Claims and Costs News

Workers’ Comp Study Reveals Top Ways to Close Claims Performance Gap

A five-year analysis of more than 1,700 claims executives benchmarking data by Rising Medical Solutions identifies the top three practices claims organizations should adopt to join their more successful peers, or risk falling further behind. Just 24 percent of claims …

Survey: Workers’ Comp Drug Spend Declined by $1B in Past 8 Years

Pharmacy costs in workers’ compensation have decreased by $1.1 billion during the past eight years, according to CompPharma’s 15th Annual Survey of Prescription Drug Management in Workers’ Compensation. “Pharmacy is no longer the fastest-growing segment of work comp medical expenses,” …

Vehicle Complexity Driving Increases in Repair Time Cycle

Repair cycle time and length of rental have seen steady increases over the last several years. Within the industry the primary explanation used to explain these increases is growth in vehicle and repair complexity; which preliminary comparison of vehicle repair …

White Paper Reveals Impact of Attorney Involvement on Workers’ Comp Claim Costs

Injured workers who hire attorneys to handle their workers’ comp claims tend to stay on temporary disability longer, according to a newly released white paper by CLARA Analytics, an artificial intelligence and data science company that specializes in machine learning …

Cost Control and the Role of Precertification and Utilization Review in Workers’ Comp

Medical expenses, now averaging well over 60 percent of average claims costs, according to a 2014 Lockton whitepaper, represent a significant impact on an employer’s workers’ compensation total cost of risk. This trend isn’t going away soon, as this average …

Montana Regulators Propose Fines Against Pharmacy Benefits Managers

State regulators are proposing fines against two companies that manage pharmacy benefits for health insurers, saying they operated in Montana without a license. The alleged violations were discovered while the office of the Commissioner of Securities and Insurance was gathering …

WCRI: Tenn. Workers’ Comp Claim Costs Lower After 2013 Reforms

The average total cost per workers’ compensation claim in Tennessee decreased 6 percent in 2015, reflecting in part the impact of reforms enacted in 2013, according to a recent Workers Compensation Research Institute (WCRI) study. “Most of the 6 percent …

California State Workers’ Comp Fund: Opioid Prescriptions Reduced by 60%

State Compensation Insurance Fund, California’s stable provider of workers’ compensation insurance, reported that it had significantly reduced the number of opioid prescriptions for injured workers by 60 percent since launching its opioid-reduction program in 2014. State Fund implemented a comprehensive …

WCRI: Little Change in Average Total Workers’ Comp Claim Cost Since 2013 Indiana Reform

The average total cost per workers’ compensation claim in Indiana was stable in the years since the state enacted workers’ compensation system reforms, according to a recent Workers Compensation Research Institute (WCRI) study. The study, CompScope Benchmarks for Indiana, 18th …

NCCI Reports on Worker’s Comp State of the Line Findings

During last week’s National Council on Compensation Insurance’s Annual Issues Symposium (AIS) — The Future@Work held in Orlando, Fla., NCCI’s Chief Actuary Kathy Antonello, delivered the State of the Line Report, providing the audience with a detailed description of 2017 …