When a company experiences significant increases in workers’ compensation costs, it usually triggers internal activities aimed at reducing insurance costs and spending.
Not only is workers’ compensation coverage required in most states, but it also plays a major role in connecting injured employees to the care they need to return to work as quickly and safely as possible. That’s why it’s crucial for your organization to develop an effective workers’ compensation program.
Workplace accidents are unfortunate events that can disrupt both your physical and financial well-being. In the event of a work-related accident, our return to work program will help you transition back into a productive role as you recover from your injury.
Workplace injuries can and do continue to hurt the bottom line for employers. A well-rounded return-to-work (RTW) program can help employers better control the impact and costs of workers being away from the job, while helping employees quickly recover both physically and financially from an injury. The goal is to enable injured employees to be productive during their recuperation and to maintain a connection to the workplace. A RTW program offers advantages to both the business and its workers.
Understanding the total financial impact of on-the-job injuries requires employers to look beyond the initial cost of each claim. In the insurance industry, these hidden claims dollars are referred to as the “iceberg effect,” and a recent OSHA study has shown these costs can be very substantial. These indirect costs include everything from setting up a claim, doing associated paperwork, losing productivity, training temporary employees, and much more.