LEAKAGE: Most Popular
Errors in payments, usually referred to as "leakage," are a major issue for any insurance company involved in workers compensation claims.
Leakage in workers compensation is defined as the difference between what was paid on the claim and the amount the adjuster should have spent on the claim.
When you review your broker's or insurer's website, there is one subject in workers compensation that most brokers and insurers never mention - leakage.
LowerWC.com interviews industry experts on important and sometimes complex workers compensation issues, such as Medicare set-asides a topic those in the industry can never know too much about. Michelle Leon-Perez, director of Strategic Services for Gould & Lamb (an Amaxx Resource Center advertiser) answers some key questions.
LowerWC.com interviewed Christie Luke, vice president of operations at Gould & Lamb, in Bradenton, FL about custodial administration arrangements for Medicare Set-Asides (MSAs). She starts off with the basics.
Medical costs have increased 21% 2004 to 2009, according to the Bureau of Labor Statistics. Media sources cite medical increases for injured workers rising as much as 50% percent in the same time period.
In the never-ending quest to lower business costs, employers must consider using a fully integrated general liability service provider with solutions unique to the business.
Every adjuster has an individual style when it comes to handling claims. Just like snowflakes, no two adjusters are exactly the same.
When adjusters daydream about work, many dreams are about how much easier life would be if their clients - the employers - knew what they know.
Narcotic spending accounts for 34% of workers compensation medication expenses, according to the 2010 Progressive Medical Drug Spending Analysis.
Benchmarking is the process of either comparing your company's results with the results of similar companies in your industry or comparing your own results for a current time period with a prior time period of the same duration.
Many companies simply do not offer light duty. Instead, they say to their injured workers, "If you are not 100 percent then you are no good to me." How can employers change this attitude?
There are many adages about circumstances just not adding up. Two favorites are "Don't judge a book by its cover," and "Things aren't always what they seem."
Statistics prove litigated workers compensation claims cost the most. We use the broad definition of litigation to include claims where the employee hires an attorney, regardless of how the claim is settled, whether by agreement, workers compensation board decision, or in the courts.
Every state is different with different statues to follow regarding when and how medical treatment can be terminated. Check with your adjuster or insurance carrier to verify how these suggestions apply specifically to your workers compensation claims.