Answering your questions about the cost of a workplace injury
There's no escaping this fact - if you're dealing with a workplace injury, you're likely to have some hefty expenses to deal with. Your medical bills might only be the start of it - there's also the possibility of lost wages during the time you're unable to work, plus the cost of rehabilitation as you ease back into your job.
How significant are all these costs, and where will you find the money to pay for them? These are crucial questions to answer if you ever have a health situation come up at work. Here's a rundown of what you need to know.
1. How costly are workplace injuries in Australia?
When you look at just one workplace injury in a vacuum, it might not seem too significant, but the totality of them all can have a pretty staggering economic impact. In fact, according to data from SafeWork Australia, work-related injuries and diseases cost the Australian economy a total of $61.8 billion per year, which represents 4.1 per cent of the nation's gross domestic product.
This total includes both direct costs (such as workers' compensation payouts) and indirect ones (such as lost productivity at work). When you add up all the impact, companies and their employees end up suffering considerably.
2. Who usually ends up paying these costs?
It would be one thing if employers were able to step up and cover that $61.8 billion bill, but that rarely happens. In fact, SafeWork found that 95 per cent of the total expenses related to workplace injuries end up being paid for by individuals, with employers only handling 5 per cent.
If you're someone who's been adversely affected by an injury at work, you don't want to turn into a statistic. To take matters into your own hands and make sure you aren't stuck with hefty expenses, get in touch with an experienced workers compensation lawyer who will fight for your case.
3. How can you avoid financial hardship?
To avoid being stuck in a difficult position financially after a workplace injury, it's best to quickly find out where you stand in terms of claiming damages. Have you lost wages or run up big medical expenses? Talk to a lawyer immediately.
Workers compensation lawyers Sydney
At Marshall & Gibson Lawyers Sydney, we have a great deal of experience with handling workers' compensation cases and getting people the payouts they deserve.
We have a proven track record having won over 99% of our work accident injury cases. We’re so confident in our legal expertise with workers compensation claims that with our “No Win-No Fee” basis, you only pay if we win your claim for you.