%0 Journal Article
%T Cost-benefit analysis of investment in occupational health and safety in Colombian companies
%J American journal of industrial medicine
%D 2018
%A Riaño-Casallas, Martha I.
%A Tompa, Emile
%V 61
%N 11
%P 893-900
%X OBJECTIVE: To determine whether investment in preventive measures by a Colombian insurer reduces rates of work-related injuries and results in positive returns from these investments. <br><br>METHODS: The study is based on monthly panel data of 2011-2015 of 303 medium and large companies affiliated with a private insurer in Colombia. We undertook regression modeling analysis to assess the effectiveness of incremental investments in occupational health and safety (OHS) prevention measures. The cost-benefit analysis is from the insurer's perspective. <br><br>RESULTS: Investment in OHS per full-time equivalent was statistically significant at the 1% level. We estimated that 4919 injuries were averted through these investments, resulting in the avoidance of $3 949 957 in costs. Our results suggest that the investments were worth undertaking from the insurer's perspective. <br><br>CONCLUSIONS: This paper provides new empirical evidence on the effectiveness and cost-benefit of OHS investments in a middle-income country. Incremental investment in OHS can be effective and cost-beneficial.<br><br>© 2018 Wiley Periodicals, Inc.<p /> <p>Language: en</p>
%G en
%I John Wiley and Sons
%@ 0271-3586
%U http://dx.doi.org/10.1002/ajim.22911