The Role Injured Employees Must Play in Workers’ Comp Cost Containment
As employers, we tend to believe that the responsibility to do workers’ comp cost containment lies solely on our shoulders. While it is our obligation to design the program, there is another party that should take a share of this responsibility to make the program work effectively. According to the National Safety Council, the average cost for all […]
Workers’ Compensation The Need to Treat Depression After a Workplace Injury
When an accident happens in the workplace, the state’s workers’ compensation is almost always involved. This is a major part of its role in providing timely care to injured workers. The benefits the program delivers is intended to provide physical healing and relief from pain, but in most cases, it is not able to erase […]
Popular Methods of Treating Chronic Pain
Everyone has experienced pain. In fact, it is one of the most common reasons why people seek medical help. According to the Centers for Disease Control and Prevention (CDC), results of a 2019 survey conducted by the national Center for Health Statistics found that 20.4% of American adults suffered from chronic pain. Despite being common and […]
How Are Workers’ Compensation Benefits Paid?
Illnesses or accidents in the workplace are situations that employers try so hard to prevent, and it’s a nightmare experience when they do happen. The problem doesn’t end there, though. After the incident, employers then have to deal with the complex process of workers’ compensation, which could be overwhelming at times. When handling workers’ […]
Protect Your Business from Unnecessary Employee Treatment Costs with Medical Cost Containment
According to the Bureau of Labor Statistics, there were 2.8 million incidences of workplace injuries in 2019. The cost of these injuries according to the U.S. National Security Council is $171.00 billion. With that said, it would be safe to say that the enactment of workers’ compensation is a necessary strategy the government has devised to […]
Workers Compensation Cost Containment: 3 Effective Strategies To Reduce Your Workers’ Comp Costs
Large workers comp claims pose a massive risk for businesses, especially when the claims involve severe injuries and long term illnesses. Not only will you have to deal with the increase in medical costs, but you also have to worry about hiring and training replacement employees, readjusting work schedules, repairing or replacing damaged equipment/property, and […]
Are You Spending Too Much for Workers Compensation Healthcare?
Medical cost containment is crucial for employers and insurers in today’s Workers’ Compensation (WC) environment. Some estimate that medical payments account for as much as 60% of all annual WC expenditures. The good news is that thanks in part to companies that provide WC provider networks, the rate of increase of WC healthcare costs, both in real […]