Risk Management

Solutions:
"an action or process of solving a problem"
- Merriam-Webster

Managing and Minimizing Risks

Running a company with employees can be risky business, but Human Capital Strategies is available to help you put safety nets in place and avoid unnecessary risks as you grow your business. From workers compensation and employee wellness to OSHA compliance and safety standards, we will help make your location a safe place for employees.

Workers' Compensation

No matter what your industry, workers’ compensation is a vital component of running a viable business. Inadequate workers’ compensation coverage can be detrimental, especially for a small- or medium-sized business. Supported by the experience and expertise of professional personnel who can help you with any questions you have about claims, as well as receive claims, educate injured workers on their benefits, and assist with return-to-work coordination.

If you are a Human Capital Strategies client, you can pay your compensation premium each and every pay period based on the actual payroll that has been reported for that period. We will submit the payments on your behalf and then conduct an annual audit with the carrier, thereby eliminating deposits, payroll schedules, and payroll audits.

When you need to file a claim, we’ll handle all the paperwork. All you need to do is make sure your employee is taken to a medical facility for a check-up and notify us; we’ll manage everything else, including billing and back-to-work scheduling.

Finally, through analyzing - and consistently reviewing - your experience rating factor (or mod), we can even:

 

       Help you understand what the mod is, how your loss history affects the mod and how the mod impacts your bottom line

       Identify and analyze problem areas

       Develop targeted solutions to improve problem areas and reduce premium and claims costs

       Make the mod part of your total risk management strategy

Telephonic Triage Injury Hotline

A 24/7/365 hotline staffed by trained telephonic triage nurses. Using proven techniques, a Registered Nurse can recommend first-aid advice or medical treatment to employer designated medical care sites.

By positioning a Registered Nurse at the beginning of the claim process, we have the greatest opportunity to positively influence costs of the injury, while providing the highest level of service and care to the injured employee.

Light-Duty Work Has Its Benefits

Transitional duty is the cornerstone of any successful risk management program. By returning injured employees back to work through transitional (light) duty tasks and continually transitioning them to an increased work capacity, you can help control medical costs and keep indemnity expenses as low as possible. 

Bringing injured employees back to work at modified light-duty jobs shows the employee that your company cares for their health and well-being. All too often, employees who are not brought back to work on light-duty programs are the same employees who feel neglected and unwanted by their worksite employer and will hire an attorney in hopes of being able to secure a large settlement.  Furthermore, there are often substantial discounts on the impact a claim will have if an employee is able to return to work promptly.

The benefits of providing light-duty work to injured employees include:

  • Improved employee morale.
  • Lower average claim costs.
  • Improved worksite production versus operating an employee short.
  • Increased fraud protection. (If an injured employee is offered a light-duty position that is approved by their treating physician and the employee chooses not to return to work, then the employee no longer receives compensation for missing work.)

Human Capital Strategies will provide the following assistance:

  • Walk you through the steps of executing a successful return-to-work program.
  • Help you train supervisors and employees in prompt reporting techniques.
  • Assist you in developing light-duty positions.
  • Coordinate with medical providers to achieve proper return to work of injured employees.

OSHA Certification and Safety Plans

Does your business need to be OSHA compliant? Our risk-management team can design a certification plan that starts with an assessment of what your company is currently doing, followed by a five-step risk-reduction process with suggestions for you to implement. Of course, we’ll support you through the entire implementation to ensure that you remain compliant.

Whether you need onsite safety inspections, certificates of coverage, or safety training, Human Capital Strategies has your solution. We have created more than 50 safety plans, from accident prevention to workplace violence, and we’re confident these standard plans will keep you compliant. Share our training material with your team to realize a reduction in employee downtime and turnover, lower insurance rates, and higher overall employee morale.

Employers Professional Liability Insurance (EPLI)

EPLI protects the employer, including its directors, officers, and employees, for claims resulting from wrongful termination, discrimination (age, sex, race, disability, etc.), sexual harassment, wrongful discipline, failure to employ or promote, and other employment related allegations. It is estimated that three out of five employers will be sued by an employee, and the typical defense costs average $100,000 to $200,000 per case. EPLI protects companies from this type of litigation.

Contact a sales representative at info@hcscando.com to learn more or schedule an onsite presentation.

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