TY  - JOUR
PY  - 2018//
TI  - Cost-benefit analysis of investment in occupational health and safety in Colombian companies
JO  - American journal of industrial medicine
A1  - Riaño-Casallas, Martha I.
A1  - Tompa, Emile
SP  - 893
EP  - 900
VL  - 61
IS  - 11
N2  - 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>
LA  - en
SN  - 0271-3586
UR  - http://dx.doi.org/10.1002/ajim.22911
ID  - ref1
ER  -