Studies Conducted at National University on Occupational Health Recently Reported (Cost-benefit analysis of investment in occupational health and safety in Colombian companies)

Health & Medicine Week

By a News Reporter-Staff News Editor at Health & Medicine Week -- Current study results on Occupational Health have been published. According to news reporting from Bogota, Colombia, by NewsRx journalists, research stated, "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. The study is based on monthly panel data of 2011-2015 of 303 medium and large companies affiliated with a private insurer in Colombia."

Financial support for this research came from No funding (see also Occupational Health).

The news correspondents obtained a quote from the research from National University, "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. 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. This paper provides new empirical evidence on the effectiveness and cost-benefit of OHS investments in a middle-income country."

According to the news reporters, the research concluded: "Incremental investment in OHS can be effective and cost-beneficial."

For more information on this research see: Cost-benefit analysis of investment in occupational health and safety in Colombian companies. American Journal of Industrial Medicine, 2018;():. (Wiley-Blackwell - www.wiley.com/; American Journal of Industrial Medicine - onlinelibrary.wiley.com/journal/10.1002/(ISSN)1097-0274)

Our news journalists report that additional information may be obtained by contacting M.I. Riano-Casallas, Facultad de Ciencias Economicas, Universidad Nacional de Colombia, Bogota, Colombia.