An article written by W. Frederick Uehlein and David A. Jollin has recently been published in Public Risk Magazine, a publication of the Public Risk Management Association (PRIMA). The article, titled Leaving Money On The Table: Obstacles To Second Injury Fund Recovery explains that second injury funds are one of the more esoteric niches in the workers' compensation field, and because of that, claims staff are either not trained or don't understand what to look for. The article points out that even companies with an "active" recovery program can have 15-25% of uncollected second injury potential, which is between $19.5million and $32.5million. The article suggests that a factory-like process is necessary for maximum recovery, as well as a knowledge-management system that has many attributes of a law firm. This enables the recovery process to be standardized, which will eliminate error and support efficiency. For most organizations, a small amount of management effort could result in millions of extra dollars.
To learn more about this article or the other articles published by IRG, please click here.