Risk Management and Wellness Programs
An Integrated Approach to Lower Medical Costs and Improve Workers’ Comp Claim Outcomes
Walsh Duffield Companies, Inc.
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Medical inflation, narcotics abuse, and workers with pre-existing medical conditions that complicate their post-injury treatment are all factors that drive up medical costs. Additionally, pharmacy costs have risen dramatically and now represent 18 percent of the average medical spend of a workers’ compensation claim. Among the chief concerns are conditions that can lead to a comorbidity diagnosis on a workers’ compensation claim, including hypertension, diabetes, obesity, drug abuse and depression. Workers’ compensation claims with a comorbidity diagnosis nearly tripled from 2000 to 2009, doubling related medical costs.
Taking an integrated approach to risk management and wellness cannot only reduce medical plan costs and increase productivity, it can also improve morale and health — and reduce the frequency and severity of workers’ compensation claims. The program should address how the systems, organization and work environment impact the overall health and well-being of the individual worker.
Contact your Walsh representative to assist with workers’ compensation cost containment strategies that will result in improved profitability of your organization.
This information is advisory in nature. No liability is assumed by reason of the information in this document.