Recent information from NCCI indicates that claim frequency continues to drop across all industries. This is great news but it comes with a sobering analysis of claim severity. Medical and indemnity severities continue to show significant increases.
For some reason, the image of Buzz Lightyear, pointing his finger skyward and shouting, “to infinity – and beyond!” comes to mind. For employers, this news is a call “to safety – and beyond!”
As we bring development of WorkCompEdge to a close and prepare to launch this new service, I am reassured by this recent news that our focus with WorkCompEdge is on target. WorkCompEdge provides resources to help you build a safety program – but that part of the puzzle is being accomplished effectively by most organizations. It is the safety culture, supervisor training, wellness push, designation and training of an injury coordinator, a medical clinic relationship, and finally a return-to-work program that is focused and purposeful that really matter. Most employers “get” safety – it is all these other areas where there is significant opportunity for improvement.
Severities are going to be dramatically impacted when companies start putting the implementation plans suggested here into action. We chose to focus less on safety and more on these other issues that do not receive the needed attention and I feel it was a good decision. The opportunity is in reducing severity and we know how to help you accomplish that!
As we like to say on the actuarial side of our business – “a correct analysis of the data leads to the right decision.” My analysis shows safety works in preventing accidents, but if you do have an injury there are at least a dozen things you have to get right. If you can master these other areas you will enjoy happy employees and massively reduced work comp costs!
In the months and years ahead I look forward to sharing WorkCompEdge success stories with you!
Filed under: Safety
