Uncertainty thy name is healthcare. About the only thing we can count on with healthcare, particularly in an industrial situation, is continually increasing costs.
In addition to the personal impacts of a workplace injury to the employee, companies lose as much as $60 billion in decreased productivity each year. Lost time since 2006 has increased 13% and injury costs have increased about 14%. Only about 25% of the total costs of a workplace injury are covered by Workers’ Compensation, leaving the remainder for the employee, the company, and society to absorb.
Most companies focus on managing healthcare and workman’s comp costs, hoping to slow the cost increases. The most successful organizations take a proactive approach, seeking to prevent the root causes of health issues. One particular approach is to learn how to look at costs and cost drivers, especially multiple-year costs such as worker’s compensation.
What steps are you taking to help control and prevent safety and medical costs in your organization?
A good place to start might be additional training. The Auburn Technical Assistance Center will be hosting a seminar September 10 & 11, 2013 on Controlling Organizational Costs Through Safety & Medical Management. This class will present proven techniques for developing a safety culture that leads to cost decreases. Toyota has a history of reducing safety and medical costs while improving productivity, morale, and attendance. A retired Toyota executive will offer techniques you can use in your organization.
For registration in this valuable class, go to http://auburnworks.org/Course-Registration/#7.