The formula for determining your company’s workers’ compensation rates is complex, but the concept behind it is simple: the more claims that your employees file, the higher your rate will be.
If you spend a lot of time – or even worse, not enough time – trying to find ways to lower workers’ compensation costs, a professional employer organization (PEO), might be a good fit for you.
How Can I Lower My Workers’ Compensation Rates?
There are two rate management strategies every business should implement when it comes to workers’ compensation: cost containment and loss prevention.
1. Cost Containment Strategies
You may not be a Fortune 500 company, but when you partner with GMS, you'll gain access to a risk management team that gives you Fortune 500 service. We can help you qualify for significant workers' compensation discount by minimizing your exposure, helping you keep good records, and more.
2. Loss Prevention Strategies
Prevention is the best medicine, so GMS will work with you to reduce the risk of workplace accidents.
Our loss prevention strategies include:
- Safety training programs
- Development of safety manuals
- Development of safety guidelines for employees
- Workplace inspections and guidance on OSHA compliance
- Help implement a drug-free and drug-testing program
You Can Leave the Details to Us
When you partner with GMS for workers’ compensation claims management, you’re getting more than just a cost savings; you’re also getting a partner that oversees the process of claims management and works closely with carriers to ensure that your best interests are always at the forefront.
For instance, we help with:
- Claims investigation
- Claims certification
- Hearing representation
- Merit rate predictions
In other words, you can leave the details to us so you can keep the focus on growing your business.
Contact us a call today at 330-659-0100 and get your workers’ compensation risk under control.