Controlling your destiny
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Controlling your Destiny. Michael Barrett Director of Risk Management Ruby Tuesday Inc. Step out of the cookie mold…. In 2004, RTI began to question the idea of self administration on guest (liability) claims We realized that we needed to mirror a TPA but have a softer, kinder approach

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Controlling your Destiny

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Controlling your destiny

Controlling your Destiny

Michael Barrett

Director of Risk Management

Ruby Tuesday Inc.


Step out of the cookie mold

Step out of the cookie mold….

  • In 2004, RTI began to question the idea of self administration on guest (liability) claims

  • We realized that we needed to mirror a TPA but have a softer, kinder approach

  • No one cares about our team members or our guests like we do. So, let’s prove it.

  • Sounds great, but how in the heck to we convince company leadership to make the jump?


Dollars and sense

Dollars and Sense

  • RTI developed a staffing model similar to a TPA with a few twists…

  • Every component of the staffing model HAD to reduce costs (Return to work, safety, admin fees, etc.)

  • Selling points to executive team = Control our claims, control our data, drive down costs, keep people happy

  • RMIS = Own it, love it, and make it your own WMD

  • Insurer approval is mandatory (you can shop ,too)

  • January 2005, we got our wish. Ok, now what?

  • Find people who embody your vision

  • Staff went from 2 to 10


Timeline

Timeline

  • May 2005, we took our first claim in house. Created light duty program!

  • 2007, began paying workers compensation claims in house

  • 2008, took entire liability retention in house

  • 2008, added a feature to RMIS where restaurant managers can report directly into the claim system from restaurant office

  • Changed culture from being a department which allocates charges to a department which saves the company millions of dollars

  • All achievements come back to desired goal = Save $$

  • Better relationship with field as we have returned $$ to the restaurant’s bottom line = higher bonus

  • Now act as Consultants rather than dictators


Risk is a profit center waiting to get out

Risk is a Profit Center Waiting to Get Out…

  • None of the proposed goals mean a thing if you don’t back them up with results. So, how did we do….

  • Since 2005:

    • WC and GL premiums are down 47%

    • TPA fees vs in house staff are favorable by $120K per year

    • WC pure loss rate down 44%, GL down 39%

    • Significant reduction in collateral from Primary somewhat offset by self insurance bonds

    • 42% reduction in WC claims

    • 2005 Lost Time = 19%, 2010 = 9%

  • Annual impact to RTI: $2.7MM


Lessons learned

Lessons Learned

  • Don’t be afraid to jump, especially if you know where you are going to land

  • Track your team’s success (and then tell everyone about it)

  • Everything discussed here today comes down to the same essential theme = relationships

  • Give a lot before you expect to receive

  • Bring ice cream instead of a hammer

  • Take all the blame and none of the success

  • Don’t confuse habits with wisdom

  • Measure the splash….

  • Use the current economy to your advantage


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