Workers’ compensation claims can be expensive endeavors for employers, administrators and insurance companies. The purpose of this Blog Series is to educate employers and claims adjusters on cost containment strategies available during each phase of investigating and managing a workers’ compensation claim. The goal of this Blog Series is to help employers and claims adjusters recognize various cost containment strategies available during all stages of the workers’ compensation claim- from beginning to end.
Cost containment strategy is a broad term that encompasses various strategic mechanisms to effectively manage and contain workers’ compensation claim costs. Finding a balance between promoting an employee’s health and productivity and managing cost containment practices can be challenging. Cost containment strategies help employers, administrators, and insurance companies mitigate their potential risks and/or claim exposures.
Timing is very important when it comes to implementing cost containment strategies. Early intervention is vital for effective medical and disability cost containment strategies. However, an early approach is not necessarily a complete approach. This Blog Series will address what types of cost containment strategies may effectively be implemented at the beginning, middle, and end of the workers’ compensation claim.
The goal of this ten (10) Part Blog Series is to arm employers and claims adjusters with tools that can be implemented during each and every stage of the workers’ compensation claim to help mitigate potential risks and/or claim exposures.
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