CLAIMS REVIEWS & MANAGEMENTWhenever we look at the costs of an organisation with a number of claims, we regularly identify strategies that will reduce the impact of those claims, and the resultant premium cost. In one recent instance, we reviewed the claims costs of a Nursing Home, and with some strategic impact, their premium reduced by $250,000 per annum immediately. A claims review of your workers' compensation could result in a premium reduction for your business. Your insurer is responsible for the management of your workers' compensation claims. Unfortunately, the Workers Compensation schemes in every state work on the basis of huge numbers of claims being processed, rather than managed. It is really only when directed to a specific issue that real management is able to occur. We like to call it the “Squeaky Wheel Approach” – If you make noise in the right places, it will get fixed! A structured claims review meeting between our consultants, the employer and the insurer will achieve improved management and reduce the cost of claims. It will also give you targeted strategies to reduce the impact of claims on your premium. We always recommend regular reviews of all claims be conducted with your insurer. The reviews will:
Following each claims review, we carry out a thorough analysis of all claims that are impacting the premium, and provide a forecast of where the premium is likely to be at renewal. We don't just focus on the dollar value your insurer assigns to a claim. We identify strategies that will lead to improved and sustained outcomes for both your workers and your company. If you would like to know more about our services, please call
our office on 03 9750 0220, or email help@mcgrathco.com.au |
