May 22, 2018

WorkCompRecap: Avoidable Costs!

Today’s issue of WorkCompRecap features ReedGroup’s recent presentation of new research that found that companies can save approximately $6 billion a year in “avoidable medical costs” associated with disability claims among the 55 million U.S. workers with short-term disability benefits.

Key to the findings was that significant cost savings could be achieved by returning employees to work within expected recovery time frames. Researchers found that there was a direct link between incurred costs and the duration of an employee’s disability, with significant costs occurring even at later stages of the disability case. ReedGroup noted that among the 13,000 cases in the research cohort that experienced treatment for meniscus disorders, a popular condition, there were $10.4 million in medical and pharmaceutical costs incurred after the point when the individuals could be expected to return to work. The researchers noted that shortening disability duration by even a few days through interventions like active case management and adherence to evidence-based guidelines, can represent significant savings in healthcare costs for all parties.

Find out more (including a link to the presentation!) by clicking here!

  • RSS
  • Twitter
  • LinkedIn