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Two Main Reasons Why Workers’ Compensation Costs Skyrocket

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This post will dive into the two primary reasons why workerscompensation costs are often higher than they should be, and how employers can take charge of the process to reduce those expenses. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx WorkersComp Training Center.

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Workers’ Comp Claims Audit: Initial Action Plan Checklist

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Michael Stack, CEO of Amaxx LLC, is an expert in workerscompensation cost containment systems and provides education, training, and consulting to help employers reduce their workerscompensation costs by 20% to 50%. You should consult with your insurance broker, attorney, or qualified professional.

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Best Practices to Prepare for a Workers’ Comp Claim Audit or Review

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When managing workerscompensation, a claim audit or review is a crucial opportunity for employers, carriers, TPAs (Third-Party Administrators), and brokers to come together and optimize claim-handling practices. However, this approach is unproductive. Instead of pointing fingers, focus on constructive dialogue.

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Eleven Considerations for Selecting Your Workers’ Comp Company Doctor

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Willingness to Handle WorkersCompensation Cases Workerscompensation cases come with unique requirements and responsibilities. Your preferred provider must not only accept workerscompensation cases but also be well-versed in the reporting and communication needs involved. All state laws vary.

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Workers’ Compensation Post-Injury Response Procedure: A Key to Effective Injury Management

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Click Link to Access Free PDF Download “Step-By-Step Process To Master WorkersComp In 90 Days” The Importance of a Consistent Post-Injury Response A well-documented and standardized post-injury response plan offers multiple benefits. This includes gathering witness statements and creating an incident report.

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2 Major Types of Transitional Duty in Workers’ Compensation

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Reduces WorkersCompensation Costs : Keeping employees engaged in transitional duty roles helps reduce the overall costs associated with workerscompensation claims. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering WorkersComp Costs: Reduce Costs 20% to 50%.”

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Understanding Classification Rules in Workers’ Compensation

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The higher the risk, the higher the workerscompensation premium for that classification. These rules are established by rating organizations like the National Council on Compensation Insurance (NCCI) in most states, though some states have their own rating bureaus. All state laws vary.