Many workers compensation policies include a provision that allows insurers to conduct workers compensation audits. The results of an audit will affect your premiums, so it benefits you to be prepared! WHAT ARE WORKERS COMPENSATION AUDITS AND WHAT ARE THEY FOR? Unless you’re a smaller employer with a “minimum premium” policy, your workers compensation policy...
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Two Techniques for Managing Claim Costs
Utilization reviews have saved companies around the country billions of dollars in workers’ compensation costs since California mandated utilization review in 2004. Other techniques, such as using a specialized workers’ compensation medical care network, can also work. Here’s a brief overview. Utilization Review Utilization review is designed to bring greater efficiency to the recovery process...
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Drones in the Workplace
Real estate agents use unmanned aircraft systems, or drones, to photograph properties. Amazon promises that it will soon be using drones to deliver packages from its warehouses to your doorstep. And drones could help employers manage risk. In loss control: Drones can access areas out of reach of traditional video cameras, making them a valuable...
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Retrospective Rating Plans
Retro rating plans have been around for years. How do they work, and do they make sense for your company’s workers’ comp program? With retrospective rating plans (retros), the final workers’ comp premium paid for the policy year is calculated retroactively, based on the actual losses incurred during the year. The retro is actually an...
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Can Telemedicine Lower Workers’ Compensation Costs?
Earlier this year, the Alaska state legislature passed House Bill 281, which allows a physician to prescribe drugs without a physical examination. In doing so, it opened the door to telemedicine, at least in remote areas. As the name implies, telemedicine encompasses any medical activity involving distance. Today telemedicine, or telehealth, uses electronic information and...
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