A Review of 2023 Workers’ Compensation Claims

A Review of 2023 Workers’ Compensation Claims

April 18, 2024

Learning From Our Pasts

Reducing workplace safety incidents to achieve the ultimate goal of zero injuries is a key objective of successful businesses. By prioritizing employee safety, employers can not only significantly reduce the cost of their workers' compensation, but also boost employee morale, productivity, and profits.

To help clients achieve zero injuries, Friedlander Group studied clients' claims data from 2023 to determine the most frequently occurring and costly claims. By learning from past claims and understanding their causes, employers can more easily identify possible workplace hazards and focus on safety training with their staff to avoid workplace injuries.

In 2023, Friedlander Group's Claims Solutions™ team managed over 3,450 claims totaling $20.1 Million in costs. Five incident causes/injury types accounted for 74% of all claims frequency and cost. These top five incident causes in 2023 were:

  1. Slips, Trips, & Falls - 39% of Claims
  2. Automobile - 10% of Claims
  3. Struck - 9% of Claims
  4. Individual Handling - 9% of Claims
  5. Lifting - 7% of Claims

The most expensive claim in 2023 was Individual/Patient Handling with a total cost of $393,293. The average cost per claim in 2023 was $6,000.

Of the 3,450 claims reported, the Friedlander Claims Solutions™ team was able to use The Self-Payment Technique™ to keep 52%, or 1,781 first-aid type claims “out of the system”. This unique service helps clients capture savings of up to three times the out-of-pocket costs on their workers' compensation insurance by reducing experience modifications.

Employers should use their claims history to identify hazards and make improvements in safety and training.

Safety-driven organizations publish articles constantly with helpful tools and tips to improve employee safety. Some of the best resources can be found at: https://www.friedlandergroup.com/claims-solutions/safety-solutions/

Contact our safety expert Ray Sullivan for more information.