E-Mod: Know it. Understand it. Reduce it.

Workers’ compensation insurance is a little complex, at times. Finding ways to save on workers’ compensation costs requires innovation on the prevention side, and a little savvy on the financial side.

A key factor for determining the amount of premium you will pay is the Experience Modifier (E-Mod). This is the multiplier applied to your manual premium rate, which determines how much premium you will be charged. If you are self-insured or have a high-deductible plan, your equivalent of the E-Mod is the Loss Development Factor (LDF).

Your injury prevention programs are the first line of defense. Decreasing the frequency of claims has a big impact on the E-Mod. Proof:Positive can help your organization drive claim frequency down through their Injury Prevention Programs, Ergonomics Evaluations and Safety Training. Investing a small amount in prevention can pay big dividends each year at policy renewal time.

It is also important to work with the right professionals once a claim has occurred. By utilizing health care professionals that understand the concepts of early return-to-work and streamlining the claim process, you can greatly reduce the severity of the claim. By delivering appropriate care and re-introducing the employee to the workplace in a timely manner, Proof:Positive helps “cut the tail off” of workers’ compensation claims. This will help drive your E-Mod down, as well.

By viewing just the workers’ compensation finance costs, the ROI on the prevention/claim management investment is compelling. If productivity increases are considered, these investments become imperative. Contact Proof:Positive to capture these savings, today!

Medical Network Management – Active vs. Passive

Health care providers come in all stripes and the quality of care can vary greatly. Relying solely on your insurance carrier or TPA (third-party administrator) network can be costly. These networks are built by finding providers who will agree to a discounted reimbursement rate, in exchange for more referrals. Some of these providers see very few patients in the workers’ compensation system, and therefore, may not understand the role of early return-to-work in the employee’s recovery.

It’s important to work closely with providers that understand the workers’ compensation system and who can support an early return-to-work initiative, such as, Proof:Positive’s Health and Wellness Room model. Provider network discounts are of little value if the treatment regimen drags on…and on. Professionally-managed Health and Wellness Rooms hasten patient recovery and return-to-work by supporting treatment adherence and improving employee motivation.

Proof:Positive can help you identify providers who support an early return-to-work philopsophy. Contact Proof:Positive today.