The key to controlling your workers’ compensation costs is understanding your experience modification factor and its effect on your insurance premium. Workers’ compensation costs can make or break your bottom line. But control over these costs is more attainable than you may think if you understand your experience modification factor and its effect on your […]
Getting a handle on the rising costs of employee health and wellness programs is a perpetual battle for any business. For most organizations, though, the one area that is often the toughest to tame is workers’ compensation, the state mandated insurance programs that cover work-related illness or injury. Since the 1990’s the average cost of […]
In an odd bit of irony, OSHA (the Occupational Safety and Health Administration) has found that the healthcare industry has become one of the least healthy places to work. A study the agency released last year reports that the number of work-related injuries and illnesses among employees of U.S. hospitals is nearly twice the average […]
There are more workplace injuries in the Healthcare & Social Services sector than any other private industry including manufacturing. The result is rising Workers’ Compensation fees for those industries many of which are non-profits with limited budgets and reduced revenues due to the reduction in insurance reimbursements. The cost containment challenge is increased with the […]
All Manufacturing owners and managers understand that by reducing workplace injuries you will in effect reduce your Workers’ Compensation costs. Of course I’m over simplifying a bit – creating a safety culture in a dangerous environment isn’t easy. As a Risk Manager, I’ve worked with hundreds of manufacturing operations during my career. I’ve seen well […]
