Workers’ Compensation Cost Leakage Assessment

Excess costs and process inefficiencies in your workers’ compensation program can have a significant impact on your finances. At Marsh, we understand the challenges you face and offer a solution to help you take control of your costs. Our Workers’ Compensation Cost Leakage Assessment provides valuable insights into your program, with the goal of enabling you to reduce costs and improve outcomes.

Understanding cost drivers

Our experienced consultants have developed a leakage audit that helps organizations gain a deeper understanding of the root causes impacting their program costs. By utilizing our proprietary assessment platform, which incorporates national benchmarks and the Official Disability Guidelines (ODG), we can help you identify the key cost drivers in your workers’ compensation program across compensability, medical costs, disability duration, and claim management.

The cost leakage assessment process

Our team works closely with you to gather relevant program information, including claim roles, policies, and procedures. We thoroughly review this documentation to gain a comprehensive understanding of your current program. To further our understanding, we also conduct interviews with key stakeholders within your organization and your third-party administrator (TPA).

In our next step, we perform an audit based on a statistically valid sample of closed indemnity claims from the past two to three years. This allows us to estimate lost economic opportunities, or leakage, and correlate this data to the identified cost drivers. Our consultants then provide you with a detailed report highlighting cost leakage in each of the four categories, along with trends and process inefficiencies contributing to excess costs.

What you get from Marsh’s Workers’ Compensation Cost Leakage Assessment

We identify the cost drivers that could contribute to increased costs and provide an in-depth analysis of potential lost economic opportunities, offering valuable insight into your program practices. Additionally, our report includes targeted recommendations for cost reduction and process improvement, providing actionable steps with the goal of achieving better cost outcomes.

Take control of your workers’ compensation costs today. Contact Marsh to schedule your Workers’ Compensation Cost Leakage Assessment today.

Workers’ Compensation Cost Leakage Assessment

Understanding cost drivers

The cost leakage assessment process

What you get from Marsh’s Workers’ Compensation Cost Leakage Assessment

Our expertise

Related services

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Workers’ Compensation Cost Leakage Assessment

Understanding cost drivers

The cost leakage assessment process

What you get from Marsh’s Workers’ Compensation Cost Leakage Assessment

Our expertise

Related services

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