Ohio BWC Reports SID Savings Greater than $100M
The Ohio Bureau of Workers’ Compensation (BWC) announced that with one quarter left in fiscal year 2005, the special investigations department (SID) is on pace to save the agency more than $100 million.
In the past nine months the SID has identified more than $105 million in savings for the agency. The fiscal year 2005 budgetary goal was $93,480,000.
If the SID continues at its current rate, the department will identify approximately $120 million for fiscal year 2005. In fiscal year 2004, the department saved the agency more than $126 million, the highest amount yet recorded.
BWC’s SID works to identify and investigate workers’ compensation fraud and other crime related to the agency. For every dollar spent on fraud investigations in FY05, the SID has identified more than $13 in savings. The average savings identified in a workers’ comp case is $39,000.
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