Compensation, Insurance Broker and Workers Compensation

Two Main Reasons Why Workers’ Compensation Costs Skyrocket

AMAXX

OCTOBER 15, 2024

One of the most significant challenges for employers today is managing the rising costs of workers’ compensation claims. This post will dive into the two primary reasons why workers’ compensation costs are often higher than they should be, and how employers can take charge of the process to reduce those expenses.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

4 Step Process to Successfully Settle More Workers’ Compensation Claims

AMAXX

NOVEMBER 5, 2024

Successfully settling workers’ compensation (WC) claims can significantly reduce costs and streamline processes for employers and insurers. This four-step process not only reduces costs but also fosters better outcomes for injured workers and employers alike. All state laws vary.

Workers Compensation

Workers Compensation Compensation Claim Workers Comp

Understanding Classification Rules in Workers’ Compensation

AMAXX

AUGUST 7, 2024

When it comes to managing workers’ compensation, understanding classification rules is fundamental. The higher the risk, the higher the workers’ compensation premium for that classification. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk.

Workers Compensation

Workers Compensation Compensation Workers Comp Premium

Physical Therapy, Occupational Therapy, and Vocational Rehab in Workers’ Compensation

AMAXX

OCTOBER 24, 2024

This not only benefits the employee but also the employer by reducing workers’ compensation costs and minimizing downtime. Occupational therapy (OT) is similar to physical therapy but focuses more on helping workers regain the specific physical abilities they need to perform their job duties. What Is Occupational Therapy?

Workers Compensation

Workers Compensation Compensation Injury Workers Comp

5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

AMAXX

AUGUST 21, 2024

In the complex world of workers’ compensation, setting accurate reserves is a critical task for adjusters. Reserves are the funds set aside by an insurer to cover the future costs of a claim, including medical expenses, lost wages, and other associated costs. Is the Cost for the Claim for Life?

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

2 Major Types of Transitional Duty in Workers’ Compensation

AMAXX

OCTOBER 8, 2024

In the world of workers’ compensation, one of the most powerful strategies for managing costs while helping injured employees return to work is the implementation of a transitional duty (TD) program. You should consult with your insurance broker, attorney, or qualified professional. All state laws vary.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

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

AMAXX

SEPTEMBER 16, 2024

This helps in managing workers’ compensation costs more effectively, as the employer takes the lead in coordinating care and managing the return-to-work process. Proper documentation not only aids in managing the workers’ compensation claim but also helps protect the employer against potential legal challenges.

Injury

Injury Workers Compensation Compensation Workers Comp

Blog Post: Frequently Asked Questions on Complex Employment Issues for California Workers’ Compensation

LexisNexis

OCTOBER 10, 2024

Rassp, Presiding Judge, WCAB Los Angeles, California Division of Workers’ Compensation Disclaimer: The material and any opinions contained in this article are solely those of the authors and are not the opinions of the Department of Industrial Relations, Division of Workers’ Compensation, or the WCAB, or any other entity or individual.

Workers Compensation

Workers Compensation Compensation Workers Compensation Insurance Injury

Understanding the Impact of Frequency and Severity on Workers’ Compensation Premiums

AMAXX

SEPTEMBER 23, 2024

When it comes to calculating workers’ compensation premiums, two critical factors play a significant role: the frequency and severity of claims. Frequency: The Stronger Driver of Premiums In the world of workers’ compensation, frequency refers to how often claims are filed.

Workers Compensation

Workers Compensation Premium Compensation Workers Comp

Blog Post: Herlick, California Workers’ Compensation Handbook: 2024 Developments

LexisNexis

OCTOBER 22, 2024

By Julius Young, Richard Jacobsmeyer, Barry Bloom, Editors-in-Chief for Herlick, California Workers’ Compensation Handbook [Note: This article is excerpted from the upcoming 2025 edition of Herlick, California Workers’ Compensation Handbook. The AI revolution is starting to come to workers’ compensation.

Workers Compensation

Workers Compensation Compensation Claim Injury

The Role of an Injury Coordinator in Workers’ Compensation Management

AMAXX

JULY 29, 2024

In the realm of workers’ compensation, the role of an injury coordinator is pivotal. Based on the comprehensive guide from the Workers’ Compensation Manual, this blog will explore the responsibilities, best practices, and significance of an injury coordinator in an organization.

Workers Compensation

Workers Compensation Injury Compensation Workers Comp

Part 1: Permanent Total Disability in Workers’ Compensation: Now What?

AMAXX

JULY 1, 2024

Issues concerning permanent total disability (PTD) benefits are a significant cost driver in workers’ compensation claims. You should consult with your insurance broker, attorney, or qualified professional. appeared first on Amaxx Workers Comp Blog. Do not use this information without independent verification.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

Avoid 2 Common Pitfalls That Delay Care in Workers’ Compensation Claims

AMAXX

JULY 15, 2024

One of the most critical aspects of managing workers’ compensation claims is ensuring that injured employees receive prompt medical treatment. Unfortunately, a common procedural mistake can leave employees in a painful and detrimental limbo: the delay of care due to technicalities in insurance coverage.

Workers Compensation

Workers Compensation Compensation Claim Workers Comp

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

AMAXX

OCTOBER 1, 2024

When managing workers’ compensation, 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.

Workers Comp

Workers Comp Claim Workers Compensation Compensation

Eleven Considerations for Selecting Your Workers’ Comp Company Doctor

AMAXX

SEPTEMBER 10, 2024

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

Workers Comp

Workers Comp Workers Compensation Compensation Injury

One AI Takeaway from 2024 National Comp in Las Vegas

AMAXX

OCTOBER 28, 2024

The way we implement AI in workers’ compensation — that’s a tactic. However, the principles of workers’ compensation will never change. Whether it’s the year 2025, 2030, or even 2300, these foundational elements will still guide how we manage claims and help workers. All state laws vary.

Workers Comp

Workers Comp Workers Compensation Compensation Injury

What’s Your Why? A Collective Portrait of Purpose and Compassion at National Comp 2024

AMAXX

NOVEMBER 12, 2024

Portraits of Purpose” engagement activity at Paradigm’s booth, invited participants to share the driving force behind their work in the workers’ compensation industry. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” What’s Your Why?

Workers Comp

Workers Comp Workers Compensation Injury Compensation

Workers’ Comp Claims Audit: Initial Action Plan Checklist

AMAXX

OCTOBER 7, 2024

Claims audits and reviews are one of the most commonly used tactics by companies to control workers’ compensation costs. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” All rights reserved under International Copyright Law.

Workers Comp

Workers Comp Claim Workers Compensation Compensation

Effective Communication with Injured Workers: Best Practices for Success

AMAXX

AUGUST 12, 2024

In workers’ compensation, communication with injured workers is a critical aspect that can significantly influence the outcome of a claim. Proper communication helps facilitate a smooth return-to-work process and plays a crucial role in maintaining the injured worker’s morale and engagement with the organization.

Workers Compensation

Workers Compensation Workers Comp Injury Compensation

Part 3: Permanent Total Disability – Other Defenses to Consider

AMAXX

JULY 9, 2024

These matters must be considered when seeking to maximize the efficiency of any workers’ compensation program and reduce costs. Consider Vocational Retraining Retraining is a dirty word in workers’ compensation, given the expenses associated with the process. Evaluate the various options. All state laws vary.

Workers Compensation

Workers Compensation Workers Comp Injury Compensation

Part 1 of 3: Are You Sabotaging Your Return to Work Program-Hidden Policy Obstacles

AMAXX

NOVEMBER 11, 2024

Returning an injured employee to work is a critical aspect of workers’ compensation management. By making small tweaks—patching the holes in your RTW bucket or adjusting the brakes on your bike—you can significantly improve outcomes and see greater success in your workers’ comp management program.

Policy

Policy Workers Comp Workers Compensation Injury

Part 2: Permanent Total Disability – Focus in On Job Search

AMAXX

JULY 8, 2024

If a position is only attributable to the personal relationship between the employee and employer, PTD benefits could be compensable. Expert and Employee Depositions: Expert depositions are usually used as direct evidence at workers’ compensation hearings. Sheltered workshop employment. All state laws vary.

Workers Comp

Workers Comp Workers Compensation Injury Compensation

5 Proven Strategies for Physician Oversight to Contain Workers’ Comp Medical Costs

AMAXX

SEPTEMBER 9, 2024

Medical cost containment is an essential aspect of managing workers’ compensation claims effectively. Employers and insurance companies face the challenge of controlling medical costs while ensuring that injured employees receive the care they need. Proper timing is also essential to avoid unnecessary delays.

Workers Comp

Workers Comp Injury Compensation Workers Compensation

Navigating the Conflicting Roles of Supervisors in Workplace Injury Management

AMAXX

AUGUST 27, 2024

Building on Success: Enhancing Existing Practices Once a comprehensive injury management program is in place, it’s important to build on existing internal processes to closely manage workers’ compensation and improve overall safety outcomes. You should consult with your insurance broker, attorney, or qualified professional.

Injury

Injury Workers Comp Workers Compensation Compensation

Quiz: Supervisor Response to a Workplace Injury – How Would You Respond?

AMAXX

AUGUST 26, 2024

The lack of support and the implied threat regarding the promotion could lead the employee to seek legal counsel to protect their rights and secure compensation for their injury. By preventing injuries from worsening and minimizing disputes, companies can significantly reduce their workers’ compensation costs.

Injury

Injury Workers Comp Workers Compensation Compensation

Navigating Difficult Return to Work Scenarios: Strategies and Best Practices

AMAXX

SEPTEMBER 3, 2024

Return to Work (RTW) programs are essential components of an effective workers’ compensation system. Michael Stack, CEO of Amaxx LLC, is an expert in workers’ compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers’ compensation costs by 20% to 50%.

Workers Comp

Workers Comp Injury Workers Compensation Compensation

Part 2 of 3: Overcoming Return-to-Work Challenges in Union Environments

AMAXX

NOVEMBER 19, 2024

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

Workers Comp

Workers Comp Workers Compensation Injury Building

Workers’ Comp Cost Formula To Accurately Assess Your Risk

AMAXX

JULY 30, 2024

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

Workers Comp

Workers Comp Risk Workers Compensation Injury

Pandemic Fuels Growth in Captive Insurance

Triple-I: Workers Compensation

APRIL 4, 2022

If such a captive insures only the risks of its parent or subsidiaries, it is called a “pure” captive. The global insurance broker and risk advisor’s survey of more than 1,300 captives also shows that gross written premiums in this area grew from $54 billion in 2019 to nearly $61 billion in 2020.

Workers Compensation

Workers Compensation Insured Insurance Insurer

The Importance of Return-to-Work Programs

AMAXX

JULY 23, 2024

Effective Return-to-Work programs can significantly reduce the costs associated with workers’ compensation claims. Studies have shown that a small percentage of workers’ compensation claims account for a large portion of the costs. However, this probability dropped to 55.4% after 13-26 weeks, 32.2%

Workers Comp

Workers Comp Injury Workers Compensation Compensation

Insurance Industry Brief

Two Main Reasons Why Workers’ Compensation Costs Skyrocket

4 Step Process to Successfully Settle More Workers’ Compensation Claims

Trending Sources

Understanding Classification Rules in Workers’ Compensation

Physical Therapy, Occupational Therapy, and Vocational Rehab in Workers’ Compensation

5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

2 Major Types of Transitional Duty in Workers’ Compensation

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

Blog Post: Frequently Asked Questions on Complex Employment Issues for California Workers’ Compensation

Understanding the Impact of Frequency and Severity on Workers’ Compensation Premiums

Blog Post: Herlick, California Workers’ Compensation Handbook: 2024 Developments

The Role of an Injury Coordinator in Workers’ Compensation Management

Part 1: Permanent Total Disability in Workers’ Compensation: Now What?

Avoid 2 Common Pitfalls That Delay Care in Workers’ Compensation Claims

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

Eleven Considerations for Selecting Your Workers’ Comp Company Doctor

One AI Takeaway from 2024 National Comp in Las Vegas

What’s Your Why? A Collective Portrait of Purpose and Compassion at National Comp 2024

Workers’ Comp Claims Audit: Initial Action Plan Checklist

Effective Communication with Injured Workers: Best Practices for Success

Part 3: Permanent Total Disability – Other Defenses to Consider

Part 1 of 3: Are You Sabotaging Your Return to Work Program-Hidden Policy Obstacles

Part 2: Permanent Total Disability – Focus in On Job Search

5 Proven Strategies for Physician Oversight to Contain Workers’ Comp Medical Costs

Navigating the Conflicting Roles of Supervisors in Workplace Injury Management

Quiz: Supervisor Response to a Workplace Injury – How Would You Respond?

Navigating Difficult Return to Work Scenarios: Strategies and Best Practices

Part 2 of 3: Overcoming Return-to-Work Challenges in Union Environments

Workers’ Comp Cost Formula To Accurately Assess Your Risk

Pandemic Fuels Growth in Captive Insurance

The Importance of Return-to-Work Programs

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