We all know the best way to lower workers compensation costs for restoration contractors is to prevent accidents from every happening. Unfortunately, that is essentially impossible to do. So after an accident does occur, the simplest way to control the cost of a claim is to report it promptly.
For many injured workers, they are unfamiliar with the claims process and concerns can arise about their financial security, physical and emotional well being, and their ability to return to work. However, by promptly reporting claims, you are allowing the claims adjuster for your workers compensation carrier to quickly establish contact with the injured employee to answer questions and eliminate concerns.
Contact between the claims adjuster and employee can lead a reduction in claims costs by:
Facilitating prompt and appropriate medical care which may possibly avoid medical complications and reduce treatment costs.
Reducing litigation by providing immediate contact and prompt delivery of benefits.
Ensuring prompt and successful return to work to reduce the loss of productivity.
Allowing enough time for a complete accident investigation. (This will also allow for a more accurate portrayal of the events that led to the accidents as it is still fresh.)
Avoiding fines or surcharges that may be awarded if employee benefits are delayed for any reason.
Within your company’s policies and procedures should be a requirement for accidents to be reported the same day with a complete report of the details due within 24 hours. Doing so will help avoid increased claim costs and improve the medical care your employee receives.
If you would like to find out more about how ARI can help your restoration company implement proper accident reporting procedures, please contact our office.