5 Tips for Managing Your Claims

Handcuff FraudIf you’ve been following this blog, you know that accidents are not an inevitable consequence of doing business. By investing in training, personal protective equipment and other safety tools, you can reduce the risk of on-the-job injuries. But when accidents do occur, they carry human and monetary costs. If you follow these claim management tips, you can reduce those costs for your business, your injured workers and their families.

Tip 1. Report injuries promptly

If one of your employees gets injured on the job, notify your insurance company as soon as possible. Prompt injury reporting can help control medical costs and improve claim outcomes. The sooner your insurance carrier finds out about an injury, the sooner they can start helping the employee get well and back on the job.

Tip 2. Launch a return-to-work program

Experienced workers are more valuable when they are on the job, not sitting at home unnecessarily. A return-to-work (rtw) program can help minimize the consequences of workplace injuries.

The goal of the rtw program is to help injured workers recover and return to productive employment as soon as medically reasonable.

More information about rtw is available on TDI’s website Texas Mutual also offers free rtw tools on its website.

Tip 3. Fight workers’ comp fraud

Most claims are legitimate, and most injured workers want to recover and return to work. Sometimes, however, people try to cheat the system. When they do, they take money out of their employers’ pockets.

Fraud costs the workers’ comp system $7.2 billion a year, according to the National Insurance Crime Bureau. Those costs trickle down to everyone in the form of higher premiums.

To learn how you can help fight workers’ comp fraud, visit TDI’s fraud unit and Texas Mutual’s fraud-fighting section.

Tip 4. Stay in the loop

Ask your insurance company if it offers online claim-monitoring tools. For example, Texas Mutual policyholders can access adjusters’ notes, review benefit payments and sign up for automatic alerts about significant changes in their claims.

Tip 5. Understand subrogation

If a third party contributed to an on-the-job accident, your insurance company may be able to recover some or all of the costs from the third party. The process is called subrogation, and it can help reduce your claim costs and your premium.

Most subrogation recoveries involve vehicles, products or premises. You can facilitate the subrogation process if you know what to look for.

For more information about safety and claims, as well as workers’ comp fraud, register for a free Texas Mutual workshop.

One Response to 5 Tips for Managing Your Claims

  1. Pingback: 5 Tips for Managing Your Claims - Dallas/Fort Worth Insurance Advisor

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