Of course you have. That’s how computers work. They lure you into a false sense of security with all their cool updates and apps and futuristic features, and then when you least expect it and really need them, they strike. All of a sudden, the system is down. That email won’t send. That file is gone. All hope is lost. You know how it works.
There is nothing worse than relying on a broken system.
Unfortunately, if you’re a business owner, that’s exactly what you’re doing every day on the job. The system that I’m referring to is called Workers’ Compensation. It was originally put in place to be a good thing. People that get hurt at work should get help getting healthy again, and their employer shouldn’t have to live in fear of paying for all of the medical bills that come along with it in one lump sum. The system was originally put in place to protect everyone.
That system today works very differently. It’s essentially legal fraud. Every employer is legally required to have workers’ comp insurance and once they have it, everyone in the system, bar none, makes more money the higher the employer’s claims costs are. Everyone in the entire system is incentivized to make claims appear worse than they actually are.
So, we’re stuck with a broken system, but what can you do, right?
Well, it turns out you can do a lot… or we can, at least. At Whiteboard, we are able to get involved with claims in order to control claim costs and until make the system work the way it was meant to.
First, we go through claims history in order to correct any mistakes or miscommunications between those handling claims. At first glance, this doesn’t sound like such a big deal. I mean, how much can a little mistake here or there hurt, and who’s to say that any mistakes were even made in the first place? Well, it turns out that 7 out of 10 businesses have mistakes in that last 8 years of their claims history, and, on average, those mistakes are costing about 20% of one year’s insurance premium. It’s worth giving everything a second look.
Next, we look into any open claims. Due to overworked claims departments, claims commonly get held open for much longer than they need to be. This fact, along with the over-inflated reserve amounts that often get attached to claims, causes claims that should be small incidents to become costly. We get involved with any open claims in order to resolve the claim as soon as possible and in the best interest of the employer.
Finally, we are able to manage all potential claims going forward in order to either eliminate them before their inception or manage them to a favorable result.
It turns out that not every broken system has to stay broken. With the right help, the worker’s compensation system can work the way it was made to.
Who Knows? There may even be hope for your computer too.