With all the advancements in technology and artificial intelligence, what is the one clearly defined, measurable event that indicates the claim a workers’ compensation claim is high risk and may need some additional resources on that claim?
AI & Technology Tools
Hello, my name is Michael Stack and I’m the CEO of Amaxx, and today I want to talk about, one of the concepts I heard a lot about at the national conference that we had recently is the advancements in ai, the advancements in ai, and how awesome it’s and how these claims systems and RMIS systems are all coming out with this super cool predictive analytics type tools, leveraging AI and reading natural language in order to indicate and give us a predictor of whether or not a claim, a single claim is at a higher risk to become what we call a creeping catastrophic claim or a claim that starts off as a simple shoulder injury and keeps that person out of work for the rest of their life significantly driving up costs and significantly decreasing the quality of life for that individual.
Now, do not hear me wrong. AI is awesome. Huge, huge cool tool. Super awesome, super awesome, and what it does for us in the advancements in how quickly it’s advancing in our world and the tools and technology that we can leverage in order to do some of this stuff. Super cool. Here’s the concept I want you to take away here.
Tactics & Principles
The tactics, the tactics, the tactics, leveraging artificial intelligence, leveraging technology, that is a tactic. That tactic is going to continue to change. It’s going to continue to evolve. It’s going to continue to improve as time goes on. What the AI of today is going to look very different than the AI of 10 years from now. This tactic is going to change very rapidly. The principle is not going to change. The principle is not going to change at all. It never does. It hasn’t changed in hundreds and thousands of years, and it’s not going to change in hundreds of thousands of years from now. So what does the principle, the principle that we need to pull out, and then the measurable tactic, the measurable tactic, that isn’t going to change? It’s not going to change over time. Here’s the principle. We need an indicator. We need an indicator. We need an indicator. We need a trigger. We need an indicator. We need a trigger. We need something to let us know, Hey, this claim is at high risk. We need to be clearly defined. We need it to be predictable. Here’s what I want you to do. Here’s the principle.
Participation is Early Predictable Indicator
Participation, participation, participation, participation. How willing and engaged is that injured worker in the claims process? How willing and engaged are they? It doesn’t matter how much change we have. It doesn’t matter how much the development of technology changes. Human behavior is still going to remain the same and the corner is shown of what we’re doing in workers’ compensation. Human behavior. No matter how much technology changes that injured worker’s still going to have to participate. They’re going to have to participate in talking to an AI bot. They’re going to have to participate in talking to a case manager. They’re going to have to participate in talking to their manager. They’re going to have to participate in talking to a doctor, whether it’s through telemedicine or onsite or whatever principle or tactic changes.
Participation is Not Going to Change
This idea of participation is not going to change. You need to understand the principle and leverage it for your benefit. Leverage it for your benefit. The first and clearly defined measurable event in being able to predict whether a claim is going to be a creeping catastrophic claim or not is participation. It’s participation always has been, always will be no matter what the tactic is. Remember your work today, Workers’ compensation can have a dramatic impact on your company’s bottom line, particularly if you understand these ideas of principles and tactics. But it will have a dramatic impact on someone’s life as we’ve talked about here. This would be great.
Michael Stack, CEO of Amaxx LLC, is an expert in workers’ compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers’ compensation costs by 20% to 50%. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center. WC Mastery Training teaching injury management best practices such as return to work, communication, claims best practices, medical management, and working with vendors. IMR software simplifies the implementation of these best practices for employers and ties results to a Critical Metrics Dashboard.
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