Study: Most Lost Time Claims Can be Avoided
According to a ManagedComp survey, fewer than 10% of work-related injuries should require employees to take more than three days off work for medical reasons. Yet, nationally 24% of workplace injuries result in lost time greater than three days.
While many employers have made significant progress in reducing the number of job-related injuries, the cost of claims continues to rise. According to the National Council on Compensation Insurance (NCCI), from 1990 to 2004, the total cost of work related injuries more than doubled, outstripping the gains made by the reduced number of injuries.
It is estimated that 60% – 80% of lost claims can be avoided. The key is a clear and definitive process to manage injuries.