Improve your WCB Plan Performance with Proactive Quarterly and Annual reviews
How do you know if your new claims management best practices are working? We encourage you to actively review your plans at predetermined intervals throughout the year to monitor injury trends and the impact on claims to your premiums. By establishing a regular schedule for review you can ensure you stay on top of trends and address rising premium costs.
Let’s explore some of the things you should look for during these reviews.
Quarterly Review Criteria
- Review the incident reporting internal tracking – are you noticing areas of concern or areas of improvement?
- Reviewing WCB correspondence received – is the information accurate? Are dates and times and claims information captured correctly?
Annual Basis
- What’s the comparison of your position relative to your peers? Are you performing on average with your peers, or better, or worse?
- Confirm direction rate is going – are your premiums increasing or decreasing?
- Recommendations from WCB – has WCB highlighted areas of potential plan improvement for you?
- Explore internal trends, highlighting areas that require further attention.
- Second-level technical review of claims (fair adjudication, correct classification, relief of cost measures, account credits). Often options exist for reducing the impact of claims on your experience. Have you spoken to WCB to determine if any are applicable?
By performing these reviews on a regular basis you will be able to go beyond administrative claims management and focus on positively addressing negative trends.
