Use the Claim Budget Changes report to see what important changes have recently occurred that might prompt action in a portfolio of claims, including budget increases or decreases and the start of time loss payments.
The results include first time loss date and budget numbers from CAC (not adjusted for % Liability), with changes > $10,000 identified by the date they occurred in the category they occurred.
Changes >$25K and >$50K are further identified with yellow and gold highlighting respectively.
The % Reserved Used column text is highlighted bold and red when % Reserve Used goes over 85%.
The dates or the n/a in the Medical Cost and Indemnity Cost columns are similarly highlighted when % reserve for that category is over 85%.
Parameters:
Start Date and End Date (required) filter results to claims that have had a budget change within that time period.
Employer Program (required) selects the retro or TPA program to be included in the report and in the Employers parameter drop-down. The default is the first retro group found so, if your firm manages only one retro group, no selection is needed.
Employers (optional) allows you to narrow results to a specific employer account or group of employer accounts. If left showing None Selected, all active and inactive accounts (including internal, administrative accounts) will be included.
^Let me pick inactive employers^ checkbox determines whether inactive employers are included in the choices for selection in the Employers parameter. To see only active employers, leave the checkbox unchecked (the default selection) and Select All (or a subset of) employers from the Employers parameter.
Account Managers (optional) lets you select an account manager or group of account managers to focus on in the report.
Budget increases greater than parameter (required) lets you specify the $ amount that determines whether a budget increase will be included in the results. The Default is $10,000.
Reserve decreases greater than parameter (required) lets you specify the $ amount that determines whether a budget decrease will be included in the results. The default is $10,000.
Exclude Closed Claims (optional) allows you to filter out the closed claims from the report results.
Notes:
Claim Type uses the claim type value that is manually entered in each case/claim in the Basic Info section of the Claim sub-tab, Claim Info main tab.
L&I Type shows the L&I claim type reflected in retro reports.
Total Costs and Total Reserve show the latest totals as of the End Date.
Medical and Indemnity categories show the date of a budget increase or decrease.
Budget numbers are not adjusted for Liability %.
Time Loss Date is the date the first time loss cost was recorded in Gardiant Works after being found in the actual claim budget in CAC.