Effective cost management of workers' compensation claims starts at the time of the injury. Otherwise, studies confirm that the longer it takes to report a claim, the higher the cost.
“What happens in the first 24 hours post-injury is critical,” said Michael Bell, executive vice president for U.S. business development with Gallagher Bassett. Industry experts agree that successful management of these expenses must be comprehensive from start to finish, from the time of the injury through recovery and eventual return to work.
Bell estimates that 30% of all injured workers require medical guidance instead of medical care. This means that 30% can be resolved with self-treatment and that a claim doesn't have to be filed. It eliminates a costly visit to the emergency room, where expenses can quickly climb to $1,000 or more.
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