In business insurance, workers’ compensation can be very costly. In addition to premiums, businesses may have to pay for additional medical treatments and extra wage replacements if claims go unresolved for long periods of time. After six months, it becomes more likely that the injured worker will never return to work.
We have collected several straightforward, easy-to-implement workers’ compensation cost control techniques that your business can use to help minimize costs and lost time due to workplace injury.
Appoint a Workers’ Compensation Manager
Designating a dedicated workers’ compensation case manager will help ensure that cases do not slip through the cracks. The manager would be responsible for submitting the proper documentation throughout the case, monitoring case progress, and liaising directly with the injured worker.
Enforce Detailed Reporting and Filing
Prompt and accurate reporting helps injured employees received medical attention faster, shortening their recovery time. It also reduces the possibility of fraud by keeping the details of the incident fresh in the minds of all parties involved. The workers’ compensation case manager can assist with enforcing reporting, but employees should also be aware that they are responsible for reporting their injuries in a timely manner.
Provide Information to Employees
While managers can monitor reporting and filing, each employee must be well informed about the company’s workers’ compensation policies.
Injury Reporting Procedures
Who should injuries be reported to? Within what time frame? These are important questions that need to be addressed. When employees know about these policies in advance, they will be less likely to feel overwhelmed or be afraid to ask what to do if an incident does occur.
List of In-Network Medical Providers
Utilizing in-network medical providers is essential to controlling workers’ compensation claim costs. Employees should be provided with a list of these preferred medical providers, which may have special occupational training designed to help them deal with workplace injuries.
Formalize Your Return to Work Program
Finally, helping injured workers return to work as soon as they are able will assist in cost control. This reduces lost work time and lost productivity caused by an employee on leave. If modified or light duty positions have already been considered, you can let physicians know the positions available to the injured employee, which will allow them to make well-informed decisions about when the employee can return to work.