June 19, 2012 § Leave a comment

Another expose by David Shoebridge – of NSW Government Waste.Barry O’Farrell must keep the faith & keep his hands off workers comp while implementing the identified savings…

It is what it is

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Fast Facts:

From 1997 to 2010 major workplace injuries fell by 53%

From 1997 to 2010 inflation increased by 44%

From 1997 to 2010 management fees increased by 236% (more than 5 times inflation)
From 1997 to 2010 benefits paid increased by 43% (less than inflation)

From 1997 to 2010 management fees per major injury increased by 620% (14 times inflation)

If private insurer management fees had, like benefits, grown only by inflation then $1.6 billion dollars would have been saved.

In FY 2010 management fees paid to private insurers accounted for 24% of the value of benefits paid to injured workers compared to just 10% in FY 1997

Read more: http://davidshoebridge.org.au/2012/05/14/1-6-billion-wasted-on-paper-shufflin…

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