Workers Compensation Information for 29 Industries Gives Employers Free Industry Specific Cost Containment Help
Republished with permission from ReduceYourWorkersComp.com
Amaxx's Workers Comp Cost-Containment Resource Center for Employers now provides workers compensation insurance-related information twenty-nine industry groups.
The industries covered are: agriculture, amusement parks, banks, casinos, construction, commercial fishing, logging and sawmills, oil and gas exploration, longshore and harbor workers, industrial equipment manufacturers, telecommunications, food and beverage manufacturers, restaurants, professional services, schools, state and local governments, insurance companies, temporary staffing agencies, hospitals and nursing homes, entertainers, sports teams, printers and publishers, janitorial services, hotels and motels, transportation companies, retail chain stores, and horseracing. (WCxKit)
The new material includes sample transitional duty jobs for each industry. Transitional duty reduces unnecessary employee time out of work, cutting costs dramatically and is also called modified duty, alternate duty or light duty. Over 40% of workers compensation costs are related to indemnity payments (lost wages) paid when employees lose time from work so controlling these costs is paramount when developing a work comp cost-containment program.
Companies with effective transitional duty programs have lower experience modification factors. Companies with the highest return to work ratios – 95% of injured employees returning to work within one to four days - have the lowest mods, according to the 2010 RIMS Benchmark Survey. The new information in the Resource Center can be used to start a return to work program for your company. (WCxKit)
The Resource Center is located at http://www.LowerWC.com and focuses on helping employers get a grip on decreasing their workers compensation costs. It contains several free resources including the Work Comp IQ Test, Transitional Duty Cost Calculator and Work Comp Sales Calculator.
About Amaxx: Amaxx Risk Solutions publishes the website www.LowerWC.com an online publication which provides suggestions, articles and resources for managing workers compensation costs. Amaxx is the developer of The Workers Comp Kit®, a comprehensive workers comp cost-containment resource for employers sold by Advisen Ltd. The Workers Comp Kit is an easy-to-use assessment, benchmarking and improvement plan with all the tools to reduce your company's workers comp costs. The application is a best-in-business process that is based on 20 years of experience lowering workers compensation costs while improving overall program efficiency.
Disclaimer: WorkersCompensation.com publishes independently generated writings from a variety of workers' compensation industry stakeholders. The opinions expressed are solely those of the author and do not necessarily reflect those of WorkersCompensation.com.