What is secondary injury fund in SAP FS-CM - Claims Management?

SAP Term: secondary injury fund

• Component: FS-CM

• Component Name: Claims Management

• Description: A fund, available in some US states, that helps pay worker's compensation benefits when a pre-existing injury combines with a subsequent injury to produce disability greater than that caused by the second injury alone.

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• Key Concepts: 
  Secondary Injury Fund is a component of the SAP FS-CM Claims Management module. It is used to manage and track payments for secondary injuries, such as those caused by medical negligence or other forms of malpractice. The fund is managed by a third-party administrator and is funded by contributions from the healthcare provider, the patient, and other sources. 
  
  How to use it: 
  The Secondary Injury Fund can be used to track payments for secondary injuries, such as those caused by medical negligence or other forms of malpractice. The fund is managed by a third-party administrator and is funded by contributions from the healthcare provider, the patient, and other sources. The fund can be used to pay for medical expenses, lost wages, and other costs associated with the injury. 
  
  Tips & Tricks: 
  When using the Secondary Injury Fund, it is important to keep accurate records of all payments made and received. This will help ensure that all parties involved are aware of their obligations and that all payments are properly accounted for. Additionally, it is important to ensure that all payments are made in a timely manner to avoid any delays in receiving compensation for the injury. 
  
  Related Information: 
  The Secondary Injury Fund is part of the larger SAP FS-CM Claims Management module. This module also includes features such as claims processing, claims tracking, and reporting capabilities. Additionally, this module can be integrated with other SAP modules such as SAP ERP or SAP HANA to provide a comprehensive view of claims data across multiple systems.