A Smarter Way To Handle Workers' Comp

Cut Costs Without Cutting Care

In today's competitive business environment, managing operational costs is crucial for maintaining profitability. One significant expense for many companies is workers' compensation premiums, which have risen over 11% in 2022, reaching $42.5 billion, driven by wage hikes and rising medical costs. However, businesses can take proactive steps to mitigate these costs. One effective strategy is partnering with healthcare providers like Sterling Urgent Care to handle workers' compensation claims in-house, leading to faster employee recovery and reduced premiums.

The Financial Impact of Workers' Compensation Claims

Workplace injuries and illnesses cost employers nearly $1 billion per week, encompassing direct expenses such as workers' compensation payments, medical bills, and legal services. Indirect costs include hiring and training replacement employees, lost productivity, and accident investigations. These expenses can significantly impact a company's bottom line, especially if claims are not managed efficiently.

Benefits of In-House Claims Management

Managing workers' compensation claims in-house offers several advantages:

• Seamless Collaboration: An in-house team fosters better communication among surety experts, leading to a more collaborative claims process and potentially faster resolution of issues
• Improved Outcomes: Direct oversight of claims allows for tailored treatment plans, which can result in better recovery outcomes for employees and reduced claim costs.
• Cost Control: With in-house management, employers have greater control over medical expenses and indemnity costs, helping to keep premiums in check.

Sterling Urgent Care's Approach

Sterling Urgent Care offers a comprehensive solution for employers aiming to reduce workers' compensation premiums:

• Membership Model: For just $60 a month, Sterling provides high-quality care covering 96% of medical claims. This model allows employers to handle many workers' comp cases under the membership, reducing premium hikes.
• Occupational Medicine Services: Sterling's services are designed to keep workforces healthy and productive, offering comprehensive care, simplified reporting, extended hours, and drug testing.
• Case Management: Their streamlined claims process focuses on cost control, improved recovery outcomes, compliance, and employee support, ensuring that injured workers receive the necessary care promptly and return to work safely.
• Virtual Care: Sterling Urgent Care’s Virtual Care solutions provide employees with instant access to healthcare from home, work, or an on-site virtual clinic—reducing downtime, cutting healthcare costs, and ensuring faster treatment without the need for in-person visits.

Real-World Success

Businesses partnering with Sterling Urgent Care have experienced tangible benefits. For instance, Lower Foods Outlet reported that Sterling's services have been a tremendous benefit to their business, keeping employees healthy and reducing downtime.

Check out how much Lower Foods saved last year using Sterling as a healthcare partner

Conclusion

Effectively managing workers' compensation claims is essential for controlling rising premiums and maintaining a healthy workforce. By partnering with providers like Sterling Urgent Care, businesses can implement in-house claims management strategies that lead to faster employee recovery, reduced costs, and a more productive work environment.

For more information on how Sterling Urgent Care can assist your business in managing workers' compensation claims and reducing premiums, visit their Employer Services page.