WorkSafe People Trusted name in workers compensation for nearly a century AM Best A rating financially stable Strong agency partnerships Costsaving claims management Superior ID: 778314
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Slide1
Why Accident Fund?
2011
Slide2The
WorkSafe
People
Trusted name in workers compensation
for nearly a century.
A.M. Best “A” rating — financially stable.
Strong agency partnerships.
Cost-saving claims management.
Superior WorkSafe
consulting services. Local servicing teams.
Slide3Strength and Stability
Wholly owned subsidiary of Accident Fund Holdings, the 9
th
largest workers comp insurer in country.
Licensed to provide workers comp coverage
in 48 states and the District of Columbia.
Slide4Superior Agency Partnerships
All levels of the organization work closely with our agency partners.
Coordination of services (we work closely with your agent to ensure that your individual needs as a policyholder are met).
Slide5WorkSafe
Consulting Services
Partners in injury and claim prevention.
Loss control professionals with an average of 21 years’ experience.
On-site health and safety training.
Safety policy and procedure reviews.
Slide6WorkSafe
Consulting Services
Ergonomic and personal protection assessments and injury hazard analysis.
Assistance with state and federal regulatory compliance.
Loss history consultations and evaluation.
Slide7WorkSafe Toolbox
Free Online
S
afety
T
raining
70-plus safety training modules
Comprehensive administrator features
Slide8WorkSafe
Toolbox
Return-to-work
program
templates
Tip
sheets and downloadable
materials
Guide to building a safety program
for your
organization
Slide9WorkSafe
Toolbox
Video library
Safety videos available
to support employee training
Comprehensive written programs included
Video library discounted to $99
Slide10WorkSafe
Toolbox
Video library
Support materials included
(DVD training video, inspection checklists, “how-to” tutorials for ease of use)
Register at
www.accidentfund.com
Enter policy number and FEIN
to create account
Slide11Superior Claims
Handling
We are the
WorkSafe
experts
Convenient online claims reporting
Dedicated state examiners understand the state regulations specific to your claims
Dedicated catastrophic claims team
Average claims professional’s experience is 23 years
Slide12Strategic Claims Response
Care Analytics
Immediate identification of
experienced occupational provider
Claim Predictive Model
Early recognition of potential exposure
Claim Director
Early detection of potential fraud
Right resources
— right time
Slide132010
Claims
Savings
Medical bill review –
$204.4 million
Recoveries –
$5.7 million
Durable medical equipment – $2.2 million
Radiology Program – $1.34 million
Slide14Ongoing Claims Savings
Pharmaceutical Program
No-cost prescriptions through WorkSafe Care Pharmacy Program
Average annual savings of nearly
40%
on prescription drugs
Translates into $3.3 million in annual savings
Experiencing cost growth of only 1-2% versus the industry’s growth rate of 5-8%*
* Based on
NCCI
2008 prescription drug study.
Slide15Medical Bill Management
It is not a commodity for Accident Fund
Accident Fund
Typical Competitor
Billed Amount
$1.00
$1.00
Re-priced Amount Paid to Physician
$.41
$.51
Medical Bill Management Fee
$.02
$.04
Outcome: Net Payout by Customer
$.43
$.55
20% better than our competition
Slide16Our Workers Comp Networks
The net savings realized by Accident Fund
is one of the highest in the industry.
Accident Fund
Other Company
Medical Charges
$100,000
$100,000
Network Utilization
73%
65%
Network Dollars
$73,000$65,000
Network Discount14.6%
11.3%
Gross Savings
$10,658
$7,345
Cost of Savings
$1,500
$4,000
Net Medical Savings
$9,158
$3,345
$9,158
$3,345
Accident Fund
Other Company
Slide17Committed to Fighting Fraud
Special Investigation Unit staffed with former law enforcement professionals, who are experts at fraud investigation
Claims examiners detect fraud early in claims reporting process, preventing unnecessary expenses
Aggressive prosecution of cases
in conjunction with appropriate authorities
Slide18www.accidentfund.com
Thank You