Many people are entirely clueless about workers' compensation and how to understand it. In a recent article posted by Revco Solutions, readers can better understand how workers' compensation and complex insurance claims are provided and how businesses are responding to the challenges of both types of claims is explored. Read the full article here. So what is workers' compensation? According to Revco Solutions, workers' compensation is also known simply as “workers’ comp,” a federally mandated program that protects and provides benefits for workers who are injured or become disabled while working at their jobs or because of their employment. An essential piece of information that Revoco Solutions provides about workers' comp is while the federal government mandates it, the oversight and management of workers’ compensation is the responsibility of individual states. Complex insurance claims can be challenging to understand. These claims are different from typical insurance claims because they are affected by factors beyond the initial workplace injury or circumstances that triggered the insurance coverage. Some factors include: - Patient’s psychosocial factors include depression, anxiety, and a lack of housing, social, or economic support. - Patient’s history of opioid use. - The patient is noncompliant or resistant to treatment or claim resolution. - The patient suffers catastrophic or permanent injuries, such as paralysis. - The patient sustains multiple injuries. Complex claims result in longer processing times, higher medical costs, increased patient safety concerns and taking longer to resolve. So how exactly do businesses respond? According to Revco Solutions, there is no one solution; however, Revco offers a few tools to help: - Purchasing supplemental insurance coverage such as short or long-term disability. - Hiring or contracting with a risk management company to oversee the management of workers’ compensation claims. - Utilizing technology such as risk management software or wearable technology. - Embracing a patient-centered multidisciplinary approach by encouraging the patient to lead the treatment and coordinating with all providers. To learn more about workers' compensation and more, visit Revco Solutions today!