Run Time: 4:25
Triage Nurses Cut Costs in Workers’ Comp
What if a business could lower its workers’ compensation claims costs by as much as 30 percent by simply taking care of the injured worker at the onset of injury? That’s exactly what some businesses have done after using triage services provided by Company Nurse, an innovative firm offering the services of a 24/7 triage nurse hotline for injured workers. Unlike a nurse case manager, triage nurses enter the workers’ comp injury process at the front-end of a claim. This early intervention is delivering good results for businesses, the insurance industry and of course the employee, says Paul Binsfeld, founder and CEO of Company Nurse. After years of working in workers’ compensation, Binsfeld continued to see a lack of compassion for injured workers. He envisioned an environment that would take better care of the injured worker, while leading to better cost control outcomes. His plan is working. In just over four years, Company Nurse has grown more than 200 percent, and saves employers that use triages saves 15 percent to 30 percent on workers’ comp costs in the first year alone. Binsfeld, who recently spoke at the 2011 MarketScout Entrepreneurial Symposium in Dallas, Texas, says the idea to create Company Nurse was just the right thing to do. In this interview, he shares his view on the triage injury concept and how it’s making a difference for workers, employers and the workers’ comp industry.