The big question from most of our clients is, “How do I know which claims to pursue for settlement?” I usually follow the question with a question of my own. “What are you trying to accomplish overall?” In most cases employers simply want to reduce reserves and long term expenditures.
There are a number of criteria we discuss:
- Do the claims involve former employees?
- Are they catastrophic injury claims?
- Are they old forgotten claims?
- Do the claims have long term unresolved legal issues?
- Can you settle the claims for the estimated reserve exposure?
- Do you have an accurate projection of future medical exposure?
In most cases our clients use these simple questions to develop proactive criteria for identifying prospective claims for settlement. By developing a proactive approach to settling claims an examiner can eventually realize better control over their claim inventory and the employer a significant reduction in legal & medical costs as well as a reduction in reserves. I hope this is helpful.
Please let us know if we can help you move a case toward settlement using our Medical Cost Projection service or Medicare Set Aside arrangement.
Medicare Compliance & Settlement Solutions 