Millions Saved for Religious and Community Services
WCD – Workers’ Compensation Solutions provides many services to Religious and Community organisations and Aged Care facilities to minimise their costs and provide care for their workers and volunteers. It is a reality that the type of work performed can be fraught with challenges. The staff of WCD are very proud to assist these organisations.
Below is an example of how we have been able to assist a national organisation and the results we have obtained working with them.
This organisation had experienced increasing premium costs associated with rising costs of claims in NSW. Given the size of the organisation these increasing claims costs were having a negative impact on the premium, with the client experiencing premiums of over $3 million higher than the industry specified rate.
The work of the WCD team commenced shortly before renewal and continues to date.
Agreed Resolution: Before the renewal, an initial assessment and review of the existing claims portfolio was undertaken revealing significant problems. WCD has worked on the development of a strategy to address the problems at hand.
Leadership: An important factor in our approach was to provide support to the leadership team so they were aware of the challenges ahead and their role in the process. The WCD team also worked with the claims agent and subsequently has developed a strong partnership resulting in better outcomes for workers and the organisation.
Outcomes: The work of WCD has lowered premium spend by the client, improved quality of care to workers, and released ‘savings’ for the core mission of Religious and Community services. The premium has been reduced by millions of dollars. The premium has decreased by over 16% year on year. WCD are on track to bring premium spend back to the tariff rate. Days lost have reduced by almost 50%.
This organisation has been able to significantly reduce its premium despite the negative impact of changing rates in NSW. Initiatives taken on behalf of this organisation relating to worker safety and effective care and intervention are starting to pay further dividends. The savings can now be utilised to help people in the community which is what this organisation and WCD is all about!