What makes a workers’ compensation claims team tick?
What makes a workers’ compensation claims team tick?
Not all workers’ compensation claims teams are created equal. What are the factors that make one team out-perform others by
measurable margins? The annual Workers’ Compensation Benchmarking Study published by Rising Medical
Solutions found that only 24% of claims operations are high performers. The study used claims closure ratios to identify
the three key factors that represent the gap for the other 76%.
Three Traits Separate the Great from the Rest
- Best Performers Focus MORE on What’s Most Important
- Invest MORE in PEOPLE
- Invest more in advanced tools and techniques
In a recent publication of EWC Magazine. Rachel Fikes, VP & Work Comp Benchmarking Study Program Director,
Rising Medical Solutions, and Peter Rousmaniere, Risk Management Consultant present a clear interpretation of the
data as well as actionable items under each of the key traits. According to Fikes and Rousmaniere, the best claims teams use an
outcome strategy, versus a process improvement strategy, for success. This is a good indication that going forward employers will
focus more on outcomes.
Read the full article here
Learn more about the study results here