Control Workers Compensation Costs 

You Can Control Workers Compensation Costs by Managing Claim Reserves that are charged in the premium through the Experience Modification Factor.

Past Claims and Reserves

Analyze Frequency & Severity Of Claims For Accuracy & Impact On Your Experience Modification

Submit Any Errors In The Insured's Favor For Revision To The Rating Bureau

Recalculate Premium Audits Based On Experience Modification Revisions 

Obtain on The Client's Behalf Any Outstanding Return Premiums As A Result Of The Revisions 

Earned Premium Audit Charges Including but not limited to Second Injury Fund Charges, Discounts, Deviations, and Scheduled Credits. 

Review Each Claim And Expedite Settlement

Negotiate Reserves With Your Insurance Carrier

Investigate Fraudulent Claims

Control Workers Compensation Cost through RETROSPECTIVE RATING ADJUSTMENTS

Self-Insurance (Large Deductible) and Loss-Rated Plan Reviews

Audit Reserves For Accuracy Including Mandated Statutory Credits and Reserve Calculations.

Audit Premium/Loss Rate Loads, Adjustment and Tax Multiplier Charges 

Audit Claims Adjustment Charges

Audit Allocated Loss Adjustment Expenses

Control Workers Compensation Cost by Challenging Loss Development, Premium Loads, Tax Multipliers  

Recalculate Adjustments And Obtain Return Premiums Where Applicable 

Review and Evaluate Insurance and Collateral Contracts 

Check State Filings Against Contracts and Annual Adjustments, Claims Fee Charges, Excess Insurance Charges, Taxes, Letter of Credit Review.

Control Workers Compensation Cost by a TPA Claim File Review

Third Party Administrator charges are carefully reviewed against the actual work product to determine level and value of the services.

Benefits of Claim Auditing & Reserve Reviews Control Workers Compensation Costs by Reducing Reserves

Demonstrates an improved loss history and improves underwriting alternative programs. 

Produces higher dividends and lower retrospective rated premiums. 

Results in lower earned premium audit bills.

Control Workers Compensation Costs by Verifing Claim Files Handled, Adjusted and Maintained by:

Insurance Carriers

Third Party Administrators

Group Trusts

State Insurance Funds

Safety Groups

Captive TPA's

In-House Administration of Self-Insurers

Claims Verification Management Reduces the Cost of:

Purchasing Groups that underwrite and adjust
Large Deductible Plans (Self-Insured Plans)

Retrospective Rated Plans

Scheduled Dividend Plans

Loss-Sensitive Dividend Plans

Retention Plans

Cost-plus Plans 

Reserve reviews for: 

The Oracle Consulting Group Members and Affiliates, Consultants, Accountants, Attorneys and other Industry Professionals

Additional Verification Applications:

Premium Adjustment Reviews

Dividend Statements

Litigation Support

Due Diligence for Merger/Acquisitions

Claims Auditing Documentation Verification

 We Invite You to review our website, Blog, White Papers and Video presentation to learn more about The Oracle Consulting Group's Cash Flow & Revenue Recovery Consultancy Service Offerings.

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