On-the-Ball Injury Management Lowers Reserves and Saves $57,000
Discover how a new home contractor saved over $4,000 in premiums through expert claims management. Our proactive approach reduced claim reserves by $57,000 and lowered the experience mod by 19 points. Learn how close monitoring and timely interventions can significantly impact your workers' comp costs.
Business
New home contractor.
Situation
An employee suffered a laceration to his finger while using a saw. The carrier set the highest possible reserves for disfigurement, permanent loss of use, and temporary disability warranted for this type of injury.
Assessment
Knowing that insurance carriers routinely set high reserves on claims and keep those reserves active until the claim is closed, goal was keep close tabs on every aspect of the claim. Along with skilled in-house claims specialists, worked with the employer, medical providers and claims adjusters to continually assess the case and adjust reserves accordingly.
Solution
As soon as the employee was released to full duty, asked the insurance carrier to remove any remaining reserve for disability. A short time later, the carrier made a payment to the employee for scarring, requested they remove any remaining reserves for disfigurement. Later, argued successfully to lower reserves for permanent loss of use.
Result
As soon as the employee was released to full duty, asked the insurance carrier to remove any remaining reserve for disability. A short time later, the carrier made a payment to the employee for scarring, requested they remove any remaining reserves for disfigurement. Later, argued successfully to lower reserves for permanent loss of use.
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