Consider the advantages of outsourcing claims management

Oct 23, 2019
Written by Terry Hopsecger, Director of Business Development

Most companies focus resources on their core business but leave little time to follow all of Labor & Industries’ laws and requirements.

Often companies need to outsource certain portions of their business and rely on experts to assist. Outsourcing claims management has become a priority and can be a financial savings.

Compliance issues along with many of the complexities that go along with managing employees’ injuries make it necessary to partner with a company to minimize the risks.

At Washington Retail, our claims management program is designed to increase revenues. We ask you to look at this expense as an employee benefit that ultimately comes back to your company as a return on investment. Choosing the right claims management team for your business will have a positive financial impact.

A trustworthy partner can:

  • Identify cost drivers and contain costs with claim closure being a priority
  • Aggressively manage claims to reduce and stabilize the experience factor that will lower your up-front costs on the workers’ compensation premiums you pay
  • Provide oversight with all parties involved to ensure timely closure and removal of case reserves
  • Provide predictive modeling in the early stages of a claim
  • Call on professionals such as attorneys, vocational counselors, and private investigators to assist in the process when needed
  • Provide comprehensive investigations on claims when necessary, regardless of how small or large
  • Keep you informed on all new state rules and regulations that apply to your business
  • Provide members with clear and transparent reviews of financial performance on a monthly, quarterly and yearly basis.
  • Customize the program to meet the needs and requirement of your company
  • Provide online access to your file
  • Assist in creating an Accident Prevention Plan

These are just a few of the competencies to expect when outsourcing claims management. Please don’t hesitate to contact me at [email protected] for more information.