CompManagement, Inc. Selected to Improve Service and Save Money for the City of Baltimore.Business Editors COLUMBUS, Ohio--(BUSINESS WIRE)--Sept. 5, 2002 CompManagement, Inc., the employer cost containment-related services subsidiary of Security Capital Corporation (AMEX AMEX See: American Stock Exchange :SCC SCC - strongly connected component ), is pleased to announce that it has been selected by the City of Baltimore to administer its workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. program. With the cost of claims increasing rapidly each year, the City of Baltimore took steps to improve its workers' compensation program. After conducting extensive studies, city officials concluded that outsourcing the claims administration and medical services would be more cost effective than the current in-house program and city clinic. The multi-million dollar agreement with CompManagement and Mercy Medical Center is expected to save an estimated $18 million during the next five years. All parties agree, however, that a well-managed workers' compensation program goes beyond just dollars. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. city officials, CompManagement will save them money by establishing managed care practices and strengthening the city's safety programs to prevent injuries from occurring. The program will include "best in class" claim administrative services, disability management practices and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" designed to prevent accidents and return injured in·jure tr.v. in·jured, in·jur·ing, in·jures 1. To cause physical harm to; hurt. 2. To cause damage to; impair. 3. workers safely to the job. "Our programs are designed to assist public entities in reducing the increasing cost of their workers' compensation program while ensuring their employees receive fair, prompt and professional treatment by our service-oriented claims staff," said Bob Bossart, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CompManagement, Inc. CompManagement, Inc. is one of the nation's leading third party administrators, providing a complete array of Integrated Disability Management services with over 650 associates located throughout the country. Established in 1984, CompManagement is a full-service risk management and disability management organization that is endorsed by over 110 employer trade associations and provides superior service to over 53,000 employers across the nation. |
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