RIMS Benchmarking Survey Provides Work Comp Best Practices

For the first time ever, the 2009 RIMS Benchmark Survey discusses what companies are doing about the high cost of workers’ comp. This includes ten operational steps they have taken to manage their workers comp costs. The WC Survey compiles results from 1,127 companies. This provides a first step for many companies to compare what THEY are doing to reduce workers comp costs — have they implemented the 10 steps in the RIMS Survey. Workers Comp Kit has a comprehensive 87 question survey as well as a WC Quick Check. Approximately 60% of companies have moderate to severe gaps in their workers’ compensation programs. The purpose of the WC Suvery was four-fold: 1- provide the first-ever industry look at operational best practices for post-loss workers compensation cost control; 2-Familiarize companies with the concept of an industry-wide WC “score” for workers comp cost control activities; 3-Enable companies to compare their performance to others companies using a uniform measure in the ten most critical best practices; and, 4- Offer possible solutions to gaps that are identified. It’s great that the survey focused on SOLUTIONS, in addition to data! Kudos to RIMS. Author: Rebecca Shafer, J.D.

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