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Reduce Wasteful Workers Comp Practices
With skyrocketing medical costs, employers must practice medical cost
containment consistently.
However, the best way to reduce medical costs is to do the most you can
to return employees to their pre-injury health, and that 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:
- Medical bill review
- Hospital bill review
- Utilization review
- Nurse case management (both telephonic and field-based)
- Negotiated preferred provider networks
- Vocational rehabilitation
We'll quickly implement changes which give you, the employer, control of the injury situation:
- When costs are high, it's because the worker -- not the employer - controls the situation
- We'll help you put systems and procedures in place to immediately gain control over the workers compensation situation
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.
