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HOW IT WORKS ● WHAT YOU'LL GET ● WHY CHOOSE WORKERS' COMP KIT
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Lower / Reduce Workers Comp Costs
With skyrocketing medical costs, employers must practice medical cost containment consistently to maintain control.
- The best way to reduce medical costs is to return employees to their pre-injury health as quickly as possible
- This may mean spending more upfront to provide the most aggressive treatment possible
Workers' Comp Kit & Medical Cost Containment
The first thing to consider is the addition of a Medical Advisor to your staff. A part-time Medical Advisor provides savings of up to $4.00 for every dollar spent for the service. For more information about adding one to your team, Contact Us.
Fee management is another basic cost containment technique. Here employers can contain treatment costs by reducing the number of treatments or by reducing the cost of the treatments.
Things to keep in mind when looking to contain your workers' comp costs include:
- Contact your Third Party Administrators (TPA) or insurance company claims administration team to obtain a list of the services they provide to reduce medical costs
- There may be additional fee for these services, so you have to balance it out with actual cost savings
- Remember that service providers may or may not be affiliated with your TPA
- Regardless of whether a provider is owned by your TPA or affiliated with your TPA, you should know going in, how much the services cost
Workers' Comp Kit Strives for Overall Cost Reduction
Although you must be familiar with all the services, those that focus on improving treatment efficiency and speeding recovery are most important at the early stages of the claim.
We don't focus on reducing the cost of each medical visit, rather, we strive for overall cost reduction, which sometimes means paying MORE for a doctor who will spend more time with your injured employees
It's very important to know the cost containment services which your TPA(?) and insurance company use so you can control how often they are used and how much you will pay for services, such as:
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Medical bill review
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Hospital bill review
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Utilization review
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Nurse case management (both telephonic and field-based)
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Negotiated preferred provider networks
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Vocational rehabilitation
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How much will this program really reduce our workers' compensation costs?
This is just three examples of the many types of companies we've worked with.
- The average results are 20-50% reduction in loss costs if you follow all steps of the process
- However, we have seen several situations where the loss costs have been reduced by as much as 60%
- These results have remained consistent for over 15 years with every company I have worked with
The reason for the staggering reduction in your loss costs is that you, the employer, will take back control of the situation from the employees
When workers' compensation costs are too high, it is because there are "too many claims which last too long."
Thus, the program focuses on how to reduce the number of days an injured employee is out of work
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We'll quickly implement changes which give you, the employer, control of the injury situation:
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When costs are high, it's because the worker -- not the employer - controls the situation
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We'll help you put systems and procedures in place to immediately gain control over the workers compensation situation
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For more information about how you can greatly reduce your Workers' Compensation costs, call us at 860-553-6604, or send us an e-mail, or simply submit this short form.
