MYTH #3: Workers’ Compensation Claims Improve With Age

Too frequently, I see adjusters treat complex claims like fine wine. They put the file in the back of their cellar (filing cabinet) and hope that, over time, it will become more palatable. They expect that the medical treatment will diminish, the demand will become more reasonable, and the situation will somehow improve to make resolution of the case easier. 

Working for an excess carrier we see nothing but complex claims. I can tell you with great certainty that these cases do not improve over time.

The longer a person is out of work, the greater the chance they will NEVER return to work. According to Bureau of Labor statistics, if an employee is off work for an occupational illness for more than one year, there is only a 25% chance they will return to work. If they are off work for two years, there is almost no chance of a successful return to work. 

In addition, medical costs ALWAYS increase over time. Over the last 10 years, medical inflation has been over 48%. Thus, even if the treatment regime stays consistent, your medical costs will go up. Unfortunately, the medical regime usually does not stay consistent. There are always new drugs available to treat a condition, or new treatment options being introduced. These new treatments and drugs usually cost significantly more than the established treatment and drugs they are replacing.

Since the situation will continue to worsen, the best time to try and settle the claim or take steps to mitigate the loss is NOW! The additional resources and funds you spend today in resolving complex claims can result in significant savings in the future when those claims are no longer sitting in the filing cabinet.

Original Source

Contact Neil O'Toole and John Sbarbaro

at the Law Office of O'Toole & Sbarbaro, P.C.

Phone: 303-595-4777

Located in the Denver Metro area.

226 West 12th Avenue Denver, Colorado 80204

Disclaimer 

Any content of this blog is intended for informational purposes only.It is not intended to solicit business, provide legal advice from The Law Office of O'Toole & Sbarbaro, P.C. and does not serve as a medium for an attorney-client relationship. Therefore, The Law Office of O'Toole & Sbarbaro, P.C. is not responsible for the information on this blog which may not apply to every reader. Always seek professional counsel if you have any legal matters. Contents within the blog of The Law Office of O'Toole & Sbarbaro, P.C., logos and other related media are protected by the copyright laws of the United States and other jurisdictions.

Privacy Policy