5 Tips To Settle Workers Comp Cases Faster (Risk Management Magazine)

5 Tips To Settle Workers Comp Cases Faster

  Tuesday, February 7th, 2023 Source: Risk Management Magazine

When approaching a workers compensation settlement, efficiency and accuracy are critical. While it is important to get the settlement right, speed is key to curbing the potential long-term sprawl of expenses related to medical treatment, potential surgeries and indemnification for carriers and businesses.

For claimants, faster settlements provide the resources they need to find closure and start the next phase of their lives.

Unfortunately, a workers compensation settlement is historically seen as a lengthy, drawn-out and painful process. However, it does not have to be.

Settling a case with the correct mindset can be a swift, easy and beneficial process for both your business and the injured party.

Often, one of the biggest barriers to negotiating a workers compensation settlement is a simple difference of opinion. The parties might debate whether the settlement is worthwhile to the injured worker, for example. Generally, risk management teams should trust their gut when it comes to estimating these settlements.

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