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Ten Ways to Reduce
your Workers' Compensation costs |
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Enact a return
to work program appropriate
for the employee’s limited work abilities.
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Conduct
pre-employment, post accident and random drug testing.
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Implement a
robust safety program that
starts with initial new hire training, is followed up on
a regular basis, and places the burden of accountability
on the line managers. These programs are not very
effective unless senior management emphasizes the
strategic importance of these programs to the
organization as a whole.
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Verify the
accuracy of the mod computation
– mistakes are more common than you think!
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Report and manage
claims promptly.
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Consider carrying a
large deductible and pay smaller claims. This will
vary by state depending on whether you are in a gross or
net reporting state.
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Review claims with
your claims handling administrator on a regular basis
for a certain claim threshold (i.e. claims greater
than $10,000).
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Be aware of tasks that
seem to repeatedly cause injuries and change the nature
of these tasks. If possible, rotate employees
through jobs presenting the greatest risk of repetitive
motion injuries.
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Understand the true
cost of your firm's losses. This can be accomplished
through analyses such as those provided with our
ModMaster program.
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Implement a company
wide rewards program for reduced claim frequency.
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