research and insight

Recordable injuries: The hidden costs
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Did you know that the true costs of treating a workplace injury or illness are far higher than most companies realise, and poor case management can contribute significantly to these costs. 

The direct costs of treating a workplace injury or illness are just the tip of the iceberg. They form only about 20 per cent of a company’s total liability from workplace injuries, which, if managed poorly, can end up in the millions from indirect costs.

Companies are under increased pressure to reduce operating costs yet still increase productivity. Too often this can lead to increased injuries, unidentified injury patterns, or quick-fix solutions that actually end up costing companies more in the long run.”

International SOS encourages companies to understand the hidden costs of workplace injuries and review their own injury management processes

Workplace health and safety is more than just treating an injury once it’s happened or reducing recordable figures. It’s about prevention, identifying and rectifying recurring issues, and providing the right treatment when it’s needed to ensure a fast recovery and promoting a healthier and happier workforce.

Taking a preventative approach to injury and illness management is proven to reduce recordable injuries and lost time. In addition, having appropriate illness and injury case management in place saves money. 

An analysis of International SOS’ healthcare processes on a recent resources construction project in Queensland found a 15% decrease in TI claims, 21% decrease in Workcover claims and 30% decrease in client workers’ compensation costs.

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Having an integrated solution, including the right onsite services and medical staff, makes a huge difference to the outcomes of workplace injuries.

It is important for organisations to regularly review how they manage cases and conduct a thorough cost benefit analysis of taking a preventative approach to injury and illness management.