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25BMR




Products & Services

Excellence in Workers' Compensation Program Administration

ID: PHR-209


Features:

9 Info Graphics

31 Data Graphics

14 Metrics


Pages: 55


Published: Pre-2013


Delivery Format: Shipped


 

License Options:

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Single User: Authorizes use by the person who places the order or for whom the order was placed.

Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.

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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Workers' Compensation represents a major potential cost to employers with employee replacement costs averaging $10,000. Companies across various sectors, including manufacturing and aerospace and defense, can use this information to evaluate the administration of their workers' compensation programs. Key topics include:
  • Program Structure
  • Annual Cost
  • Outsourcing
  • Scope and Volume of Activities within Administration/Claim Oversight

This 55 slide presentation is based on an in-depth survey of executives at 18 companies by Best Practices, LLC.

Industries Profiled:
Aerospace; Banking; Medical Device; Manufacturing; High Tech; Energy; Automobile; Utilities; Telecommunications; Defense; Chemical; Financial Services


Companies Profiled:
Boeing; Teleflex; Bombardier Aerospace; The Manitowoc Company; Cisco Systems; ChevronTexaco; ConocoPhillips; DaimlerChrysler; DTE Energy; Emerson Electric; Exelon Corp; Lucent Technologies; Northrop Grumman; PPG Industries; Raytheon; Rockwell Automation; SBC Communications; U.S. Steel


Key Findings

Annual claims per Workers' Compensation FTE averaged 75 for the benchmark class and 102 for the top quartile.
  • Higher volume companies show slightly more efficiency at 104 claims per FTE.
  • Employees supported per Workers' Compensation FTE averaged 1,639 for the benchmark class and 3,955 for the top quartile.
  • Administrative costs per Workers' Compensation FTE averaged $1,327 for the benchmark class and $458 for the top quartile.
  • The return-to-work rate averaged 93% for the benchmark class and 98% for the top quartile. This gap represents a potential savings of $28M assuming a $10K employee replacement cost.
Table of Contents

Introduction
  • Key Findings and Metrics
  • About the Benchmark Class
  • Workers' Compensation Benchmarks
  • Productivity Analysis
  • Next Steps

List of Charts & Exhibits

Number of TPA/Carriers Overseen
  • Workers' Compensation Staffing Preferences
  • Internal Staff Activities
  • Percent of Employees Receiving WC Payments
  • Annual New Claims and Claim Volume
  • Annual Claims per FTE
  • Annual Disability Days per Claim
  • Employees Supported per FTE
  • Administrative Costs per Employee Supported and per WC Claim
  • Return to Work Rate