Negotiating with Workers Compensation Insurance Companies

One of the things that makes nursing home care so high risk is the fact that care providers are constantly assigned with the duty of manually lifting patients. They spend a great deal of their day moving residents to and from bed, assisting with bathing, as well as positioning patients in chairs. These are all activities that can cause micro-injuries to the spine and trigger moderate to severe musculoskeletal disorders.

These injuries, in turn, not only wreak havoc on the health and earning potential of workers but also on the turnover rate and financial health of the owners and operators of nursing homes. Your job is to help facilitate the needs of your clients by steering them in the direction of qualified workers compensation insurance companies to help deal with these concerns.

Reducing risks associated with nursing homes

As an agent, your insight can be of great value to your clientele. Explain to them some of the ways in which they can protect themselves from major losses caused by workers’ comp claims. Putting certain policies and procedures in place can enhance safety, and also shore up their bottom line.

There are risk management specialists available with experience helping healthcare companies, nursing homes, and senior living environments lower their risk. This starts by building a foundation of understanding, recognizing what they might not know about workers’ compensation, and becoming educated about the workers comp system, along with learning some key terms from the insurance industry.

Understanding experience modification

Experience modification rate relates specifically to their workers’ compensation premium and warrants some attention. Simply put, a facility’s mod is based on the number and severity of workers’ comp claims filed in the past. Insurance companies use this rate to gauge past injuries and potential risk to predict future losses and calculate workers’ comp premiums.

Therefore, by implementing safety standards (such as wearing a back brace), care providers can reduce back injuries and help in lowering premiums. Many workers compensation insurance companies offer discounts for taking such preventative measures.

Lower back pain is an enormously expensive problem and accounts for a quarter of all payments for workers’ compensation claims. Back pain is a very common reason for having to visit a doctor. Therefore, in order to deal with the problem, many employers and employees have chosen back belts to provide support to the lumbar region of the spine.