by David Schek | Jul 25, 2013 | News, Workers Comp, Workers' Compensation Insurance
Rarely do I find such a concise and well written article about the causes of higher workers compensation rates. I knew immediately I had to share it with you. The many charts and graphs will add to your understanding of why workers compensation rates are increasing and where they are going.
— Download Whitepaper
I would enjoy speaking to you about identifying least expensive workers compensation solutions. Please feel free to contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
Be Sure to Visit us at Booth 104 at the ASA Show
by David Schek | Jul 23, 2013 | News, Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
In study after study, employees with obesity issues are devouring their employers profits by being involved in more workers compensation claims. In fact they have higher workers compensation claim rates, spend more time getting back to work after an accident, and tend to be more affected by co-morbidity health issues. These facts are documented in multiple workers compensation studies from the NCCI as well as academic institutions and large workers compensation health agencies.
For example, in the article below, the author cites one example “where a worker weighing more than 300 pounds sprained an ankle. Even though he was in his mid-20s, the worker’s treatment dragged on for seven months without reaching maximum medical improvement, despite physical therapy and light-duty job.”
http://www.businessinsurance.com/article/99999999/NEWS080104/399999789?tags=|331|329|304|92
In addition the author follows up with an insightful observation that cases like this one involving an obese person “presents an additional challenge for workers comp managers because the longer an injured worker is away from the job, the greater risk they will “decondition” and gain additional weight, making it even harder to help them return to work, several sources said.”
Clearly this is a complicated health issue with wide scale implications for workers compensation costs– especially for light industrial staffing companies. Americans are becoming more obese with each passing year and light duty is often hard to cost effectively coordinate.
A more positive trend among light industrial staffing companies this year is the use of Professional Employer Organization (PEO’s) to help them decrease their use of expensive State Funds and eliminate the need to pay for internal administrative staff. This increased efficiency helps staffing companies focus more on the sales and servicing of their clients.
For a FREE PEO quote from a PEO broker with 25 years of staffing industry experience, and who has seasoned relationships with PEO’s that specialize in partnering with light industrial staffing companies, contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jul 15, 2013 | Consulting Services, News, Professional Employer Organization (PEO), Workers Comp, Workers' Compensation Insurance
Staffing Industry Review recently published a very informative article about the current state of workers compensation for staffing companies. They reference several leading experts on their perceptions of where the workers compensation market is heading.
Here is a link to that article-
http://www.staffingindustry.com/Research-Publications/Publications/Staffing-Industry-Review/July-2013/Rising-Tide
—
These authorities generally deal with larger staffing companies with sales over 10M and premiums above 200K. From my experience of working with start ups and smaller staffing agencies, the difficult market conditions will exist for a longer period of time since many of these smaller staffing companies are less profitable for these insurance companies or State Funds.
A solution that many smaller staffing companies are selecting is partnering with a Professional Employer Organization or PEO. These PEO’s are experiencing a stabilization in their rates. Because of their huge size, these PEO’s are afforded much lower workers compensation rates than a typical staffing company that may use the State Fund. As a result, the PEO’s pass some of these lower rates to their smaller staffing clients to make and keep them more competitive– like a good insurance partner.
Please feel free to contact me at davidstaffing@gmail.com to discuss how you can start utilizing a PEO partner to better manage your workers compensation costs. Also visit us at https://StaffingCompSolutions.com/Work Comp Staffing Solutions-staffing-consulting-services/ to find out about our other staffing support services.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jul 9, 2013 | Workers Comp, Workers' Compensation Insurance
Some times my staffing clients tell me that they have seen or heard about every kind of workers compensation claim possible.
After they share a few workers compensation claims stories with me, I would usually have to agree with them. Then I read this recent article (see link below) about some VERY VERY Strange Workers Compensation claims. These claims will leave you wondering whether any work environment is “truly safe.” It may also have you wondering what exactly is a “work environment” when it comes to a workers compensation claim?
— http://www.cracked.com/quick-fixes/5-bizarre-workers-comp-claims-that-were-actually-successful/
I hope these unusual stories help you smile or chuckle a little– especially since these claims did not happen to you. To find out more about the Work Comp Staffing Solutions management consulting services and workers compensation-professional employer organization programs, please contact me at davidstaffing@gmail.com and visit our web site at www.StaffingCompSolutions.com
All the best and we hope you had a safe 4th of July,
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jul 1, 2013 | Consulting Services, Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
There are basically 2 schools of thought on this issue. The first school of experts suggest that some workers compensation costs will decrease over time since comp costs will be shifted to ACA plans for the millions of workers who are covered under these new health programs. Which would be great for most staffing companies. Conversely, another school of experts say that the ACA will swamp the existing medical facilities and resources from day 1, forcing workers compensation claimants to wait longer for their treatments (at hospitals and clinics) , resulting in increased workers compensation costs and higher indemnity claims.
This article below discusses these issues in more detail. It also looks at Massachusetts’s experience since 2006 where they have had a similar plan as the ACA, and now have some history as to how it has impacted workers compensating costs.
— http://www.aaos.org/news/aaosnow/nov12/advocacy2.asp
Work Comp Staffing Solutions speaks to many staffing company owners each week. This topic comes up in most of our conversations as more staffing companies sign up to partner with Professional Employer Organizations to help them manage these ever increasing payroll responsibilities and liabilities.
To find out what more staffing companies are doing to manage their new ACA responsibilities while trying to decrease their payroll burden costs, please contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com
Finally, be sure to ask us about how we can make your staffing company much more efficient and help grow your sales using Work Comp Staffing Solutions’s “hands on” Consulting Services. https://StaffingCompSolutions.com/Work Comp Staffing Solutions-staffing-consulting-services/
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jun 24, 2013 | Healthcare Insurance, Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Most staffing companies learned long ago that sending a workers compensation accident victim to the emergency room is probably the most expensive way to deal with the accident. The expenses generated from having an emergency room treat the employee, are bound to be very expensive– even for minor injuries. As a result, over the last 10-15 years, many staffing companies have wisely developed relationships with managed care providers that are located near their offices– believing that this was the best way to control their workers compensation costs.
Like with so many things in business (especially health care related), these relationships need to be managed carefully. This article explains how managed care companies are often over charging for many of their services, and that Third Party Administrators (TPA) that are supposed to be managing the managed care providers for the staffing companies, are not always doing their job properly.
http://www.businessinsurance.com/article/99999999/NEWS080110/399999535?tags=|331|92
This is another reason why working with a Professional Employer Organization (PEO) can help keep your workers compensation costs as low as possible. The PEO has specially trained staff to manage each accident situation, and make sure that the costs for treatment are reasonable- since the PEO is on the hook for these expenses too.
Please feel free to contact me at davidstaffing@gmail.com to discuss how you can start utilizing a PEO partner to better manage your workers compensation costs. Also visit us at www.StaffingCompSolutions.com to find out about our other staffing support services
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
