Services
A Quick Look at Solutions
I've pulled out a few case studies for your review. Each case is different - each had a different problem - but a customized solution was created and implemented - and now they're back in control of their Workers' Compensation cost.
Look at these situations and see if any are similar to the issues you're having. One of these clients goes back nearly 25 years so our solutions are long term and we monitor them several times each year. Think about this - it our changes made an average difference of $135,000 per year, this client has kept $3,375,000 in their pocket and NOT their workers' compensation insurance company.
If one of these case studies sounds familiar, send us a note and we'll run through a quick analysis and see what we can do to help.
Mod Puzzles Solved - Cost Contained
Staffing Agency
Background - A staffing agency reached out as their mod was starting to climb above 1.00 and the were not getting any solid advice from their current agent.
Problem - They were being impacted by several small to medium size claim and this volume was causing their experience mod to increase.
Solutions -
1.One state they were operating in was "deductible friendly" and by putting in a deductible, many of those small claims were eliminated. By paying for these claims, they prevented a single injury from becoming a multi-year problem.
2. They were operating in ERA (Experience Rating Adjustment) states and a return to work program was a huge help.
Result - The mod is now 20 points lower - and still falling.
Regional Contractor
Background - With a mod above 1.00, some jobs were unavailable as they required a sub-1.00 mod factor.
Problem - The carrier they were with was not very aggressive - or creative - and injuries were not being resolved quickly.
Solutions -
1. We jumped right in and got the carrier in gear. By aggressively closing a single claim, the mod dropped nearly 25 points.
2. We moved their coverage to a more attentive insurance carrier and now all claims are address - worked - resolved in a timely basis.
Result - Their mod is now below .70 and that is nearly 75 points lower than it was previously. Their work comp cost has been cut in half and they have access to bid ANY job they wish.
Health Care Related
Background - This insured received their first experience mod and it was over 1.25. This was causing some issues with the other entities they worked with and we needed to get it down.
Problem - A "single year mod" is one of the hardest to explain - but one of the easiest to fix. If they had received better guidance on the front end, their mod would never have gone up.
Solutions -
1. Education - Being their first mod, they had no idea what drove the factor up. Some quick training - some simple plans put in place - and now wait for the new years to hit the worksheet.
2. Being in a deductible friendly state, we were able to "burn the candle at both ends" - work existing claims off the worksheet AND keep new ones from being added on.
Result - Their mod has dropped from nearly 1.70 to close to .85. We also moved them to a preferred carrier and now their work comp costs are 40% of what they used to be.
Manufacturing Operation
Background - There was a disconnect between production and management (I know - first time this has ever happened).
Problem - This disconnect was causing more claims with longer recovery times. Management was not reaching out to the injured employees and the employees were happy for the extended time off.
Solutions -
1. A safety committee was top on the list. This helped bridge the gap between production and management. This allowed the production staff to see management was interested in safety for THEM - not just to try and make more money. Once this bridge was built, we started to see immediate results.
2. They operate in an ERA (Experience Rating Adjustment) state and getting employees back to work quick was a huge help.
3. An easy report was pulled together for the safety committee so they could see there were making a difference. This really helped them be more focused and productive.
Result - Their mod is down over 170 points and their premium is 30% of what it used to be.