After speaking directly to over 4000 lawyers in the last few months, I have analyzed the average lawyer’s understanding of the “Colossus Algorithms” and have come to understand that most lawyers do not know even what Colossus is.
This is very scary because it is the core of their business on one hand and on the other hand I am amazed at the level of execution the carriers have achieved in protecting their rapidly growing profit margin. Like it or not, you have to be awed with what the carriers have accomplished through information and technology. This also is a core reason why I am pushing so hard for you to use information and technology to grow your business through social media and SEO activities it works). My awe of the what the carriers have accomplished has nothing to do with screwing the inured and the doctors who care for them… My observation is purely from a business perspective… and if we do not learn from them, then we are the fools!
With that being said, how you communicate to lawyers is changing. Over the next week, I will be amending all of the consultations to reflect this significant change. In addition, this is also one of the reasons that my docs stay on top… This program constantly changes and if you do not follow the changes, you become extinct!
From here forward, we are going to refer to algorithms as the “Insurance settlement formulas, or as the carriers have coined it the Colossus formulas.” You need to have both parts in the explanation. For the naïve, you have to coin it as the “Insurance settlement formulas” and for the experienced lawyers, “Colossus.” You never know the knowledge level of the person you are speaking to, this way you have both ends of the spectrum covered.
MORE TO COME in the consultations over the next few weeks or so. This also will be taught extensively in the June 6-7 seminar in NY. Be there!
Mark Studin DC, FASBE(C), DAAPM, DAAMLP
Adjunct Assistant Professor of Chiropractic, University of Bridgeport, College of Chiropractic
Adjunct Professor, Division of Clinical Sciences, Texas Chiropractic College
Educational Presenter, Accreditation Council for Continuing Medical Education Joint Partnership with the State University of New York at Buffalo, School of Medicine and Biomedical Sciences
Academy of Chiropractic
US Chiropractic Directory