Workers' Compensation Audits
Workers' Compensation is a complex area and often the person responsible for Workers' Compensation within an organization has many demanding responsibilities. If you are that person you want to know that your Workers' Compensation program is working, but you do not have time to evaluate it.
For over 25 years, RMSCO has offered a solution to this problem: claim audits. As part of our CompControlTM services we offer Workers' Compensation claim audits on either a one-time or continuing basis. In a recent audit,RMSCO auditors identified file handling errors and mismanagement that resulted in more than 2 million dollars worth of losses to the Self Insured.
If your Workers' Compensation is Fully Insured, you can still benefit from claims auditing. Case reserving has a major influence on your experience modification factor: if the reservers on your claims are too high your experience modifier and your premium will follow suit. Either in coordination with our Property and Casualty Brokerage placing your coverage or as a stand alone service, our CompControlTM service can monitor your insurance company’s claim file handling to ensure that your reserves (and thus your premium) is appropriate.
At RMSCO we are flexible in our audit pricing. Whether you need a simple one-time sample, or a thorough review with follow-up audits, we can structure our fees to meet your needs. Our auditors will provide you with the benefit of their years of expertise as well as a written summary of their findings. If witness time is required, we can price that on an as needed basis.
For a complete overview of RMSCO’s Workers' Compensation Audit services, please access our Workers' Compensation brochure.
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