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The workers compensation system may feel like a complex web of insurance premiums, claims adjusters, and legal disputesbut at its core, its rooted in one simple idea: a compromise. Click Link to Access Free PDF Download “Step-By-Step Process To Master WorkersComp In 90 Days” In short, the system wasnt working for anyone.
This post is one in a 3-part series: Part 1: WorkersComp Independent Premium Audits Explained Part 2: WorkersComp Independent Premium Audits Explained Part 3: WorkersComp Independent Premium Audits Explained 5. You should consult with your insurancebroker, attorney, or qualified professional.
Employers must recognize that effective workerscomp management requires proactive employer involvement and robust internal processes to support external partners, emphasizing teamwork in workers’ compensation programs. FREE DOWNLOAD: “Step-By-Step Process To Master WorkersComp In 90 Days” 5.
Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
By providing clear benchmarks for recovery, Injury Duration Guidelines help prevent unnecessary treatments and reduce claim durations, benefiting both employers and insurers. By promoting consistency, fairness, and efficiency, these guidelines benefit everyone involvedinjured workers, employers, medical providers, and insurers alike.
While using an approved network is necessary for insurance and cost-control reasons, not all doctors within the network are equally effective at managing workplace injuries. He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering WorkersComp Costs: Reduce Costs 20% to 50%.
Workers compensation isnt a solo actits a team sport. This article breaks down the major stakeholders involved in workerscomp and how collaboration across this ecosystem leads to better outcomesfor both the injured worker and the employer footing the bill. They’re also known as the insurer or underwriter.
Click Link to Access Free PDF Download “13 Research Studies to Prove Value of Return-to-Work Program & Gain Stakeholder Buy-In” In this post, we’ll explore what the Return-to-Work Ratio is, why it’s so important, and how you can use it to drive better results across your workers’ comp program.
Workers compensation is often misunderstood as a fixed cost of doing businesssomething employers have to accept, manage passively, and simply write checks for. In reality, workerscomp costs are one of the most controllable expenses in your organization. Avoid It : Treat workerscomp like a strategic initiative.
When a workerscomp program isnt delivering results, many employers instinctively look outward. Our broker is never available. If you want a high-performing workerscomp programone that reduces claims, controls costs, and supports injured employees you need a rockstar internal team. Its the adjusters fault.
Hiring is more than finding the right resume or filling a seatits the first and most important line of defense in preventing workplace injuries and reducing workerscomp costs. Hiring Isnt Just HRIts Risk Management This 6-step hiring system isnt just a recruitment strategyits a workerscomp prevention tool.
The Link Between Trust and Outcomes A study conducted by the WorkersComp Research Institute (WCRI) highlights the crucial role that trust and fear play in an injured workers recovery and financial stability. ” Workers need clear, timely updates about their benefits, particularly wage replacement checks.
Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
Ask the average employee who pays for workers compensation, and you might hear answers like the insurance company, the government, or even nobodyits just a benefit. In reality, the employer foots the bill for every dollar spent in the workers compensation system. These misconceptions are widespreadand costly.
Thats as true for workerscomp as it is for fitness, finance, or sales. With just five core metrics , you can quickly diagnose the health of your workers compensation program , prioritize where to act, and measure your progress over time. And watch your workerscomp program transform from chaotic to controlled.
Be meticulous in updating personnel files, health insurance documentation, and records of sick leave. This post is one in a 2-part series: Part 1: Layoff Planning to Control WorkersComp Claims Part 2: Layoff Planning to Control WorkersComp Claims 3. All state laws vary.
Here are six critical actions your company can take before a planned layoff to effectively manage and potentially reduce workers compensation claims: This post is one in a 2-part series: Part 1: Layoff Planning to Control WorkersComp Claims Part 2: Layoff Planning to Control WorkersComp Claims 1.
Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
Addressing Fear Starts with Empathy Empathy is the foundation of any successful workers’ comp program. It’s the ability to step into the shoes of an injured worker and understand what they’re experiencing. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center.
This post is one in a 3-part series: Part 1: WorkersComp Independent Premium Audits Explained Part 2: WorkersComp Independent Premium Audits Explained Part 3: WorkersComp Independent Premium Audits Explained To qualify for this treatment, construction employers must keep meticulous records specifying exact hours worked per classification code.
Its a funny sceneuntil you realize its exactly how most employers manage their workers compensation programs. The Bugs Bunny Trap is a perfect metaphor for how workerscomp can spiral out of control without a strategic framework. So how do you escape the chaos and build a streamlined, high-performance comp program?
Heres a closer look at best practices every risk manager should be following to create a high-performing, cost-effective workers compensation program. Are you fully insured, self-insured, or working with a third-party administrator (TPA)? You should consult with your insurancebroker, attorney, or qualified professional.
When a workers compensation claim spirals into a costly, prolonged, or litigated nightmare, most people instinctively look for a technical failure: late paperwork, a coverage issue, or a misstep by the claims adjuster. The real reason many workerscomp claims go off the rails? Here are four high-impact ways to start: 1.
Thats not a dream its a reality for organizations that implement clear, consistent communication systems within their workerscomp process. The 9-Point System That Drives WorkersComp Success The best programs dont rely on memory or the right person doing the right thing at the right time. They build repeatable systems.
Create a Branded Workers’ Comp Program One of the most powerful ways to set expectations is to give your workerscomp process a name and visual identity. Integrate WorkersComp into Your Onboarding Process The best time to shape expectations is when the employee joins your team. Here’s how.
Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
A follow-up date to verify all state-required forms have been filed with the state work comp board. If the file is reportable to an insurer, excess carrier, or any other party, the date the reporting will be completed. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center.
When embarking on the journey to master workers compensation, the road is well-traveled and marked by proven strategies. Our three components to achieve workerscomp mastery are: Framework , Employer Controls , and External Controls. Workers compensation programs are multifaceted, and leaders often struggle to prioritize.
Click Link to Access Free PDF Download “Step-By-Step Process To Master WorkersComp In 90 Days” Start With Goal of Where You Want to Go We start with a goal of where we want to go. If you’re a service provider, broker care, captive manager, et cetera. This is where we start. We start with a vision.
Because in workerscomp, communication isnt a soft skillits a game changer. Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. So train your team.
Classification rules are guidelines used by rating bureaus and insurance companies to categorize businesses based on the type of work they perform. The higher the risk, the higher the workers compensation premium for that classification. You should consult with your insurancebroker, attorney, or qualified professional.
According to a CareerBuilder study cited in WorkersComp Mastery Training , 75% of companies say theyve been impacted by a bad hire , with 41% reporting losses of $25,000 or more , and 24% saying the cost exceeded $50,000. You should consult with your insurancebroker, attorney, or qualified professional.
Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
Efficient Communication of Medical Records Communication is critical, especially when it comes to sharing medical records with insurance claims adjusters or your company. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.”
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Michael Stack, CEO of Amaxx LLC, is an expert in workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
Click Link to Access Free PDF Download “Workers’ Comp Claims Review Checklist: 9 Must-Have, Serious-Impact Elements” Engage Employers in the Process For employers, active engagement in the claims process is vital. You should consult with your insurancebroker, attorney, or qualified professional.
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If you review the insurer’s file notes online and do not see NCM notes, contact the NCM for an update. He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering WorkersComp Costs: Reduce Costs 20% to 50%. Require the NCM to provide frequent updates. All state laws vary.
Increased Litigation Risk The National Council on Compensation Insurance (NCCI) found that as lag time increases, so does the rate of attorney involvement : Claims reported immediately had a 12.8% He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering WorkersComp Costs: Reduce Costs 20% to 50%.
FREE DOWNLOAD: “9-Element Blueprint To Create Your Workers’ Comp Employee Brochure” 5. Train Managers and Supervisors on Empathetic Communication Frontline managers play a critical role in how employees perceive the workerscomp process. All state laws vary.
Michael Stack, CEO of Amaxx LLC, is an expert workers compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers compensation costs by 20% to 50%. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.
An effective injury investigation ensures that only valid claims proceed, protecting both the company and legitimate injured workers. When employees understand that workers compensation is not a blank check, they are less likely to attempt questionable claims.
Medical cost containment is an essential aspect of managing workers’ compensation claims effectively. Employers and insurance companies face the challenge of controlling medical costs while ensuring that injured employees receive the care they need. All state laws vary.
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