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Workers’ Compensation Premium Recovery Services

For over three decades, thousands of businesses nationwide have depended on CompWize and our flagship workers’ compensation audit and recovery services. Our highly specialized audit team uncovers inadvertent errors and mistakes by the carrier and certifies accurate workers’ compensation audit premiums. During our workers’ compensation audit analysis, the CompWize Audit Team focuses on incorrect employee classifications and/or inappropriate experience modification rates. Misclassifications and incorrect EMOD rates may lead to higher premiums and overall costs. In addition, our workers’ compensation audit streamlines the process of securing client refunds.

Workers’ Compensation Audit Program

CompWize specializes in analyzing workers’ compensation premium overpayments. We have found that human error often leads to incorrect classifications, erroneous modification factors, payroll audits, and other rating factors. Our consultants know where to focus and make the adjustments that result in lower premiums. CompWize has had successful results in many industries, including but not limited to:

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

PEO Workers’ Compensation Audit Program

Is your Professional Employer Organization (PEO) accurately pricing your benefits? CompWize will know. Our audits focus on errors or misstatements that lead to higher and erroneous billing. Our trained specialists find and correct these mistakes to reduce costs and expenses. These lower costs extend to ongoing savings in the future.

going over workers' compensation documents

Have You Had Any Workers’ Compensation Claims?

You may be surprised to learn that those claims may unnecessarily inflate your Experience Modification Factors (EMOD) through a common carrier practice known as Subrogation.

This occurs when your insurance carrier pays the expense for the injury of an employee, and oftentimes they recoup that cost through their “Subrogation” division. On each Workers’ Comp. claim, your carrier will perform a forensic investigation and identify a third party who had some impact on that particular claim. The Carrier “Subrogation” division then recoups some or all of the expense of that particular W.C. claim. It is your carrier’s responsibility to notify the Rating Bureau/NCCI when they’ve successfully recouped the expense so that claim is no longer having the same negative impact on your E-MOD. Our vast experience has found that many times – they neglect to do so! The CompWize team analyzes each and every Workers’ Comp. claim to correct these technical errors.

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.

Join Thousands of Businesses Like Yours That Have Recovered Their Workers’ Compensation Refunds With Us!

Subrogation Audit Program

Medical expenses are paid regardless of how an accident or injury occurs. Subrogation recovery focuses on health care payments reimbursements when a third party is at fault, or a workers’ compensation carrier should be paying the bills. For example, suppose you have paid medical benefits resulting from an injury caused by a third party. In that case, you may have the right to recover those expenses from the third party, their insurance company, or any other responsible party. CompWize provides highly-trained recovery consultants to evaluate each claim and file for reimbursement.

Hidden overcharges in workers’ compensation insurance are far more common than the insurance industry likes to admit and often get repeated year after year after year, in spite of competitive bidding by different insurers or agents.

EMODs are often overlooked because underwriters, auditors, and agents lack training in the rules governing EMOD calculation. And the rating bureaus that calculate EMODs tend to accept data at face value, reported by member insurance companies, without checking it for accuracy.

Workers’ Compensation Overcharges Can Happen to Anyone

Do not let insurance agents or underwriters tell you that being overcharged for workers’ compensation will not happen to your business or that competitive bidding or insurance regulation will prevent it. We have found and recovered hidden overcharges for almost every kind of business imaginable throughout the US.

Workers’ compensation overcharges are not uncommon because the rules governing workers’ compensation insurance premiums are complicated and arcane. Additionally, the insurance industry often lacks the motivation to catch and correct technical errors.

At CompWize, our team of workers’ compensation recovery experts is always here to help, providing peace of mind while saving you time and money.