Final answer:
Installing patient lift equipment in care areas is the most effective risk management initiative to reduce the risk of back injuries for hospital workers while transferring patients.
Step-by-step explanation:
Based on the high incidence of hospital workers' compensation claims from back injuries obtained while transferring patients, the most effective risk management initiative to reduce this risk is to install patient lift equipment in care areas. This equipment helps to properly lift and transfer patients, reducing strain on hospital workers' backs.