Workers’ Compensation Cost Savings Tips

Tips to save on Workers’ Compensation Costs

There are many ways to reduce costs on Workers’ Compensation Premiums.  Some ways may include: employee communications including Safety Meetings, Newsletters, posters or videos, maintaining a good relationship with your designated medical center, claims management, and a safety program. 

Providing communication to the employees regarding safety issues can help increase the employee’s safety awareness and decrease the amount of claims.  Preventing injuries before they happen is key in keeping a healthy workforce and to continue business to run smoothly. 

Reporting injuries in a timely manner can prevent liability to the company and additional costs that may be incurred.  The injured worker should be sent to the designated provider to be treated as soon as possible to prevent further injury and to have record of treatment close to the time of the injury. This will provide documentation if the injured worker will need additional treatment.  The accident should be investigated to make sure any potential injuries can be prevented in the future. 

Following up with claims and providing additional information to the insurance company or the medical provider can also help reduce additional costs that may be incurred.  It is important to return the injured worker to work when possible within restrictions.  Communication with the medical provider may reduce the number of medical visits needed to complete the medical treatment and close the claim. 

Implementing a Safety program will show support from upper management to provide a safe workplace. It is important to review the program regularly and make sure that rules are being followed by all employees within the organization.  Providing a safe working environment will increase your productivity and reduce the potential liability of increased costs.

For more information on Workers’ Compensation Claims Management, Safety Programs, or Workers’ Compensation coverage contact StaffScapes at 303-466-7864.