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Temporary Staffing Company: 70% Light Industrial 33 States Self Insured /Self Administrated & Large Deductible 1 Million Retention 5500 Workers’ Compensation Claims per year 35 Million in WC Cost in 2013 76 Million in Outstanding WC Liability.
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Temporary Staffing Company: 70% Light Industrial 33 States Self Insured /Self Administrated & Large Deductible 1 Million Retention 5500 Workers’ Compensation Claims per year 35 Million in WC Cost in 2013 76 Million in Outstanding WC Liability
Self InsuranceHow to Ensure a Successful Program: Corporate Level –Executive Management • Commitment to the Program • Financial Understanding
Administration of the Program • Direct Accountability • Know Your Business- Tailor it to Fit • Ability to Adapt • Involvement with State(s)
Control • Direct Control over Claims • Direct Control of Financial Obligations • Direct Control over Service Providers • Direct Control over Legal • Direct Control over Closing/Settlement
Indemnity Bucket • Set Return to Work Expectations- Light Duty or Non-Profit • Explore Compensability State Specific Issues • Don’t Settle (It’s not what you think…)
Medical Bucket • Control Medical • Physicians (State specific-when you can) • PBM ( No physician dispensing) • Independent Medical Exams • Physical Therapy • Find and Control Cost Containment Programs • Diagnostic • DME • Home Health • Surgical Implants • Save Money $$ & Time • Web-Base Program-Bidding for our business
Allocated Expenses • Direct Control over Legal • Surveillance • Indexing & Medical Canvass costs • These Costs are necessary to help CONTROL the Indemnity & Medical Buckets
Involvement • Adjusters Level- Commitment to the Team • Service Provider Level- Understanding Your Business • Management Level-Commitment to Stay Involved Total CONTROL of Your Program