. The employer can be the leader of this. The claims administrator can be the leader of this. Whoever’s can kind of come together and bring everyone together. As a team, avoid this blame game, look at how you can improve together as a team. And you will see dramatic results. It will make that time invested, which has already been invested by the way, most common use tactic by companies. You can make that time valuable. I’m going to follow up the series with two more, a mini, just a little mini lessons like this, as far as which claims we’re going to use to select, how do you go through that process? And then what do you do after, what did you, after you were done with his audits and how do you make that really as effective, but as impactful as possible. And again, my name is Michael Stack. I’m the CEO of Amaxx. And remember your work today and 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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