Pulling the Plug on Four Unnecessary WC Costs

Pulling the Plug on Four Unnecessary WC Costs

Asheville, NC (CompNewsNetwork) - According to the National Safety Council’s 2010 edition of "Injury Facts," preliminary data showed the number of disabling unintentional injuries reached 3.2 million in 2008, translating into 110 million lost workdays (70 million from injuries) and an estimated total cost of  $183 billion. Wage and productivity losses accounted for $88.4 billion, medical costs represented $83.3 billion and administrative expenses were estimated at $37.7 billion. These staggering numbers are even more alarming in light of the 2009 RIMS Benchmark Survey finding that approximately 60% of companies have deficiencies in Workers’ Compensation claims management. Employers are leaving mega dollars on the table …read more