Turning Workers' Comp Costs Into Sources of New Revenue — Plug The Hole In Your Organizational Chart
Many of you receive the F.I.T. Newsletters on a regular basis. We enjoy writing them and appreciate that you read them and I look forward to continuing this free service. We have been on the cutting edge of workplace injury prevention for 17 years now and have experienced much with regards to workers' comp and its ongoing challenges. The ever-changing world of worker's' comp is in the midst of yet another change. The fact that workers' comp budgets continue to be bloated does not sit well with CFO's, especially during economic "low tides." The workers' comp evolution taking place is shifting in focus from being almost exclusively reactionary, that is: claims management, to now including a financially proactive approach of targeting the more upstream employee physical behaviors causing the claims in the first place. As researchers report from around the 50 states that the medical costs per claim are rising, CFO's have less money to spend on workers' comp and less financial tolerance to allow claims to happen willy-nilly.