Workers Compensation Claim Settlement Factors
Posted on: May 24, 2016 by Signature Insurance Group
There are many factors that contribute to settling workers’ compensation claims. In fact, a common misconception is that from the point of injury to settlement, there isn’t much that can be done cost-wise. However, many fail to acknowledge the claim tactics and negotiation strategies that can drive the costs of an Orange County Workers’ Compensation claim down.
According to an article in AMAXX, there are several factors that can contribute to Workers’ Comp settlements. Here are a few:
All claims should be reported immediately. Waiting days or weeks can cloud the memory of witnesses and cause injuries to worsen if left untreated. When done promptly, adjusters are able to get testimonies, interview witnesses, investigate the accident, and refer injured employees to medical professionals.
Stay in the loop on the employee’s medical care and maintain constant contact with doctors. Follow up to see when the employee can return to work safely- remember, the earlier the better. This strategy of claim management can expedite the process and reduce costs.
A few things the adjuster should consider are the jurisdictional requirements, the value of any offsets, the value of future medical treatment, the cost of vocational training if needed, etc. These costs can easily accumulate, so don’t hesitate about contacting the adjuster about additional recovery fees you will be expected to pay.
At Signature Insurance Group we understand the importance of making sure that your employees are able to get back to work after an injury. Call us today at 855.972.9437 or more information on our So Cal Workers Compensation Insurance.