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Variable Cost of Risk Evaluator (VCORE℠)

Helping you gain control over your workers' compensation program costs.

One of the greatest challenges faced by companies is effectively managing the variable costs associated with their workers' compensation program. Marsh's Variable Cost of Risk Evaluator (VCORE) is here to help. Our innovative tool allows you to compare vendor costs, empowering you to select the most effective external program for your organization.

Accurate cost comparisons for informed decision-making

Comparing the total cost outcomes of competing carrier and third-party claims administrators can be a daunting task. Differences in claims administration philosophy, policies, and procedures make it difficult to accurately assess the true value of each option. That's where VCORE comes in. Marsh's claims consulting team has developed VCORE, a proprietary tool designed to provide a comprehensive view of the external costs associated with your workers' compensation program. By analyzing estimated costs charged per year, VCORE helps you identify the workers' compensation vendor(s) that could improve your financial outcomes.

A holistic approach to cost comparison

Traditional comparisons of claim administrators often focus solely on fees, neglecting the larger picture. VCORE utilizes actual outcome data from competing claims administrators to provide side-by-side comparisons of estimated medical costs and claims administration fees. It also takes into account a claims administrator's medical bill history, applying your specific geographic distribution, medical bill type mix, claims history, and other exposure information to estimate your medical costs with each vendor. This level of detail allows for a more consistent and accurate evaluation of claims administrator cost outcomes with the goal of helping you reduce program expenses.

Enhanced precision in calculating claims handling fees

Total claims handling fees can vary significantly based on the definition of "indemnity" or "medical-only" claims. Each claims administrator may have a different pricing structure for these claim types, resulting in substantial differences in claims handling costs. VCORE addresses this issue by estimating the total number of indemnity versus medical-only claims for each administrator, providing valuable insights into projected total fees.

Unlock the value of VCORE for your organization

With VCORE, you gain a powerful tool to better understand and manage the key cost components of your workers' compensation program. By evaluating claims handling and medical cost outcomes, you can make informed decisions when selecting vendors to more effectively control your total cost of risk.

Choose Marsh and VCORE to optimize your workers' compensation program today. Contact us to learn more about how our team can assist you in achieving your risk management goals.

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