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4 Steps Toward Building a Workers’ Compensation Strategy for Your Medical Practice

Over the years, many of the practices that we work with have asked us to help them grow their workers’ compensation business. If done properly, workers’ comp. can be a profitable avenue for growth. However, many do not realize the complexity in developing this business. Navigating through the sea of risk managers, case administrators, case managers, nurse case managers and then the different layers of insurance, can be difficult and downright confusing. If your practice is going to tackle this feat independently, we recommend beginning with these four areas:

1. Know your contracts. In order to know your contracts, you need to make sure you actually have contracts to know. Just because you get patients with certain W.C. insurances, does not mean you are contracted with them. In addition, you may have a contract with a subsidiary insurance but not the parent insurance. Being contracted with the insurance company not opens you up to getting more referrals, but it also allows you to get in front of the case managers. Once your workers’ compensation contracts are established, you should review them annually.

2. Begin networking. In order to properly network, you need to know how the game is played and who the players are. With workers’ compensation, the players are as follows: risk managers, team leaders, case administrators, case managers and nurse case managers. In regards to the how-to, keep in mind that networking is a marathon, not a sprint. One event or one phone call will not make a difference. It’s the continuous interaction and relationship building over time that will create a thriving referral base. Different networking opportunities can include:

  • Going onsite to the case managers and conducting a talk for CEUs
  • Offering an offsite educational event for CEUs
  • Joining local case managers associations and participating in speaking opportunities
  • Building your database. Keep track of the relationships that you currently have and the ones you’d like to have. Utilize your contacts and always ask how you can continue to improve your services. Use this feedback to make tangible changes to your service delivery and process of communication.

3. Develop a process. Case managers are extremely busy, so it is essential that you make communication and documentation easy, seamless and flawless. We always recommend having a dedicated person and phone line just for workers’ compensation. To help refine your process, ask the case managers what you can do to make their lives easier.

4. Measure. Just like any business strategy, measurements need to be put in place to determine effectiveness. As you continue networking and building a workers’ compensation strategy, create benchmarks for how many new workers’ compensation patients that you’d like to see each month.

Building a workers’ compensation business can generate a healthy line of patient referrals, but it takes time and requires a strong understanding of the environment. If you are considering growing in this area, you may benefit from the Points Group workers’ comp. audit and strategy building program. For more information, contact us at 973-998-8008.

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