Workers Compensation Case Study Results
Working with more than 26 employers over a three-year period, Odyssey Comp Partners studied the effects of several innovative workers compensation policies as they were implemented. Each of these policies was developed in the hopes of positively impacting corporate profitability and employee productivity, while simultaneously reducing injuries and program administration costs. Odyssey Comp Partners added the following initiatives to there overall workers compensation strategy:
RESULTS
Total Claims Cost
Reduced total incurred claims cost by 59%
$1,380,389
before
$561,614
after
Average Cost Per Claim
Reduced average claim cost by 50%
$8,093
before
$4,068
after
Average Cost Of Lost Time By An Injured Employee Per Claim
Reduced average lost time claims cost per claim by 61%
$28,604
before
$11,080
after
CASE STUDIES
Where Does it End?
“We had meeting after meeting, year after year on how we could get our arms around our claims costs and the negative effects it was having company-wide. We hired Odyssey Comp Partners and now our workers’ comp program is a strength of our company” K.M- HR Director Problem A western Minnesota hospital was having issues …
Budget Crisis
“We entered into a business relationship with Odyssey Comp Partners at a critical point in our business. Their execution moved us to profitability” M.B – Administrator Problem A southern MN Senior Living facility had 37 claims, totaling nearly $500 million, within a four-year period. The majority of the injuries consisted of back and shoulder strains …