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Workers' Comp Kit® for Small & Medium Size Businesses (100 or more workers)
Workers' Comp Kit® is a web-based system that streamlines the workers' compensation cost reduction process and gives companies the tools to improve.
Virtually any type and size company can benefit from the assessment and cost control tools available with the Workers' Comp Kit®, from the 10 employee auto body shop to the construction company with 120 to large pharmaceutical manufacturers with 1000 employees or more.
Small businesses, especially, are vulnerable to the crippling expenses a large workers' compensation claim can incur. One $10,000 claim could require $100,000 or more in additional revenue to cover the cost, a large percentage of most small businesses total.
See for yourself. Use our Workers' Comp cost calculator to see how much your company can save by bringing employees back to work sooner.
Why Use Workers' Comp Kit®: Scalable Cost Control
The average Workers' Compensation cost per Full Time Employee (FTE) is $919 for companies with less than one billion dollars in revenue, according to the 2009 RIMS Benchmark Survey. With the tools provided by the Workers' Comp Kit:
- A good best-in-class target goal for small companies is $250 per FTE
- Return-to-work (RTW) Ratio Goal: 95% returned to work within 1-4 days after injury
- National Workers' Compensation Score™ should attain 78 - 100 after Improvement Plan implementation
- National Workers' Comp Score Tracker™. should show consistent upward trend
The initial benefit of the Workers' Comp Kit® is to increase awareness of workers' compensation cost containment problems and their possible solutions where many small business owners never previously realized there were any.
The scalable Workers' Comp Kit® allows a business of any size to choose the modules that fit their needs and budget:
- Some small companies may only need a few documents because their workers' comp issues are limited to a few outstanding claims
- A medium size company may benefit from comprehensive training for all its managers and supervisors in WC management "best practices."
Why Smaller Businesses Overlook WC Claims Management
A few of the reasons that workers' compensation claim management tends to be overlooked and underutilized by smaller businesses include:
- Smaller companies are less likely to have an experienced individual who has background in workers' compensation cost containment.
- The primary implementer lacks either the time or the experience to recognize problems and solutions to manage workers' comp issues.
- Workers' Comp Kit® provides the background for users to get up to speed on workers' comp issues so they will know how to use the tools.
- Implementers at small companies are more likely to be unresponsive when workers' compensation issues arise because they do not realize solutions they could implement are within their grasp - as close as changing their injury management practices
- Small companies generally have no formal medical resources available to them. Our resources can help reduce losses in small companies by having a part-time Medical Advisor contact the doctors treating your employees (where permitted)
- Workers' Comp Kit® tells companies what they are doing right and what they're not doing well.
- The system allows management to make fast, accurate decisions based on easy-to-use Benchmarking Reports
- Management learns how to implement solutions quickly and correctly
Get started TODAY! To assess your current practices simply answer a few questions in 10 key areas. Based on your responses, a National Workers' Comp Score™ is generated to determine how your company's practices and procedures compare to similar businesses across the country.
The easy-to-use Assessment Tool allows you and your company to determine:
- How well you are controlling your workers' compensation costs, and
- How much those costs can be reduced!
For more information about how to reduce your Workers' Compensation costs, send us an e-mail, or simply submit this short form.
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