Monday , 20 November 2017

Improve EMR Rating Now To Keep Tech Startup Costs Low

EMR ratings, also referred to as Experience Modification Rating or Experience Mod for short, can have a huge impact on a business overhead. Tech startups are no exception. If you have employees, you should certainly be concerned about your EMR rating. It affects the cost of worker compensation premiums you will be expected to pay. However, many tech business owners like yourself do not understand how to improve your business’s experience mod. If you want to keep a low experience mod or lower your EMR rating, find out just how to do it below.

Implement A Health & Safety Plan

If you do not already have one, create a specific health and safety plan for your tech business. Designing a HASP with eClinical Works or similar will help you to lower your experience modification rating. Include in the plan any job safety analysis, or JSAs, you currently have in place. Then, be sure to distribute a copy of your HASP plan to all workers, including management. Make sure you update health and safety plans each year to keep them current and fix any areas that can be improved. This will help you to lower your experience mod, though it may take a little while to take effect.

Create A Return To Work Program

Creating a return to work program can reduce wage-loss benefits costs if implemented correctly. Return to work programs, if you do not already know, allow injured workers to return to work in a limited capacity or in temporary alternative role. These plans can help you control the costs of workplace injuries and illness. That will ultimately lead to a lower EMR for your business, so you would be wise to develop a return to work plan as soon as you can.

Always Report ASAP

Report injuries as soon as they happen. Be sure employees seek medical attention immediately following any workplace accident or injury, especially if it involves a burn from an overclocked CPU or a situation with similar severity. Doing so will help you prevent avoidable long-term costs incurred by employee’s not receiving timely medical care. This is one change you can make that will help lower costs now and improve your EMR rating long term.

Prevent Mishaps

Obviously, preventing mishaps at work is the number one way to improve your experience modification rating. The less worker compensation claims you have, the lower your rating. Prevent workplace injuries by creating a Job Safety Analysis for each and every position in your organization, even tech desk jobs that seem harmless. This will help you to train your employees on the proper procedures to avoid accidents on the job. It will also help you present a case for a better experience mod rating.

Conduct A Review

Make sure to have a comprehensive EMR review conducted on your tech business. If you have an experience mod review done every couple years, you will get a glimpse at the data collection methods they prioritize. You will also gain information regarding your exact data, which will help you identify areas in need of improvement. Make sure your business makes a point of getting an EMR review every other year or so. Your experience mods will thank you for it.

If you are the proud owner of technology startup, you may not have ever worried about your EMR rating, unless, perhaps, you utilize PCF Citrix Healthcare. However, your experience modification rating can have a huge impact on your worker compensation premiums. Now is the time to learn. Use these tips above to improve EMR for your business. You may feel silly, as it is not probably that a tech employee will get hurt on the job. But, you never know. Take these precautions to lower your emr rating and keep employees safe and healthy.

Photo from http://www.sitkins.com/blog/what-in-the-heck-is-an-experience-modification-rate

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