X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Employers, carriers and third-party administrators can improve workers’ compensation outcomes by ensuring that their claim processes focus on the timely and professional delivery of the following six critical elements. (Credit: Raxpixel.com/Shutterstock) Employers, carriers and third-party administrators can improve workers’ compensation outcomes by ensuring that their claim processes focus on the timely and professional delivery of the following six critical elements. (Credit: Raxpixel.com/Shutterstock)

Improving workers’ compensation claim outcomes in a statutory, no-fault system is challenging but achievable. A successful claims strategy should be informed by the loss data, focused on returning injured employees back to health and targeted to reduce cost drivers. It requires flexibility to accommodate every claim on its own merits, while providing the framework to guide adjusters toward a common goal.

Loss triangles teach us that time is the biggest impediment to improving workers’ compensation outcomes. Statistically, the longer claims are open, the more they cost. Experienced adjusters know that time often gives rise to unfortunate and spurious events (such as narcotic addiction, claimant comorbidities, motivations for secondary gain, lawyer involvement, and unrelated complaints, that can cause claims to worsen and costs to increase. Consequently, a claims strategy that shortens the life of workers’ compensation claims is the most effective way to improve results.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.