Employment risk events can hurt an ASC's growth, damage culture, impact insurance rates and significantly impact the bottom line if handled improperly, according to a MedHQ report.
MedHQ identified the five most challenging employment risks for ASCs based on its database of risk management issues and an ASC industry survey. The company determines the level of risk and associated cost for each event.
Here are the top five risks and the potential costs they could incur.
1. Family Medical Leave Act/Americans with Disabilities Act
Low risk: $12,500
Medium risk: $25,000
High risk: $50,000
2. Workers' compensation claims
Low risk: $5,000
Medium risk: $10,000
High risk: $20,000
3. Involuntary termination
Low risk: $6,250
Medium risk: $12,500
High risk: $25,000
4. Sexual harassment
Low risk: $25,000
Medium risk: $50,000
High risk: $100,000
5. General harassment and hostile work environment
Low risk: $25,000
Medium risk: $50,000
High risk: $100,000