Amaxx Risk Solutions, Inc. has helped companies of all sizes reduce their runaway workers’ compensation costs.
These case studies show how we turned the problems of small, mid-sized, and large businesses into cost-saving success stories.
Case Study # 1: The Small Industrial Equipment Installation Company
Problem: Amaxx Risk Solutions received a request from a small industrial installation company with approximately 50 employees.
- In the past year, two employees sustained soft tissue back injuries while working on the job.
- This increased the possibility that the employer’s experience mod and policy costs could increase drastically.
To discover our solutions and learn the results, read the complete Small Business Case Study
Case Study # 2: The Medium Size Manufacturer
Problem: This mid-sized manufacturing company was self-insured and used a third-party administrator (TPA) to handle their workers’ comp claims and provide access to a variety of services including loss control expertise, bill review services, and nurse case management.
- The company established a communication program providing the roadmap for their post injury response and transitional duty programs.
- Three months into implementation they ran into several snags with respect to existing claims involving employees who were out of work too long.
To discover the solutions and learn the results, read the complete Medium Size Business Case Study
Case Study # 3: The Large, Multi-Unit Fortune 500 Company
Problem: A Fortune 500 company with 17 business units contacted us to determine whether their practices met Best Practices. They wanted to know what, if anything, they could do to improve to ensure their program was well-structured.
- The newly hired risk manager was concerned that some units were not controlling their workers’ compensation costs.
- His goal was to develop an overall cost reduction plan that addressed individual issues for the most problematic locations.
- Only $50,000 of the risk management budget had been allocated to fix the problem, which would have limited the project scope, because there were 17 locations to assess.
To discover our solutions and learn the results, read the complete Large Business Case Study
When utilized properly, the tools and information provided by Amaxx Risk Solutions, Inc. will save your small, mid-size or large company money, just as it did for these three successful employers.
For more information on how your company can reduce its workers’ comp costs, order our step-by-step guidebook: “Workers Compensation Management Program: Reduce Costs 20% to 50%” or you can send us an e-mail to request more information.
When can an employer expect to see 20% to 50% savings?
Most employers see immediate savings. The savings is in lower loss costs year after year. For companies with large deductibles, these costs are all out of pocket and quickly begin to shrink once the employer exerts control over the claim process.
For example, instead of having $200,000 in costs of injuries per year out of pocket, your might be able to reduce that to less than $100,000 yearly, by reducing the number of claims and the duration of each of those claims. This increases impact to the bottom line.
Premiums based on the mod will also go down when claim frequency and severity are reduced as a result of “taking control.” Be aware, though, it takes several years to work the “bad” years out of the premium formula. The time to start is now!
Every one of our clients who have progressed through the full program – from assessment through implementation – have reduced losses at least 20%, usually closer to 50%, and in some cases even more.
Taking control halts the process of abuse and establishes best practices for how workplace injuries are handled.
An analogy: Taking control of the workers’ comp process in a company works much like a company establishing an inventory control system – the amount of inventory ordered is suddenly reduced by implementing a process that includes accountability and provides structure.
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