Data analysis critical to overcoming claims challenges in recession
With the introduction of more stringent Medicare reporting guidelines this year, along with difficulties in settling claims and increased pressures to subrogate, one expert said firms need to be equipped with the right tools to address these hurdles.
"Companies are certainly being asked to do more with less," said Carla Cirelli Wynn, director of workers' compensation programs at ARAMARK in Philadelphia. "This is why it is so important to become an educated consumer and understand exactly what you are paying for. Data analysis has become critical in this market. It allows you to discover the ?needle movers' in your program, and focus and target your intervention efforts on those items. That way, if you are faced with a limited number of resources or are short-staffed, you can still maximize your time and get the best bang for your buck."
Wynn will address overcoming claims challenges in a tough economy at the upcoming 18th Annual National Workers' Compensation and Disability ConferenceŽ & Expo, which will take place Nov. 18-20 in Chicago. She said companies need to look at their data and determine how much of the pie is dedicated toward medical spend, indemnity spend, legal spend, and TPA administrative costs.
"If you are finding that those administrative costs are tracking high and not correlating with the downward trend in frequency, you can set about charting a course to contain those costs," she said.
Wynn will also discuss how to focus on subrogation and offer techniques for aggressively settling claims in light of new barriers from Medicare. Jill Dulich, senior director of claims services for Marriott's western region, will discuss how the hotel giant has addressed these challenges. Mark Noonan, attorney and workers' comp consultant, will also provide insight.
Read more at the WORKERSCOMP ForumTM homepage.
October 8, 2009
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