December 20, 2004
Article Published in The Journal of Workers Compensation
An article by Fred Uehlein and David Jollin is appearing in the Winter 2005 edition of The Journal of Workers Compensation published by Standard Publishing. The article is entitled Closing the Recovery Gap and it deals with maximizing opportunities to reduce total workers compensation costs through third-party recoveries. It points out that although most in the industry would define recovery as recouping cash, recovery actually comes in many forms. A broader definition would be the right to apply a statute to recover money or to reduce committed reserves. This expanded definition of recovery includes the reduction of reserves by the assertion of rights against another party, rather than merely through the recovery of actual cash. The article discusses how the expanded definition should spur the use of new and more effective recovery processes that will allow employers and insurers to increase recovery dollars without over-committing valuable management time or cash flow.