WCRI 2024 Preview: What I’m Looking Forward to Seeing

Socrates said, I’m the wisest man alive for I know one thing, and that is that I know nothing. Hello, my name is Michael Stack. I’m the CEO of Amaxx. I’m excited to attend the WCRI conference in Boston, Massachusetts this week. That quote in regards to Socrates is that I know that I know one thing. It’s that I know nothing is really steeped and versed in the fact that we always need to constantly be learning.

Continuous Learning

We always need to continue to push ourselves to stay up with the recent trends, to connect with those, to learn from others, and to not think that, Hey, I’ve been in this business five years, 10 years, 20 years, 30 years, and I’ve mastered everything there is to know, because that’s just not the case. Things are always changing, always developing, and there’s always continuous improvement that we all of us need to continue to make.

So I’m excited to attend this year’s WCRI conference. It’s always one of the most interesting, I think, that I attend on an annual basis. A couple of things that I want to lay out how I look at WCRI, so how I look at WCRI in general, from my perspective, which is typically the employer perspective, the employer, and then service providers that are servicing that employer. So that’s the perspective that I come from as we lay out WCRI, as I’m looking forward to, and I just kind of wrote up, this is kind of the morning of the first day, morning and early afternoon of the first day. There’s a microcosm of how to approach or how I approach WCRI may be something for you to think about or maybe you could share some things with me for me to think about, because again, we’re always constantly learning, trying to get better.

Keynote: Macro Trends in Healthcare

But I would want to share with you how I look at this. How we’re going to open up our WCRI is opening up is we’ve got a keynote speaker. If we talk about the healthcare system, staffing shortages, provider burnout, we know this is going on and this in relation to this in regards to medical payment inflation. This is session number two, what is happening in our healthcare system, which, oh, by the way, everyone that gets injured in workers’ compensation gets treated in some fashion in the healthcare system, obviously with an occupational slant. But this is very relevant to what we’re doing in our world. So how do we approach this? How do we take this information, understand what is going on from a global macro perspective? What are the trends telling us? What are the overall economic influencers that are happening in our world that are going to trickle down to the workers’ compensation space?

Application of Macro Trends in Daily WC Management Programs

And then down here, how do we now make sense of these things? So this is how I look at this. This is how I look at WCRI. What is going on from a globalist perspective? What are the trends telling us? What are these outside factors that we need to be aware of in order to make some decisions as we come down to how does this apply to us in workers’ compensation? How does this apply to you at the Acme Company? How does this apply to you at the ACME insurance broker or insurance provider or service provider organization in terms of how we’re impacting overall workers’ compensation costs, these things in terms of burnout, staffing shortages, overall global trends are going to influence our psychosocial risk factors. Is there a lot more anxiety? Is there a lot more mental health? Is there a lot more issues going on in the world?

The answer is obviously yes. Yes. We need to understand those. We need to understand these factors. We need to understand these trends, and then we need to apply them. We need to apply them. We need to apply them in our programs, understand the global trends, and then apply them in our programs in order to continue to push this ball forward.

See You There!

As Socrates said, I know one thing and it’s that I know that I know nothing. Learn from what is happening in our world. Understand these things, learn from these experts, learn from these economists, and then figure out how we apply them in our program. We always need to continue learning. I’m excited to attend this year’s WCRI conference. I’ll come back from the conference and I’ll share it For those that weren’t there, some of my top takeaways. So hope we can continue to advance the impact and the effect of what we’re doing in the workers’ compensation industry. So remember, your work today, workers’ compensation can have a dramatic impact on your company’s bottom line, but it will have a dramatic impact on someone’s life. So it’d be great.

Michael Stack, CEO of Amaxx LLC, is an expert in workers’ compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers’ compensation costs by 20% to 50%. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center. WC Mastery Training teaching injury management best practices such as return to work, communication, claims best practices, medical management, and working with vendors. IMR software simplifies the implementation of these best practices for employers and ties results to a Critical Metrics Dashboard.

Contact: mstack@reduceyourworkerscomp.com.

Workers’ Comp Roundup Blog: http://blog.reduceyourworkerscomp.com/

Injury Management Results (IMR) Software: https://imrsoftware.com/

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