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  • The Pareto Principle: Applying the 80/20 Rule to the Connected Claim in Workers’ Comp
Auto Casualty

The Pareto Principle: Applying the 80/20 Rule to the Connected Claim in Workers’ Comp

Event Details

Start: March 24, 2021 @ 8:00PM EDT End: @ Location: Online Event

Successfully managing workers’ compensation claims requires a delicate balance of connectivity, expertise and focus. Applying these key principles across your organization can help you to see the full picture of the claim to identify opportunities, understand data insights, apply automation and most importantly, allow your organization to identify and support the claims that require extra attention. In this on-demand webinar, which was recorded as part of National Comp's 2020-21 Digital Session series, Mitchell | Genex | Coventry experts will explain how applying the 80/20 rule to workers’ compensation claims processing can help injured employees get back to work and lead to better outcomes across the organization. https://vimeo.com/521978837

Presenters

  • Rebecca Morgan, Vice President, Product Management, Mitchell Casualty Solutions
  • Tim Howard, Sr. Vice President, Field Case Management, Genex Services
  • Mitch Freeman, Pharm. D., Chief Clinical Officer, Mitchell Pharmacy Solutions
  • Anne Levins, Vice President, Product Strategy & Analytics, Coventry

What You’ll Learn

Watch this webinar to find out how to apply the 80/20 rule to workers’ compensation claims processing using a balance of connectivity, expertise and focus:

  • Find out specific ways you can increase connectivity across your claims workflow using technology and how that can help you see the entire claim end-to-end—remember, you can’t manage what you can’t see.
  • Learn how to use data to identify the right balance between automation and expertise.
  • Hear real-world stories about the importance of focusing in on complex claims—especially in the time of COVID-19—and learn how to keep claims moving forward.

https://www.mpower.mitchell.com/event/changing-insurance-workforce-trends-podcast/

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The workers’ compensation and auto casualty industries today are still in most cases, bogged down by paper. While it can be challenging to transition a claims operation to digital, removing paper from the claims process can provide many benefits, including improving data quality, efficiencies and effectiveness, and can help payors comply with current state regulations and adapt to future regulations. One highly effective and relatively simple method to move toward a paperless approach is implementing an electronic payment system to create a medical claims workflow where payment, fulfillment, remittance and filings can help carriers eliminate paper checks and the administrative processes and costs that come with them.

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Payers and the companies they represent are eager to get injured workers back on their feet and back on the job. Many of these companies represent the heavyweights of corporate America. Major employers like manufacturers, large retailers, and airlines rely on comprehensive return-to-work programs to help their injured employees recover. The best programs do far more than safeguard the bottom line. They focus on truly addressing the needs of injured workers themselves. That’s because the longer workers are away, the less likely it is they will return to the workplace. The New York State Workers’ Compensation Board has broken down some statistics, and reports that there is only a 50 percent chance that an injured employee will return to work after a six-month absence. That drops to a 25 percent chance following a one-year absence. After two years away, the likelihood a worker will return plunges to a 1 percent chance.

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