March 2, 2023 – Medical inflation is a top concern in workers’ compensation this year and adjusting medical fee schedules may be one way to address rising costs, although the appetite for change is limited, comp experts say.
While some states have introduced legislation to overhaul their schedules, variations in costs among states illustrate the complexity of the issue, they say.
October 5, 2022 – Much of what directs the trajectory of a workers compensation claim has little to do with the claim itself — the injury, the prognosis — and much to do with the claimant’s everyday life, such as where they live or how much money they have in the bank.
Experts say focusing on the so-called “social determinants of health” of an injured worker has the potential to drive better outcomes for injuries and is in line with “whole-worker” health and advocacy trends in workers comp in recent years.
September 23, 2022 – With expert article insights provided by Study leaders from Rising, Travelers, and AmTrust Financial, this Risk & Insurance feature summarizes how high-performing claims organizations are tackling consistently ranked obstacles to strong outcomes, advancing advocacy-based claims models, and operationalizing social determinants of health considerations.
August 29, 2022 – Tackling societal health disparities and training frontline staff on psychological issues are among the areas where the workers’ compensation industry can improve, according to a study released Monday that examined hurdles in getting better care and recovery for injured workers.
May 3, 2022 – The workers’ compensation sector remains a relatively stable and profitable segment of the commercial insurance industry, but some claims are getting pricier and concerns over severity are rising.
Nov 3, 2021 – Which has more impact on an injured worker’s recovery – medical care or socioeconomic factors? From an outcomes – and cost – perspective, socioeconomic issues are, hands down, the most significant. In fact, a recent study found that better coordination of medical and social services “improves health outcomes and reduces expenditures by 10 percent annually per person compared to a control group,” according to the latest Workers’ Compensation Benchmarking Study by Rising Medical Solutions.
Oct 15, 2021 – If there’s anything claims organizations have taken away from the last 18 months, it’s this: resiliency against unforeseen events is an absolute necessity.
The most notable unforeseen event in recent history is undoubtedly the COVID-19 pandemic. Though pandemics were understood as potential risks for all organizations, the real-life fallout of the risk in action has exceeded what most could have imagined.
