Cost Reduction Areas to Consider:
- Bundled services
When the same insurance company provides the insurance and administers the claims.
- Unbundled services
The insurance and claims adjusting functions are separate.
- Deductible affects control
The higher the deductible, the more control the employer has over how claims are handled. Self-insured organizations have the most control over their claims.
- Communication and meeting with claim partners and handlers
Best Practices require regular communication.
- Reviewing open claims regularly
Discuss claims and transitional duty opportunities; assess employee return-to-work status; fine tune plans of action; check for fraud; and develop a time line for claim resolution.
- Account handling instructions address:
- Settlement authority
- Timing of status reports
- Subrogation waivers
- Recorded statements
- And More
For more information about this chapter, see the Table of Contents
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