Prompt Claims Reporting
Directly Affects Your Bottom Line!
REPORT CLAIMS PROMPTLY AND SAVE FROM THE START
The easiest way to keep your claim cost as low as possible is through
proactive claims management. According to an NCCI study on lag time,
injuries reported during:
Week two after the date of the accident cost an average of 18 percent more than those reported during week one.
Weeks three and four average a 30 percent greater cost!
After four weeks, costs increase 45 percent!
And the injuries most susceptible to lag-time cost increases?
Back injuries – they average 35 percent higher costs when reported after the first week.
What can you do?
The first step to controlling your claim cost is as easy as reporting claims quickly.
Rosenkilde & Associates can assist to establish effective claims reporting procedures or streamline current processes to improve your loss history – and ultimately affect your overall premium dollars. Call us today to learn more about how we can help you protect your bottom line.
Source: NCCI Summer 2000 Issues Report, “The High Cost of Delays: Findings on Lag-Time Study” by Glen-Roberts Pitruzello.