Tangible Metrics are an ideal resource for measuring the elements that drive claim costs. They indicate the specific interventions that employers should focus on. A long-term view informs them of the underlying situations and conditions that drive up work-related injury costs. This valuable information often leads to significant policy changes. Even a short delay in reporting an injury can increase claim costs by 10 percent. Workers’ Compensation provides coverage for medical expenses and replaces wages for employees who are disabled by an occupational injury or illness. Other expenses include legal and investigative as well as settlement costs. A performance metric is a…
