Most Often Missing Component in WC Reform

Most People Aim for Nothing

“Most people will aim for nothing and hit it with amazing accuracy.”

Hello, my name is Michael Stack and I’m the CEO of AMAXX.

What’s Missing in Most Workers’ Comp Programs

Today, I want to talk about the thing that is most often missing in a workers’ compensation management program when you’re starting to look at improving it.

The thing that’s most often missing is your goal.

What is your goal in your workers’ compensation program?

What Vision Are You Trying to Accomplish?

What vision are you actually trying to accomplish?

So often, workers’ comp is reactionary. It’s like: “Cool, something happened. Cool. What do we do?”

What do we do? This, this, this, this. Litigation. Boom, boom, boom. All this kind of stuff is happening.

Bolts are flying. Bombs are going off all around us. And it’s just reaction all the time — all the time.

Reaction vs. Proactive Workers’ Comp Management

Rather than being proactive, taking the time to establish what it is that we’re actually trying to accomplish here in our workers’ comp program.

We want is consistency. We want confidence in our decisions.

We want an effective system where we’re in front of these injuries before they go off the rails.

Defining the Right Metrics

What does your cost per FTE look like?

What do you want that to be?

Is your goal focused on injury prevention?

Are you trying to get fewer claims and fewer incidents?

Safety, Hiring, and Prevention Goals

Is it a safety focus?

Is it better hiring best practices?

Post-offer employment testing?

Clear job descriptions?

Is it that side of the equation?

Cost, Claims, and Performance Goals

Or is it cost per claim?

Is it how you’re managing lag time?

Return-to-work rates?

Reducing litigation rates?

Reducing large-loss claims?

What is your goal?

Or maybe it’s a combination of multiple goals.

Start With the Goal

The thing that is most often missing in your workers’ compensation program is clarity around what you’re trying to accomplish.

Start with that.

Everything else starts to line up around it.

Final Thought

Again, my name is Michael Stack, CEO of AMAXX.

Remember: your work today in workers’ compensation can have a dramatic impact on your company’s bottom line — but it will have a dramatic impact on someone’s life.

So be great.
Michael Stack, CEO of Amaxx LLC, is an expert in workers’ compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers’ compensation costs by 20% to 50%. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center. WC Mastery Training teaching injury management best practices such as return to work, communication, claims best practices, medical management, and working with vendors. IMR software simplifies the implementation of these best practices for employers and ties results to a Critical Metrics Dashboard.

Contact: mstack@reduceyourworkerscomp.com.

Workers’ Comp Roundup Blog: http://blog.reduceyourworkerscomp.com/

Injury Management Results (IMR) Software: https://imrsoftware.com/

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