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Workers’ Compensation Premium Recovery Services

For more than four decades, employers nationwide have relied on SMP Consulting Group’s Workers’ Compensation Audit and Recovery Services to identify and correct premium overcharges. Our approach combines deep industry expertise with a disciplined audit methodology designed to uncover errors that can significantly impact Workers’ Compensation costs.

SMP Consulting Group’s Workers’ Compensation audits are powered by CompWize®, our proprietary analysis software and algorithm developed to evaluate payroll data, employee classifications, Experience Modification Rates (MODs), and carrier audit calculations. By pairing advanced analytics with experienced auditors and attorneys, we are able to identify inaccuracies that traditional reviews often overlook.

Workers’ Compensation Audit Program

Through trained and licensed specialists, CompWize analyzes Workers’ Compensation premium overpayments resulting from misclassified employees, incorrect experience modification factors, payroll audit discrepancies, and other rating inaccuracies. These issues frequently stem from human error and are often carried forward from one policy year to the next without correction.

CompWize® enhances our audit process by systematically analyzing payroll classifications, job functions, historical MOD calculations, and carrier data to surface potential inconsistencies and overcharges. Our consultants then apply regulatory expertise and industry knowledge to properly challenge incorrect determinations in accordance with state regulations and rating bureau guidelines.

SMP / CompWize have delivered successful outcomes across a broad range of industries, including education, non-profits, healthcare, manufacturing, construction, wholesale and distribution, and trucking. We typically work with employers carrying annual Workers’ Compensation premiums in excess of $25,000, with premium reductions that often extend into multiple future policy years.

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  • Not-for-Profit
  • Healthcare
  • Hospitality
  • Manufacturing
  • Retail
  • Construction
  • Wholesale & Distribution
  • And more!

PEO Audit Program

Are you confident your Professional Employer Organization (PEO) is accurately pricing your Workers’ Compensation coverage and related benefits? CompWize conducts independent PEO audits designed to identify billing errors, misstatements, and improper allocations that can lead to excessive costs.

Our trained specialists analyze Workers’ Compensation pricing, payroll treatment, experience factors, and related charges within the PEO structure. When errors are identified, we work to correct them, helping reduce both current expenses and long-term future costs.

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Have You Had Any Workers’ Compensation Claims?

Through our comprehensive audit analysis, the CompWize Audit Team examines employee classifications, experience modification factors (EMOD), payroll allocations, and other critical rating components. Misclassifications and inaccurate EMOD calculations can significantly inflate premiums and increase overall operating costs.

Another common practice relates to claim reserves. The carrier must set aside a reserve if your employee has an injury. They often over-reserve or leave reserves open after settling the claim. This everyday carrier practice inflates your EMOD, potentially impacting it for years. This is why CompWize analyzes and reviews every claim reserve for accuracy. Additional items we review include errors in classification and errors in payroll audits.

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Subrogation Audit Program

Medical expenses are often paid without regard to fault at the time of injury. Subrogation recovery focuses on identifying situations where medical payments should have been covered by a Workers’ Compensation carrier or reimbursed by a responsible third party.

SMP / CompWize provides highly trained recovery consultants who evaluate claims, identify recovery opportunities, and pursue reimbursement when a third party or Workers’ Compensation carrier should have assumed responsibility. Recoveries may be obtained from the at-fault party, their insurance company, or another responsible entity, in accordance with applicable laws and regulations.

Why Errors Persist in Workers’ Compensation Insurance

Hidden overcharges in Workers’ Compensation insurance are far more common than many employers realize and are frequently repeated year after year, even when insurance carriers or agents change.

Experience Modification Factor errors are often overlooked due to the complexity of the calculation process. Underwriters, auditors, and agents may lack detailed training in the rules governing experience mod calculations, while rating bureaus often rely on data submitted by insurance carriers without independently verifying its accuracy. Our expertise and analytical approach are designed to identify and correct these issues before they continue to inflate premiums.

Workers’ Compensation Overcharges Can Happen to Anyone

CompWize streamlines the entire recovery process, from identifying discrepancies to securing premium refunds – delivering measurable financial results while minimizing disruption to your organization.

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