Task an Existing Employee
You can assign an existing employee to promote your practice within the Workers' Compensation industry. However, the ecosystem has changed significantly after COVID-19. With 80% of adjusters and risk managers working from home and offices restricting in-person visits, establishing strong relationships is crucial. Without these relationships, getting in front of key decision-makers is nearly impossible.
Hire, Train, and Manage a New Employee
Alternatively, you can hire, train, and manage a new employee dedicated to cultivating workers' compensation referrals. Without pre-existing relationships, this can be challenging, especially with post-COVID changes making face-to-face meetings with adjusters and employers nearly impossible.
Outsource to Specialists
A more effective approach is to outsource your marketing to a company with over two decades of experience and established relationships in helping physicians grow their practices. OM can assist without the burden of recruiting, training, and managing new employees. This also eliminates payroll taxes, benefits costs, and other related expenses.
OM has the expertise and resources to connect doctors with key decision-makers in the Workers' Compensation field, including claims adjusters, case managers, risk managers, TPAs, and self-insured entities. Building and maintaining these relationships independently can be difficult, especially with high turnover rates in insurance companies, sometimes reaching 40% annually. This turnover makes it challenging to manage your practice while nurturing these vital connections.
When you hire OM, we handle all the marketing and training needed to build a solid foundation for your practice. Our experts simplify the complexities of the Workers' Compensation system, making it easier for you to focus on patient care.
Additional Strategies for Growing Workers' Compensation Revenues
Establish a Baseline: Start by determining your current Workers' Compensation revenues as a percentage of your total practice earnings. This will provide a reference point for measuring future growth.
Analyze Past Revenues: Review your Workers' Compensation revenues for the past three years, categorizing them by insurer, TPA, or provider. This analysis can highlight trends or issues with specific carriers.
Evaluate Procedures and Forms: Assess your office's procedures and forms. Seek honest feedback from providers and case managers about the responsiveness, timeliness, and completeness of your Workers' Compensation paperwork.
OM is here to help you with all of the above and more. We can assist you in achieving WorkCompReady™ certification. Hundreds of doctors and their staff have obtained this certification, positioning them as top providers for employers seeking qualified physicians. OM's WorkCompReady™ Certification is recognized as the gold standard in workers' compensation training.
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