Have an injured worker out of work? The meter is running.

If you're an employer with an injured worker who is currently out of work, the temporary total disability (TTD) meter is running!  Whether it's staring at the meter at the gas pump, silently praying that it will soon stop, or imagining dollars going out the door everytime the air conditioning kicks on and you see your electric meter hypnotically spinning in circles...cha-ching, cha-ching, cha-ching, most of us have at least felt the pain at the pump or cringed when reviewing your summer-time electric bills.

We can blame the meteorologists and global warming, or grumble about the price of oil, but it's unlikely that we're going to stop using gasoline or electricity.  The same goes for workers' compensation (WC) insurance.  It's a requirement for the overwhelming majority of employers, and while there's little you can (legally) do to avoid having WC coverage, there are many ways to avoid overpaying.  Don't worry, you won't have to start biking to work or start adopting the ways of the Amish life.

One of the most influential ways to reduce workers' compensation claim costs (and resulting impact on premium calculations) is to offer modified duty.  If you have an injured worker who has restrictions that you [think] you cannot accommodate, the TTD meter is running.  As a claim representative I was often outraged at the number of employers who didn't seem to be alarmed by this statement:  "Each week that you do not offer modified duty, your policy is paying out $422 per week!  Over the course of 12 weeks, that is $5,064!"  It's not Monopoly™ money, it's real claims dollars.  Dollars paid to an injured worker, who is capable of performing productive work. 

Out of sight, out of mind? 
Maybe it would help to jot down, in cumulative totals, each week, the total amounts paid in TTD benefits to an injured worker while you are unable to bring them back to work.  By Labor Day, that will add up to $2,110, Halloween $5,908, let's not even think about Thanksgiving...

If you're a business owner who is reading this, would you consider implementing a change that would save even $5,000 per year, if it cost little to implement?  Studies have shown that the return on investment from a RTW program can be as much as 25:1.  Spend $30k to save $768,108?  Implementing a RTW program is not so different than changing a work process or investing in a money-saving, high-efficiency heating/cooling unit.  They may cost a bit of time up front, and require some annual maintenance, but they will continue to save you money (pay for themselves) year after year.

 Visit www.eains.com/ecovery to learn more about implementing a RTW program, modified duty options for your company and how to properly maintain your RTW program to keep it running efficiently and cost-effectively.