Overview
What is Ohio Hospitals Group Rated Workers Compensation Program Inc?
Ohio Hospitals Group Rated Workers Compensation Program Inc is a nonprofit organization dedicated to fostering a safe working environment within hospitals and reducing healthcare costs. Based in Columbus, Ohio, the program is affiliated with the Ohio Hospital Association and serves 10 participating hospitals. Two types of workers' compensation programs are offered: a traditional group experience rating program and a group retrospective rating program for private sector hospital members. The traditional program offers up-front discounts to member hospitals due to their better-than-averag claim experience, resulting in an aggregate premium savings of $4,829 and a 231% return on investment for the participating institution. The group retrospective rating program encourages risk management activities to prevent or minimize work-related injuries and manage claim costs. Participating hospitals initially pay their full individually-rated premiums and earn retroactive rebates based on the overall group performance, resulting in an estimated premium savings of $351,613 and an average of approximately $39,068 per member with a 193% return on investment. The primary mission of this nonprofit is to develop and implement programs that promote a safe working environment and reduce healthcare costs.
Is Ohio Hospitals Group Rated Workers Compensation Program Inc legitimate?
Ohio Hospitals Group Rated Workers Compensation Program Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Ohio Hospitals Group Rated Workers Compensation Program Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $537
For more financial information, click here
What is the mission statement of Ohio Hospitals Group Rated Workers Compensation Program Inc?
The Ohio Hospitals Group Rated Workers Compensation Program Inc is committed to developing and implementing initiatives that foster a secure work environment and decrease healthcare expenses. Their primary goal is to promote safety and reduce costs through various programs. The Ohio Hospital Association, with 10 participating hospitals, offers two workers' compensation programs. One is a traditional group experience rating program, providing upfront discounts to member hospitals with better-than-averages claims experience, resulting in significant savings. The other is a group retrospective rating program, which encourages hospitals to invest in safety programs to prevent injuries and manage claims, ultimately leading to substantial retroactive rebates for participating members.
Who is the CEO of Ohio Hospitals Group Rated Workers Compensation Program Inc?
Unavailable
What is the revenue of Ohio Hospitals Group Rated Workers Compensation Program Inc?
Ohio Hospitals Group Rated Workers Compensation Program Inc's revenue in 2022 was $185,989.
Who are the executives of Ohio Hospitals Group Rated Workers Compensation Program Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $132,899
- Other: $64,091
- Compensation: $0
- Related: $137,648
- Other: $53,892
- Compensation: $0
- Related: $463,313
- Other: $119,754
- Compensation: $0
- Related: $37,383
- Other: $7,959
- Compensation: $0
- Related: $252,097
- Other: $98,236
- Compensation: $0
- Related: $99,192
- Other: $47,454
Where can I find the form 990 for Ohio Hospitals Group Rated Workers Compensation Program Inc?
Ohio Hospitals Group Rated Workers Compensation Program Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ohio Hospitals Group Rated Workers Compensation Program Inc
The Ohio Hospitals Group Rated Workers Compensation Program Inc is dedicated to fostering an environment that prioritizes safety and works towards reducing healthcare costs. Their primary objective is to create and implement initiatives that promote a secure working environment and contribute to the decrease in healthcare expenditures. They achieve this by managing two workers' compensation programs, a traditional group experience rating program and a group retrospective rating program, specifically designed for private sector hospital members. Through these programs, participating hospitals benefit from discounted premiums due to their superior claims experience. The traditional group rating program, currently hosting one private institution, offers upfront premium reductions, while the group retrospective rating program, with nine members, encourages hospitals to maintain and strengthen safety programs to minimize work-related injuries and effectively manage claims costs. As a result, participating hospitals in both programs reap substantial savings, with an estimated $4,829 and $351,613 in savings for traditional and group retrospective programs respectively. These savings equate to a 231% and 193% return on investment for the respective members.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Ohio Hospitals Group Rated Workers Compensation Program Inc significantly impacts the healthcare industry by enhancing workplace safety and reducing costs for hospitals in Ohio. It administers two primary workers' compensation programs through the Ohio Hospital Association, namely a traditional group experience rating program and a group retrospective rating program.
Through these programs, participating hospitals are able to achieve substantial financial savings on their workers' compensation premiums due to their effective claims management and safety practices. For instance, one member hospital in the group experience rating program benefits from up-front discounts, resulting in premium savings of $4,829 and an impressive 231% return on investment. In the group retrospective rating program, members have collectively realized estimated savings of $351,613, averaging about $39,068 per member, with a return on investment of 193%.
The emphasis on risk management and workplace safety not only mitigates the occurrence of work-related injuries but also fosters a culture of proactive health and safety within the healthcare sector. The program's mission of promoting safety translates directly into both economic benefits and a healthier work environment, illustrating its critical role in supporting Ohio's healthcare system.
This information is meant to be a general summary of Ohio Hospitals Group Rated Workers Compensation Program Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $171,122
- Program Service Revenue: $14,867
- Gross Receipts: $543,466
Assets and Liabilities:
- Total Assets: $2,551,833
- Total Liabilities: $479
- Net Assets: $2,551,354
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Fees
Revenue
$14,867
Organization Details
Founding Year
1990
Phone
(614) 221-7614Main Address
155 East Broad Street 301, Columbus, OH, 432153640
NTEE Category
Code: Y20 - Mutual benefit
If you are a representative of Ohio Hospitals Group Rated Workers Compensation Program Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.