Settling the Difficult Cases with Structured Settlements
Complex workers’ compensation cases require creative thinking. One tool that can help innovatively resolve these cases is a structured settlement. What is a Structured Settlement?…
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Why Caring For Your Injured Workers Is Just Like Car Tires
Catching an injury when it first happens is like catching some worn tires on your vehicle—it can save you a lot in collateral damage. It…
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Part 2: Discontinuing Workers’ Comp Temporary Total Disability Benefits
Once a claim has been admitted, the claim handler assumes a pivotal role in managing the file and ensuring all necessary workers’ compensation benefits are…
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Part 1: Discontinuing Workers’ Comp Temporary Total Disability Benefits
Part of reducing workers’ compensation program costs is being aware of and developing defenses for Temporary Total Disability (TTD) benefits. There are numerous defenses to…
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Emod Fundamentals – Perception of Risk
What we’re trying to do here, what did not what necessarily we, what the insurance carriers, what the underwriters trying to do is they’re trying to get an accurate perception of risk. Accurate perception of risk so that they can price it appropriately so that they can price your premiums appropriately because the insurance companies, if you weren’t aware of this, are in business to make money. They want to make a profit. So they want to price your workers’ current premium appropriately based on how risky you are based on how risky you are. Compare to Credit Report The best, I think, analogy of this, particularly is something that we’re all familiar with is just, like, a credit report. So a credit report. Let’s say your score is, you know, 515 ▪ versus someone whose score is, you know, 785. This person at 515 is significantly riskier credit risk than someone’s at 785. They’ve shown based on their history that they can pay their bills. They could pay them timely. FREE DOWNLOAD: “How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue…
4 Items Claims Handlers Want From Their Defense Attorney
Workers’ compensation defense attorneys may lay awake at night wondering what their claims handler really wants. Besides getting their files closed in a timely manner,…
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The Workers’ Compensation Human Fund by George Costanza
In the iconic Seinfeld episode titled The Strike (a/k/a the Festivus episode), George Costanza invents a fake charity called “The Human Fund” to get out…
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Recipe for Disaster for Your Workers’ Comp Costs
And if you ask any service provider, they will tell you the same thing. If the employer doesn’t do their part. It’s very difficult for…
Wellness, Safety, and Injury Response Reduce Workers’ Comp Costs
Sometimes, you are required to spend some money before you can make money. This is the same principle required when reducing workers’ compensation program costs. …
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3 Cornerstone Fundamentals of Workers’ Comp Savings
The journey to workers’ comp savings is can seem complicated and sometimes tricky. But, there is a guide that can reduce the frequency and severity…
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Who Is In Charge of Your Workers’ Comp Program?
Who now at your company is the leader of this. Who’s the leader? Who’s the leader of your work comp program? And what is their…
4 Pieces of Sage Advice to Reduce Work Comp Program Costs
Interested stakeholders and members of the claim management team need to be proactive regarding reducing workers’ compensation program costs. Part of this knowledge and wisdom…
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Part 5 of 5: Work Comp and the Grand Bargain: Dealing with the Unexpected
The final step in mastering workers’ compensation and completing the grand bargain is expecting the unexpected. These claims drive workers’ compensation program costs and what…
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Build Trust with a Workers’ Comp Brand and Logo
So the concept of a brand or logo, when you see the FedEx truck logo, that means something. When you sign up for Southwest, that…
The Reality of the Biggest Myth Regarding Your Third Party Administrator
MYTH: The best way to reduce workers’ compensation costs is to change insurance companies or TPAs. REALITY: Wrong! The best way to reduce workers compensation…
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Step 1: Establish the Vision for Your Work Comp Program
This is where we start. We start with a vision. Start With Goal of Where You Want to Go We start with a goal of…
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Maximize Your Third Party Administrator (TPA) Relationship With A Vendor Day
If your company is a large organization with many locations and numerous open claims at each location, you may need to consider having several return-to-work…
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11 Ways to Manage Employer, Provider, and Employee Fraud in Workers’ Compensation
Workers’ compensation fraud by workers gets the most publicity. But additional fraud is committed by staffing companies, professional employer organizations, medical and ancillary service providers,…
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Part 4 of 5: Work Comp and the Grand Bargain – Tips for Stakeholders to Reduce Premiums & Costs
There is an endless list of things interested stakeholders can implement in their workers’ compensation programs to reduce costs and promote employee morale. This creates…
WCRI 2024 Preview: What I’m Looking Forward to Seeing
Socrates said, I’m the wisest man alive for I know one thing, and that is that I know nothing. Hello, my name is Michael Stack.…
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