2. AmCorp Management, Inc. has been highlighted by the following media outlets . Plus many more…
3. AmCorp Management, Inc. is the Nation’s most successful Expense Analysis Firm A Company with a singular focus. The American workers compensation system is flawed. There is a consistent lack of transparency, misalignment of incentives and an antiquated buying process that cost businesses billions of dollars every year. The current system needs to be challenged and questioned. AmCorp Analytics Workers’ Compensation Audit Division will recover revenue for your company that has been lost through miscalculations, improper premium adjustments and erroneous billing practices. Our auditing team’s sole practice is to identify and secure premium overcharges and return them to our clients.
4. Massive America Workers’ Comp Issues Google Results: Over 50,000 results for: Workers Compensation Overcharges . ( 0.14 seconds) Over 599,000 results for: Workers Compensation Premium mistakes . ( 0.14 seconds) Over 2,590,000 results for: Workers Compensation Audit Problems . ( 0.15 seconds) Employers lose billions of dollars a year through premium errors! There are problems, and we have answers!
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6. We Provide a Free Detailed Analysis Our Analysis is: A Comprehensive risk management tool to help you reconcile overpayments, forecast future years experience modifiers and identify additional savings opportunities, The Analysis will include: Premium reports and charts that reveal the long and short term costs of losses by State and Injured Worker, expected losses and lowest possible mod. In Addition: When we complete our audit we provide a “What If Report”. “ What-If" reports create cost saving models using “net” deductible alternatives and lowered claim cost results. No Refund, Credit or Savings there is no fee!
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Editor's Notes
Prospect: Would it be of value to know whether or not you are being overcharged for your workers’ comp premiums. Prospect: If you were being overcharged, would you like to recover any monies that are available to you?
Prospect: Here are a few of the media outlets that we have been highlighted on.
It is the “why” not the what or how. I would never be so presumptuous to assume the company person responsible for managing workers compensation costs is not doing a great job, but I am confident based on 25 years of experience that mistakes and overcharges occur daily. The individual handling a companies workers compensation understands what I’m talking about. AmCorp’s Examiners and Auditors have - 20+ years experience - helped over 20,000 clients - recovered almost 2 billion in savings We will not disrupt current relationships or with your agent and insurance company. Our process requires cooperation from all parties working in the best interest of your company, no different than any other professional Doctor, Attorney or CPA who you may ask for a second opinion.
Due to the high number of errors and mistakes on businesses workers compensation policy, a new niche industry has emerged, Am C orp Analytics the workers comp division.
Think about the number of people and companies involved that determine your ultimate work comp premium there is no universal process for accountability and improved outcomes. Start with… Business owner, payroll manager, CFO, H.R. Director or Controller who provides an estimation of payroll, prior claim experience, ownership percentages and a description of operations to the insurance agent Insurance agent markets your workers compensation program to Carriers based on information gathered or prior policies copied Insurance carrier underwriters-who determine pricing based on information gathered and presented by agent Insurance carrier or third party auditors- responsible for mid-term and annual audits, determining proper employee classifications, uninsured subcontractors and accuracy of projected payroll and a list too long to include here (not motivated to find errors or mention lower class codes) some third party auditors are incented for increased audit billing. NCCI or your state rating board- responsible for calculating experience rating based on data produced by carriers Walk-in clinics, hospitals, doctors, pharmacy’s, durable goods etc…- billing Insurance companies and businesses for services provided Managed care organizations and Third Party Administrators- charging for bill review, utilization review, nurse case management… Claim adjusters – responsible for managing claim cost, they do not manage claim cost! They move paper and attempt to manage good and bad decisions made by doctors, employers and injured workers.- most claim departments are overworked and understaffed Defense attorney’s– who are paid hourly, enough said? Are you 100% confident that these components are not affecting your cost? ONLY ONE COMPONENT CAN MAKE A HUGE DIFFERENCE ! This system is built with a misalignment of incentives and a lack of transparency - why would the cost of a broken arm paid by a workers compensation carrier cost 4 times more than the same injury paid by a health insurance company.
These are the basics, we’ll order directly from your current and prior carriers. We rarely encounter push back from Insurance companies or insurance agents almost all agree if there is a mistake resulting in overcharges it needs to be corrected and money returned. Rarely, do we find one error that will drop premiums in half, but we consistently find nickels, dimes and quarters in the different components that make up the annual premium. Information we look for… Experience mod worksheets- we use an 18 point checklist (examples- incomplete and incorrect data, clerical errors, missing 3 rd party subrogation credits, incorrect injury codes, wrap up construction project errors) Auditor worksheet- clerical errors, all credit deductions applied, wages assigned to proper classifications, construction wrap up deductions, subcontractors deducted, overtime deducted etc…- Classification Review- there’s over 600 classifications not including State Specific class codes, these mistakes are more common than most realize, so a 10 minute conversation to review job duties, product produced, machines used and/or a review of physical operations and corporate structure will validate this process. We will not misrepresent the nature of the work done by the client or workers to obtain refunds. Third Party recovery- this could be a State Second Injury Fund or a Third party subrogation- This happens much more frequently than most businesses are aware, Workers Compensation Carriers have subrogation departments or profit centers dedicated to this practice. Due to the time lag in recovery, rarely is employer credited or data re-filed. Policy and contract Review- Verify final premium calculation matches policy and contract. Verify all credits and discounts were applied, deductibles were applied correctly, financial security is not overstated, claims fund appropriate Loss History/ Claim reports- overstated reserve practices, clerical errors, denied claim or incorrect data that drive future premium cost. Missing data in the case of a merger or acquisition