Performance information Year Performance criteria Targets 2017–18 The insured scheme continues to be fully funded Assessment: On The average Commonwealth premium rate Assessment: Target reduced to 1.1 per cent of payroll (excluding achieved GST) by 2018–19, to ensure the scheme remains financially sustainable Reduce the insured scheme liability to Assessment: On track $1.9 billion, a reduction of $1 billion from the baseline at 30 June 2014, to ensure the scheme remains financially sustainable Reduce the direct administration cost ratio to Assessment: Not on track 20 per cent by 2018–19, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Increase the proportion of employees who have Assessment: returned to work, measured by duration on 13 on track incapacity benefits, to facilitate recovery and 26 track reduce liability. Reported by periods of: 78 weeks—On track 13 weeks—73% 26 weeks—82% 78 A sustained high level of satisfaction and Assessment: On track engagement with the services provided, measured by survey to ensure services are appropriate, responsive and relevant 2018–19 The insured scheme continues to be funded 100–110% The average Commonwealth premium rate Average Commonwealth reduces to 1.1 per cent of payroll (excluding GST) premium rate = 1.1% of for the 2018–19 premium year, to ensure the payroll scheme remains financially sustainable Reduce the insured scheme liability to ensure the Scheme liability is $1.9 billion scheme remains financially sustainable or less by 30 June 2019 That claims administration cost as a ratio of all Administrative cost is claims expenses is 20 per cent or lower for each 20% or lower injury year, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Increase the proportion of employees who have 13 weeks 76% — returned to work, measured by duration on 26 weeks 84% — incapacity benefits, to facilitate recovery and 78 weeks 92% — reduce liability A sustained high level of satisfaction and A stakeholder satisfaction engagement with the services provided, rating of 82% or more for measured by survey, to ensure services are services provided to the Fund appropriate, responsive and relevant
Performance information Year Performance criteria Targets 2017–18 The insured scheme continues to be fully funded Assessment: On The average Commonwealth premium rate reduced to 1.1 per cent of payroll (excluding GST) by 2018–19, to ensure the scheme remains financially sustainable Assessment: Target achieved Reduce the insured scheme liability to $1.9 billion, a reduction of $1 billion from the baseline at 30 June 2014, to ensure the scheme remains financially sustainable Assessment: On track Reduce the direct administration cost ratio to 20 per cent by 2018–19, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Assessment: Not on track Increase the proportion of employees who have returned to work, measured by duration on incapacity benefits, to facilitate recovery and reduce liability. Reported by periods of: 13 weeks—73% 26 weeks—82% 78 Assessment: 13 on track 26 track 78 weeks—On track A sustained high level of satisfaction and engagement with the services provided, measured by survey to ensure services are appropriate, responsive and relevant Assessment: On track 2018–19 The insured scheme continues to be funded 100–110% The average Commonwealth premium rate reduces to 1.1 per cent of payroll (excluding GST) for the 2018–19 premium year, to ensure the scheme remains financially sustainable Average Commonwealth premium rate = 1.1% of payroll Reduce the insured scheme liability to ensure the scheme remains financially sustainable Scheme liability is $1.9 billion or less by 30 June 2019 That claims administration cost as a ratio of all claims expenses is 20 per cent or lower for each injury year, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Administrative cost is 20% or lower Increase the proportion of employees who have returned to work, measured by duration on incapacity benefits, to facilitate recovery and reduce liability 13 weeks — 76% 26 weeks — 84% 78 weeks — 92% A sustained high level of satisfaction and engagement with the services provided, measured by survey, to ensure services are appropriate, responsive and relevant A stakeholder satisfaction rating of 82% or more for services provided to the Fund
2018-19_jobspbs_comcare.docx