RIMS Conference 2012 - April 15-18 Philadelphia Pa

If you own a company or have employees heed this excerpt from the RIMS Risk Insurance Management Society Conference Website:

If your organization is like most, risk is not confined to just one department. Everyone has risk management responsibilities. At RIMS 2012 Annual Conference & Exhibition, there are no limits to the information and resources available to help you and your organization innovatively minimize risks. You’ll find a wide array of educational sessions offering practical strategies, no matter what your business area. Sessions are offered at all experience levels—from beginner to advanced—so you can design an educational experience that fits your needs. And, the Exhibit Hall is jam-packed with solutions–everything you’ll need for the upcoming year.

RIMS '12 will be held at the Pennsylvania Convention Center located on 1101 Arch Street, Philadelphia, PA 19107.

Join The SRS Group, LLC and hundreds of other exhibitors as we share concepts, ideas, and solutions to managing the risk of our companies.

Cost Containment - Top priority For Employers

Companies are always looking for ways to control costs and this year the focus is on Controlling Workers' Compensation costs.

In an article we posted in December of 2011 we noticed a new trend to do so by laying off workers to cut workers' comp costs . Cutting staff lessens the number of employees at risk and the amount of the premiums companies pay to insure them. Now cutting workers' comp is not an after thought but it has become a strategic weapon in the race to keep companies competitive.

In an interesting article in Insurance Journal posted yesterday, surveys of employers indicate this will be the trend in 2012.

Here is an excerpt from that article;

Controlling workers’ compensation costs is a top priority for employers.

During the next 12 months, employers say cost containment is their number one workers’ compensation insurance concern, a new study shows. Some 59 percent of employers say they are very or somewhat concerned about cost containment in 2012. Employers also expressed concerns about increasing exposures, renewals and rising fraud behaviors.

Almost half of all respondents to the survey – 48 percent – reported a workers’ compensation premium increase in the past year, while 28 percent reported a decrease and 24 percent said their premiums stayed the same.

While The SRS Group, LLC has long understood the benefit of cost containment of workers' comp as a key component of managing both risk and claims, in 2012 it has become recognized as a necessity.

To read the complete article in Insurance Journal click here

Heart Disease in Women

Ladies do you, your spouse, or your employer know the signs of a heart attack.

Yes it does happen to women, in fact Heart Disease is the #1 Killer in Women.

According to the American Heart Association more women die of heart disease than all forms of cancer combined.

Warning signs as posted by the American Heart Association:

• · Discomfort in the center of the chest that lasts more than a few minutes, or that goes away and comes back
• · Shortness of breath
• · Nausea
• · Breaking into a cold sweat
• · Pain or discomfort in one or both arms, the back, neck, jaw or stomach.

Narcotics in Workers' Compensation

How much do narcotics cost workers compensation?

In research completed by NCCI Holdings reports the following:

Narcotics account for nearly one quarter of all workers compensation prescription drug costs. Few members of the medical community would object to the use of narcotics to treat severe, chronic, cancer-related pain. However, the medical community seems divided over the suitability of narcotics to treat other forms of pain, such as those resulting from the majority of workers compensation injuries. Currently, the FDA is in the process of establishing a federal program to ensure the safe, appropriate use of narcotics. The New York Times discussed this future FDA program designed to control “the prescribing, dispensing and distribution of extended-release [narcotics].” One aim of the future program would be to ensure that only physicians who are properly trained in the safe use of narcotics can prescribe them. Several recent articles and studies also point to increased scrutiny of narcotics use. One article notes that, in at least one state, diagnoses of “chronic pain” or “failed back syndrome,” “virtually guarantee that the claim involves over prescription [of narcotics] because these are the diagnoses used to justify the use of narcotics.” Another states that overuse of narcotics has “shown adverse effects on the overall well-being and treatment of injured parties.” This NCCI study examines the use and prescribing patterns of this controversial category of drugs in workers compensation. Click here for the complete article and research findings

Layoff's Due to High Workers' Comp Costs

"A Milwaukee-based temporary staffing company has laid off nearly 500 employees in Illinois, blaming the high cost of the state's workers' compensation system."

In a down-turned economy companies are continually looking for ways to lower their costs. I have heard of closing locations due to the cost of overhead, cutting back on travel, and even what I think is the most ridiculous, cutting advertising, but I have never heard of this one; laying off employees specifically because of the high cost of Workers' Compensation.

Here is an interesting article by Ameet Sachdev, a Chicago Tribune reporter Staffing firm laying off nearly 500 in Illinois - Parallel Employment Group cites state's high cost of workers' compensation.

What will the impact of higher Workers' Comp costs? In this case higher Unemployment. Trading one cost to add to another is not a solution to a long term problem.

Workers' Comp - Time for a New Approach?

Business Insurance
Rising medical costs and loss development, coupled with reduced payrolls, are inflating insurers' combined ratios past the point of tolerability

NewsOK.com

More workers' comp fraud investigators are needed, Oklahoma official says

Insurance News
In today's economy, workers' compensation costs are undergoing renewed scrutiny as employers find it increasingly challenging to maintain the status quo with fewer employees and less money.

Westfair Online

Workers' comp carriers ask for hike;
After rocketing up the ranks of the states where workers' compensation insurance costs the most, Connecticut's rates could climb higher in 2012.

If you own a company or manage the workers’ compensation insurance for your company you have seen these headlines, heard them, or experienced them first hand. A new year is soon approaching and we will be heading into 2012 (can you believe it?). If you still haven’t been able to get the control you want over your costs for injured workers perhaps this New Year you may want to take a new approach. Consider your options and choose the best plan of action for your company.

Join The SRS Group, LLC and meet our knowledgeable and friendly staff as we exhibit at this years National Workers' Compensation and Disability Conference & Expo. Visit us at booth 249.

Meet our field of experts:

Joycelynn Brady, MA, CRC, CDMS, CCM, LPC is the VP of Professional Services. Having over 35 years experience in the field of case management brings a perspective only experience can. Ms. Brady spent 16 years with Continental Insurance (now CNA) as a Case Manager and then Branch Manager. Now in her 16th year with The SRS Group Joycelynn directs Professional Services as our Vice President.

Lisa Wulderk, RN,CRRN, CCM, CAOHC is a Medical Liability Supervisor, Medical Case Manager and Medical Liability Specialist. With 31 years of experience Lisa has a certificate in Life Care Planning and is a Certified Occupational Hearing Conservationist and Instructor for the American Red Cross. Lisa is a Conference Board Member and was a keynote speaker to Self Insured’s several year’s ago.

Barbara Stevens, RN, CNN, MBA a nurse case manager, certified nephrology nurse, with 29 years experience provides Nurse Case Management Services for the state of Ohio. Barb is a previous Board Member of the Ohio LPN Advisory Board, Ohio Renal Association and the Stark County Chapter of the Red Cross.

Alix Lockhart, BS, RCC, ADBA, ABVE Associate has over 22 years experience as a Vocational Case Manager, 15 of which have been at The SRS Group. Alix has unique experience as a specialist working with multilingual claimants under the National Defense Base Act.

Join us this year as we introduce our Injured Worker Triage Services and Critical Injury Management.

The National Workers' Compensation and Disability Conference^® & Expo is the nation's leading event for anyone involved in the workers' comp and disability management industries. Hundreds of your colleagues gather each year to expand their knowledge and gain new solutions directly related to their workers' comp, disability and return-to-work programs.