Don't Let Your X-Mod Dictate Your Bottom Line
February 22, 2017 | By Ralph Mencia, President, Pride Risk Solutions, Inc.
Pride Risk’s program can help high-risk workers’ comp clients control their experience modifier and total program costs. Our partnership with SouthEast Personnel Leasing, Inc. (SPLI) and their commitment to managing claims has provided our clients with an affordable solution that has yielded long-term financial benefits.
An Elevated Mod Imposes Financial Strain
Many of the clients that come to our program unfortunately share a financially crippling attribute: an elevated experience modifier. The strain of an elevated mod on a client’s profitability is tantamount. In many cases, the driving force is poor claims handling.
Clients of our program are afforded a unique experience and service that has a direct impact on the success of their workers’ compensation coverage.
Positive Impact of Aggressive Claims Management
Third Party Administrator (TPA), Packard Claims, exclusively handles claims for SPLI. This relationship and the beneficial impact of having a true partner to micromanage claims, has proven to be financially effective. Clients in the program have seen a dramatic decrease in their experience modifier, positively impacting their bottom line.
Below are some attributes of Packard Claims:
- Exclusively handles claims for SPLI
- Only focus/core competency is aggressive workers’ compensation claims handling for SPLI clients
- 17 On-Staff Claims Adjusters
- 6 Medical Only Adjusters, focus is investigating every claim
- 7 Case Nurses (3 specific to CA)
- 1 Catastrophic Specialist with 5 Assistants
- 65 to 80 Claims received per week with maximum caseload of 120
- Reserves to ultimate are historically within $1,000
- 4 In-House Attorneys
Please contact Pride Risk today if you have clients that could benefit from a stable and financially sound workers' compensation coverage program with aggressive claims handling.