Instant savings on workers comp for healthcare agencies
Strategies for Instant Savings
To achieve immediate savings on workers' compensation, healthcare agencies can implement several effective strategies. Firstly, consider conducting a thorough audit of your current policy. Many agencies find they are overpaying due to outdated classifications or inaccuracies in payroll reporting. Correcting these can lead to substantial premium reductions.
Another approach is to invest in a robust workplace safety program. By reducing the frequency of workplace injuries through training and preventive measures, agencies can lower their experience modification rate (EMR), a key factor in determining premium costs1. Agencies with a strong safety record are often eligible for discounts and credits from insurers.