An EMR is a calculation used by insurance companies to determine an organization’s cost for worker’s compensation premiums. There are a multitude of factors when considering how OSHA EMR is calculated, including: payroll, risk of the industry, and losses and claims that are reported over a three to four year time frame.
Once this number is determined, the National Council of Compensation Insurance (NCCI) takes the calculated number of each individual company and compares it to the national average of that certain industry. The difference between the company’s EMR and the national average determines how much that company is going to pay in workers’ compensation premiums. The higher the EMR, the more a company pays in workers’ compensation costs. Alternatively, the lower the EMR, the lower the worker’s compensation costs.
How can BIOKINETIX help your company achieve a lower EMR and save on Workers’ Compensation premiums?
Here at BIOKINETIX, our knowledgeable background of the medical field combined with our team of ATCs will help prevent injuries in the workplace for your company. According to OSHA records, they estimate that employers pay almost $1 billion per week for direct workers’ compensation costs alone.
Through our ergonomic, health, and wellness programs, we will help your company work towards a lower experience modification rate. Consequently, you will see a decrease in injuries and compensation claims, lower insurance premiums, and an increase in the overall productivity of employees.
Speak to a BIOKINETIX specialist about how to lower your EMR today.
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What is the experience modification rate (EMR)?
An EMR is a calculation used by insurance companies to determine an organization’s cost for worker’s compensation premiums.
How is the workers compensation experience modification rate determined?
The EMR is determined using the following factors: payroll, risk of the industry, and losses and claims that are reported over a three to four year time frame.
How does the EMR calculation impact worker’s compensation rates?
The higher the EMR the more the organization will pay.
How can an organization lower their EMR?
The utilization of health, wellness, and ergonomics programs will help improve workplace safety, lowering workplace accidents, in turn reducing the EMR calculation.