Focusing on the outcome of claims and examining measurable metrics relating to them can help companies better manage their workers' compensation costs, industry experts said in a conference call on Wednesday.
Speaking during an audio conference hosted by Marsh, Charles Martin, leader of the company's Workers' Compensation Claim Practice, noted that "the number of workplace injuries has been declining since 1991." He added, however, that this decline is simultaneous with an increase in the costs of a claim.
Focusing on the outcome and how this can be effective is important, said Pamela Hobbs, Workers' Compensation Practice innovation leader at Marsh.
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