There are many variables to consider when a workplace injury occurs. The severity of the injury is going to have a drastic impact on how much it costs, for example.
Those who have been injured on the job need to have some understanding of how much their injuries are likely to cost so that they can know what amount of workers’ comp they deserve. Below are a few key statistics to consider if you have been hurt on the job or if you are doing your research in advance, in anticipation that an injury could happen.
The costs in 2020
A recent study looked at the full cost of medically-consulted workplace injuries that occurred in 2020. What it found was that the average cost in every case where the worker passed away was $1,310,000. In non-fatal accidents, the average cost was $44,000.
What does this calculus include?
To arrive at this number, researchers looked at all of the costs stemming from a particular injury. This certainly included medical expenses, but went well beyond that. It also included the wages that a worker would lose, for example, and the administrative expenses and other employer costs that may have resulted from the harm.
It also costs time
Another thing to consider is that a workplace injury costs an employer a lot of time in days worked. The total for 2020 was 99 million. That’s how many days were lost due to injuries that happened in 2020 or that occurred in prior years and still affected the workplace. It is also predicted that 50 million more hours will be lost in the future due to the injuries that workers suffered in 2020 alone.
What options do workers have?
While looking at all these costs, it’s clear that getting injured on the job can have a major financial impact. That is just part of the reason why injured workers need to be sure about all of the legal opportunities they have to seek proper compensation. Seeking legal guidance is a good way to achieve this goal.