• Menu
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

  • About
  • Contact
  • Privacy
 
Paradigm

Amaxx Workers Comp Blog

Reduce Workers Compensation Costs By 20-50%

Header Right

  • Home
    • Training Center
  • Search
    • Free Resources & Solutions
    • Subscribe to Free Newsletter
    • Create Free Training Center Account
    • Enroll in On-Demand Courses
    • Activate WC Mastery Membership
    • Request Strategic Coaching Session
    • Buy WC Guidebooks
  • Membership
    • Insider (free account)
    • WC Mastery
    • Teams & Managers Mastery
    • Training Partners
  • Products
    • On-Demand Courses
    • Specialty Courses
    • Certifications & Mastery Courses
    • Ultimate Guidebooks
    • Coaching
  • Blog
    • Video Blogs
    • COVID-19 / Coronavirus Pandemic
  • Login

Mobile Menu

  • Home
    • Training Center
  • Search
    • Free Resources & Solutions
    • Subscribe to Free Newsletter
    • Create Free Training Center Account
    • Enroll in On-Demand Courses
    • Activate WC Mastery Membership
    • Request Strategic Coaching Session
    • Buy WC Guidebooks
  • Membership
    • Insider (free account)
    • WC Mastery
    • Teams & Managers Mastery
    • Training Partners
  • Products
    • On-Demand Courses
    • Specialty Courses
    • Certifications & Mastery Courses
    • Ultimate Guidebooks
    • Coaching
  • Blog
    • Video Blogs
    • COVID-19 / Coronavirus Pandemic
  • Login
  • About
  • Contact
  • Privacy
You are here: Home / Post Injury Systems / Return to Work and Transitional Duty / 5 Workers Comp Cost Containment Techniques for 2013

5 Workers Comp Cost Containment Techniques for 2013

December 27, 2012 By //  by Michael B. Stack Leave a Comment

 

Throughout the year we have discussed several ways to try and cut costs and exposure.  There is no better time to implement these cost savings techniques than at the start of a new year.  People almost expect change when early January arrives, starting off with the often-failed New Year’s resolutions.  In case you didn’t heed to our advice throughout the year, here is yet another reminder of some ways you can make a difference in attempting to reduce your work comp costs:
 
1.    Healthy employees are less likely to get hurt
Employers are taking a vested interest in the overall health of their employees. Discounts on insurance can be applied for employees that undergo a yearly physical, which can provide early detection of a potential medical issue that may have gone unnoticed without the proper testing. Employers also implement wellness programs, exercise facilities, discounts for local gym memberships, good-natured weight loss competitions, and so on.  Anything can make a difference, so give it a shot.
 
2.    Review your loss runs to review for injury trends
Companies with several locations may overlook the fact that 60-70% of their claims may come from one of their larger locations.  The same could be said about a particular class of employees that are doing the same type of job are the ones mainly getting injured.  So review your loss runs and see if you can pick up on some injury trends, then implement ways to reduce exposure within that particular job class.
 
3.    Happy employees like working
There is a correlation between work comp injuries and work environments where there is a lot of labor-management tension.  If this can be diffused, you could see a decrease in claims.  Although risk is present at all times, it seems to be less prevalent in locations where the employees are satisfied, rewarded for good work, and locations that promote overall job safety as a whole. 
 
4.    Promote early claim reporting
Since you cannot avoid risk of injury all the time, at least try and promote early claim reporting.  The earlier a claim is sent to the carrier, the sooner they can get involved.  Oftentimes employees wait until the pain is unbearable before reporting a claim.  It is at this stage that conservative treatment is no longer effective, depending on the injury.  Early intervention can cut down on time away from work due to injury because conservative, non-invasive treatment will be successful.
 
5.    Establish a return to work program
One of the biggest ways to cut down on wage loss exposure is to keep employees working, even if they have medical restrictions.  The more flexible you are with accommodating work, the more employees know that even though they are injured they will still be reporting to work, and if they fail to report for light duty work then they should know that they will not be getting paid at all.
 
 
Summary
Feel free to take this list in to your peers and see what they have to say.  Even if you choose to only implement a few of the above listed items, it is better than implementing none of them.  Change will take time–this is not a process that can take place overnight.  But stick with it, track your progress, and see what can happen.  Chances are you will see some success at some point down the road.
 
 
 
Author Michael B. Stack, CPA, Director of Operations, Amaxx Risk Solutions, Inc. is an expert in employer communication systems and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. He is a writer, speaker, and website publisher.  www.reduceyourworkerscomp.com. 
Contact: mstack@reduceyourworkerscomp.com.
 
©2012 Amaxx Risk Solutions, Inc. All rights reserved under International Copyright Law.

Filed Under: Return to Work and Transitional Duty, WC 101 Tagged With: Reduce/Lower WC Costs, Reducing Workers Compensation Costs, Return to Work, Return to Work Programs, Return to Work-RTW, workers comp, Workers Compensation

Related Articles

Back to School Improves Your Return to Work Program

Back to School Improves Your Return to Work Program

How To Know When To Expect Your Employee Back To Work

How To Know When To Expect Your Employee Back To Work

Get Serious About Developing Your Return-To-Work Policy

Get Serious About Developing Your Return-To-Work Policy

Using Vocational Rehabilitation to Resolve Work Comp Cases: Dealing with Retraining

Using Vocational Rehabilitation to Resolve Work Comp Cases: Dealing with Retraining

Using Vocational Rehabilitation to Resolve Work Comp Cases: Managing the Voc Rehab Plan

Using Vocational Rehabilitation to Resolve Work Comp Cases: Managing the Voc Rehab Plan

Using Vocational Rehabilitation to Resolve Work Comp Cases: Eligibility For Services

Using Vocational Rehabilitation to Resolve Work Comp Cases: Eligibility For Services

Using Vocational Rehabilitation to Resolve Work Comp Cases: A Primer

Using Vocational Rehabilitation to Resolve Work Comp Cases: A Primer

6 Factors to Consider in Failed Return To Work

6 Factors to Consider in Failed Return To Work

Utilize Different Return To Work Approach For Different Employees

Utilize Different Return To Work Approach For Different Employees

Convince Your Employer Of Return To Work Benefits

Convince Your Employer Of Return To Work Benefits

Calculate Your Workers Compensation Premium

Calculate Your Workers Compensation Premium

Return-To-Work: Create a Win/Win in Your Work Comp Program

Return-To-Work: Create a Win/Win in Your Work Comp Program

Free Download

Step-by-Process to Master Workers' Comp in 90 Days - FREE Download Click Here Now!

Train to Succeed

BECOME CERTIFIED IN WORKERS’ COMPENSATION

Proven Course Catalog & WC Toolbox Give You The Power To Achieve Lower Costs and Better Injured Worker Outcomes

VISIT WORKERS' COMP TRAINING CENTER

Free Download

13 Research Studies to Prove Value of Return-to-Work Program & Gain Stakeholder Buy-In - FREE Download Click Here Now!

Train to Succeed

BECOME CERTIFIED IN WORKERS’ COMPENSATION

Proven Course Catalog & WC Toolbox Give You The Power To Achieve Lower Costs and Better Injured Worker Outcomes

VISIT WORKERS' COMP TRAINING CENTER

Previous Post: « Do Not Be So Quick To Diagnose Carpal Tunnel
Next Post: 5 More Workers Comp Cost Reduction Techniques »

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

FREE DOWNLOAD

Step-by-Process to Master Workers' Comp in 90 Days - FREE Download Click Here Now!

FREE DOWNLOAD

Step-by-Process to Master Workers' Comp in 90 Days - FREE Download Click Here Now!

Our Sponsors

ARCADIA - Enhancing Settlement Outcomes

The Structured Settlements Company
 

Catastrophic and Risk Solutions, Case Management Solutions, and Specialty Networks
 

Post-Settlement Administration
 

Medcor

Injury Triage, Onsite Clinics

Blog Categories

Search Our Archive

Subscribe to Our FREE Newsletter

Return-to-Work Essentials

Footer

Search Our Archive

Search our continually growing archive of over 2500 articles about Workers' Comp issues.

Quiclinks

  • Calculators
  • Terms & Abbreviations
  • Glossary of WC Premium Terms
  • WC Resources
  • Best Practices
  • Industries
  • Return-to-Work Essentials

RSS Recent Blog Posts

  • Claim Team Opportunities Through Innovation
  • Average Weekly Wage: Overcoming Obstacles
  • Average Weekly Wage: Getting it Right
SUBSCRIBE TO OUR FEE NEWSLETTER
Let Us Help You Stomp Down the High Cost of Workers' Comp!
Top of Page ↑
  • Home
  • Training Center
  • Search
  • Membership
  • Products
  • Blog
  • About
  • Contact
  • Subscribe
  • Login
Copyright © 2023 Amaxx, LLC. All Rights Reserved. · Privacy Policy / Legal Notice