How WCB Claims Impact Your Bottom Line

Pamela Stover WCB Claims Health care costs are only the beginning of the financial impact of a worker’s injury. Lost time claims and mismanaged claims cost businesses in productivity and profits.

Some common issues that affect your bottom line:

  • Internal mismanagement of claims: Untrained or generalists may make internal errors which have a lasting impact on your bottom line as well as missed opportunities.
  • Failure to review claims for cost saving opportunities: Claims should be reviewed by an experienced professional that is versed in law, policy and procedures in order to mitigate claim costs and ensure proper management of a claim. After all, claims costs impact a businesses bottom line that has a lasting effect.
  • Fraudulent misrepresentation claims: Some claims are not as obvious as to the origin of the disability and/or work-related injury and therefore require deeper examination. Unfortunately, some workers are reluctant to RTW or are non-compliant in the process.
  • Improper claim reporting: Lack of information on the Accident Investigation Form and/or Form 7.
  • Late reporting: Cost employers in fines and delayed reporting takes away the ability to properly investigate a claim which can impact your claim costs.
  • No Return to Work Plan: A formal RTW program will assist with getting your injured worker back to work by providing them with meaningful work that allows them to stay involved and is proven to assist in their recovery. It also assists with reducing the overall claim cost and returns skilled workers to productivity.
  • Lack of sustained employer involvement: Some employers believe that once a claim has been established with WorkSafe BC that they can become a passive participant. Whereas, quite the opposite is required.

Effective and consistent claims management reflect ultimately in lower costs of a claim and subsequently lower premiums/surcharges. Our extensive knowledge, expertise and commitment drives us to achieve the best outcomes for our clients.

 

 

PD Stover Professional Corporation specializes in workers’ compensation for employers. We offer: Total Claims Management, Consulting and Representation at Appeals and Tribunals. As a licensed paralegal with the Law Society of Ontario Pam has been managing complex claims and representing clients since 2014 from small businesses to national corporations.

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