For Workers' Compensation
CompClaims tracks and pays workers’ compensation claims. It is used by third party administrators, corporations, associations, government entities, multiple employer trusts, and insurance companies to process partially insured or fully insured workers’ compensation claims. Its sophisticated design offers the fastest, most comprehensive, and most user-friendly workers’ compensation claims administration system available today.A Comprehensive Claims Management Solution
CompClaims was developed with the understanding that every Client has their own unique needs and requirements. WLT’s system offers not only the versatility to meet the different needs of each Client, but the adaptability to meet the changes and trends in the occupational accident and workers’ compensation benefits industry as well. Features of the CompClaims system include:
- Notice of Injury / Illness Claims Management
- Medical payment processing
- Lost time indemnity processing
- Customer service contact management
- An extensive library of standard and custom reports
- Fund year management, billing, and reporting
- Fund accounting
- Litigation tracking
- HIPAA-compliant EDI 5010 and legacy 4010 transactions
- Easily configurable system security
The core system offers flexibility with processing functions to facilitate the administration of fully insured and self-funded workers’ compensation plans.Advanced System Technology
No plan can work efficiently without support from adequate information systems. WLT makes a point of always working with the best, providing you with the most sophisticated and flexible system available today.
CompClaims is a native Windows® application which is user-friendly and easy to use. For the database, we have partnered with Oracle® who has one of the most powerful databases available today.
CompClaims’ user-friendly interface and EDI functions, in conjunction with our adjudication engine, allow payments to be processed quickly and accurately in real-time.
Processing capabilities encompass a range of payment functions from standard medical, indemnity, and expense, to custom payment options and occupational accident. Our state-of-the-art EDI functions allow users to attain real-time auto-adjudication rates as high as 90%. Lost Time\ Indemnity payments can be handled effortlessly on the system by pre-defining recurring payment schedules.
The system will track payments by fund year and accumulate charges towards specific and aggregate reinsurance contracts according to the fund year in which the claim was incurred.
From the first report of injury to the final payment of compensation, WLT’s CompClaims system simplifies the duties of the benefit administrator. You will be able to manage workers’ compensation incidents and track the losses associated with those claims.
CompClaims includes a full-featured letter writer, call and litigation tracking, trust and fund accounting, and 1099 generation. In addition, a scheduled Diary Review process for managing your claims helps with work flow and resource management.
In addition to standard claim and transaction reports, many push-button reports are available for other types of reporting needs, including frequency and severity reporting and incurred but not reported claims to help you manage your risk. Reports can be generated in a number of formats, and can be easily emailed without the time and expense of producing a paper report.