How workers comp claims management software save companies tens of thousands of dollars

Workplace injuries are expensive for the employee, and for the employer. The total cost of  administrative expenses  alone were $61 billion in 2020 according to the National Safety Council. Any reduction in the administrative costs can be applied directly to a company’s bottom line, and the right worker’s comp claims software is able to help.

These administrative costs are just part of the total cost of work injuries. The same National Safety Council data from 2020 reports this total as $163.9 billion which also includes wage and productivity losses of $44.8 billion and  medical expenses of $34.9 billion. A 10% reduction in overall costs each year yields a combined savings of $17 billion dollars annually.

Organizations that turn to workers comp claims management software to efficiently manage claims, and compliance also see the benefit of reduced costs. The right workers comp safety case management software helps in many ways including providing tools to efficiently manage a case, and identify risks for repeat claims so they can be addressed to avoid future claims.

The workers comp claims management process starts when a workers’ comp incident form is automatically routed to the appropriate claims manager or adjuster for review through an employer intake portal.

The case manager then monitors the progress of the claim and can speed up doctor office visits that are slow to respond or slow to schedule appointments.

By reviewing the automated reporting of Lost Time Days and Work Restricted Activity from workers comp claims, the case manager can make accommodations for lengthier absences.  By overseeing costs, the case manager ensures that employees don’t fall through the cracks and lose even more time from work thus costing their employer more in workers’ compensation.

When the case manager reviews the automated reporting of restrictions organized by category, he can help evaluate employees’ physical abilities and skills and how those current skills and abilities can help the company’s productivity by allowing new and lighter job assignments. When an employee can’t go back to his normal job because of valid medical reasons, the case manager helps reintegrate workers who have been on leave back into the organization.

Workers comp claims management software with an interactive diary for notes provide users with additional places for notes so a case manager can monitor how the employee is progressing medically allowing for continuity and communication with the staff doing claims plans. It also facilitates the coordination and evaluation of the rehabilitation plan.

Reminders and alerts are provided in the most useful workers comp claims management software so the case manager can monitor the employee’s follow-up with medical appointments. Additional alerts and trigger notifications allow the case manager to track policy limits and provide warnings when the employee is approaching those limits. 

Reporting analytics identifies risk, patterns, and makes recommendations through analysis of past data, allowing for better decision making because of workers comp claims management software.

With more than 30 years proven history of organizing, tracking, and monitoring workers comp claims from start to completion, Recordables provides the right workers comp software that fosters early return to work by increasing productivity via the use of automated and effective case management.

Written by Bonnie Kofman

How workers comp claims management software save companies tens of thousands of dollars