Effects of Business Losses With High Insurance Claims

Effects of business losses with high insurance claims (workers compensation).
While every person would love to reduce their monthly bills, business losses with high insurance claims and workers compensation can help to offset medical costs, if the injury is real. When this happens, you are able to claim your medical bills under your company's insurance, allowing them to pay for the injury you sustained at work.
If the injury is real and you ask for genuine workers compensation then nobody can deny you the claim. But if you try to exaggerate the injury or sickness or milk it longer than is necessary by claiming more money from the source that has given you bread and butter for a long time in your life, the company can turn around and come after you for falsifying your documents and stealing for the company.
With workers compensation a person can claim the medical expenses from injuries sustained by him or her while working for the company. However, many people exaggerate their injuries as well as their medical expenses in an attempt to get more money from the company. This can also be done by documenting an extended period of time for recovery from the injuries sustained. This causes the company more burdens from the insurance and as such places a particular burden on the boss of the company but also the co-workers and friends who work at the same company. The worst case scenarios are a company may go into a loss if it is a small company and trying to make ends meet. If a company is mid-sized then there might be cuts in salary for the employees and also possible cancellation of bonuses at the end of the fiscal year.
Thus we should try to be more careful at work in order to avoid such situations, which may lead to drastic steps taken by the company. Create an effective policy for on the job injuries. The one thing that I have learned over time is employee will always try to milk the system if you allow them to. Hire an established professional to look at your insurance program. As I mentioned before creating an effective return to work plan is critical to cutting your losses. Along with making sure that your "special account instructions" with your insurance carrier. Keeping control and be notified on all major issues cuts down on cost. Insurance company make there money on handling each claim.

PJ Consulting Group, LLC can help you increase your bottom line by looking at your insurance claims program. Our motto is: Seeing is believing! We can help you create an effective program and start saving you money immediately.
Coming soon--March 2012 http://www.pjconsultgroup.com

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Differences in Medical Care and Workers Compensation Bill Review

The goal of any medical service review process is to ensure that everyone is satisfied. Bill review is a service provided by a third party that acts as an intermediary between the worker, the employer, and the insurance company to ensure that the needs of all of those involved are being met. These types of services can be used for anything medically related to ensure accuracy of charges. The key is that the information provided by the review provider is personalized to meet your specific needs.
Workers compensation insurance is a benefit provided to an employee who is hurt on the job. With workers comp, the employee will receive the care they need to recover from an injury or work-related illness. It is not designed as total wage replacement and eventually the employee is expected to return to work. Between the employee, employer and insurance company, keeping everyone satisfied is difficult. The care provided has to at least be adequate but not excessive so bill review is a great tool that can be utilized to ensure that everyone is satisfied.
Medical procedures and follow-ups with a medical provider can add up quickly and it's easy to get carried away. Medical bill review is used as a tool that indicates the approximate return to work date for the employee as well as highlights anything that the insurer or business may deem unnecessary for recovery. In terms of cost containment and accurate medical care, these types of analysis are extremely useful for workers compensation.
Medical service bill review in general differs from worker's compensation because it encompasses all medical bills, not just those incurred in relation to an on-the-job injury. For instance, if an employee goes to an out-of-network physician because they got hurt on vacation, the reviewer will catch the discrepancy and notify the concerned parties that this medical visit will be more expensive. It has nothing to do with being hurt on the job but since medical insurance is carried through an employer, management software or a review company is still utilized.
All of the aspects of medical bill reviews can be used generally for medical care or for workers compensation more specifically. The benefit of personalized review through a specialized provider is the customization of the information. Workers compensation requires return to work estimates whereas general medical reviews are utilized to highlight medical care discrepancies like using an out-of-network physician. No matter what the system is used for, it's a great way to ensure personal service and rigorous cost containment.

Dave Hutton represents CompComplete a managed care services provider supplying medical bill review services and a number of other specialized services to care providers and management involved in workers compensation coverage.

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