A kind word and a willing ear are important elements in any return-to-work program; however, for maximum benefit they need to be coupled with one of several protocols that have proven effective: work rehabilitation, work conditioning, work hardening or transitional work programs.
We have three responsibilities as a workers’ compensation insurer. One is to cover the lost wages and medical costs when an employee suffers a workplace accident. Just as important, our second task is to help make our clients’ workplace as safe as possible. Third, we need to assist injured workers in their efforts to return to work as quickly as possible. We become more effective in these tasks if a client has, or can create a strong safety culture in which every employee and their outside contractors takes an active part.
In the workers’ compensation arena, shock losses often present a contentious, agonizing dilemma for an insurance company, the insurance agent and ultimately, the policyholder. The problem rests not with whether or not the loss is paid but the consequences afterward. Let me explain.
Part 2 - Part 1 of this two-part series on home healthcare discussed the challenges facing firms in the home health care market. Because the market is growing so rapidly (5% annually), insurance agents see an opportunity to expand their books of business. I’m not one to discourage any agent from tapping a market; however, as a senior executive experienced in this market, I offer words of caution: don’t dabble in the home healthcare market without taking the time and effort to fully understand and address its unique challenges.
Part 1 - Home healthcare is attracting the attention of entrepreneurs looking for a growth industry and insurance agents looking for a new market niche. This critical segment of the healthcare industry, however, presents a dangerous minefield for the uninitiated. This article is part of a two-part series on home healthcare – this article discusses, the challenges facing those already in the industry or those interested in starting a home health care business. Part 2 will address the huge challenges facing insurance agents who already serve or want to serve this market.