The mainstay of all my presentations is the (used to be three) "Five Keys to Saving on Workers' Compensation Costs." This is a time-tested list that will reduce Workers' Comp costs for any employer in any jurisdiction. These come from over 20 years of analyzing claim costs and a study that I performed with over 7,000 Workers' Compensation files. They are:

1. Timely Filing of the First Report of Injury - within 24 hours


2. Physician's Network - where does the employee treat?


3. Return to Work Program - prevents large cases


4. Employee Treatment by Employer, Doctor, Adjuster - reduces malingering and fraud


5. Making Workers' Comp a Priority - do you just write a check to the TPA or carrier?

I found that in a study of the 7,000 Workers' Compensation files that if an employer does not do just one of #'s 1 - 4, the claim cost will increase by 400%. And yes, if none of the first three are done properly the employer will pay 1,200% more than a similar employer that is attending to all of the first three of the five.

I will cover all of them individually through the next five weeks. I will be releasing a manual in the next month that goes even deeper into detail.

Tomorrow - How is Your Workers' Compensation Premium Calculated?

Our main page is at www.cutcompcosts.com