October 17, 2017

WorkCompRecap: New Drug Report!

Today’s issue of WorkCompRecap features the release of Coventry WCS’ 2012 Pharmacy Trend Analysis report, which found that clients experienced a 5.3% decrease in drug utilization due to First Script’s management programs. Coventry also saw decreases in narcotic utilization, with claims between years one and ten showing… [Continue Reading]

Coventry WCS/First Script 2012 Trend Analysis: Workers’ Comp Drug Spend is on the Decline

Coventry WCS

Franklin, TN – Coventry Workers’ Comp Services recently released their First Script 2012 Pharmacy Trend Analysis: Despite significant outside influences on the cost of prescriptions, First Script’s clients experienced a 5.3% decrease in drug utilization due to our management programs. In fact, looking at a subset of data for years… [Continue Reading]

TN Governor Haslam Announces Head of New Workers’ Compensation Division

Tennessee State Seal

Nashville, TN – Tennessee Gov. Bill Haslam recently announced Abbie Hudgens will oversee the new Workers’ Compensation Division starting July 1. Hudgens will serve a six-year term leading the revamped Workers’ Compensation Division in the Department of Labor and Workforce Development (TDLWD). “I want to thank… [Continue Reading]

TDI-DWC Releases Discount and Interest Rate Determination for July 1 through September 30

Texas Dept of Insurance (TDI)

Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation has determined, pursuant to the authority and direction given under the Texas Workers’ Compensation Act (Texas Labor Code, §401.023), that any interest or discount provided for in the Act shall be at the rate of 3.63%. This rate is computed by using… [Continue Reading]

IBISWorld Updates US TPA and Claims Adjusters Industry Research Report

IBISWorld

Los Angeles, CA -(PRWeb)- The US Third-Party Administrators and Insurance Claims Adjusters industry plays a critical role in the insurance and funds sectors by allowing businesses to outsource claims processing and to fund administration and risk management. “Since 2000, the industry’s growth has been driven by a steady increase… [Continue Reading]

WorkCompRecap: Losses & Lessons!

Today’s issue of WorkCompRecap features the release of the California WCIRB’s report on workers’ compensation losses and expenses for 2012, which found that that medical losses paid in 2012 were $4.8 billion, or 60% of total loss payments, up from $4.4 Billion in 2011. Additional key findings included that the total cost of medical… [Continue Reading]

CompLines: 6/28/13

CompLines is a daily set of pertinent links that we believe will be of interest to our readers. Workers’ comp rates are up, but still no profit. Managed Care Matters Number one concern of employers: Post-accident cost control Risk & Insurance The Role of Investigations in Reducing Workplace Accidents Texas Mutual Blog Editor’s Note: These… [Continue Reading]

CA WCIRB Releases Report on Losses and Expenses For Calendar Year 2012

CA WCIRB

San Francisco, CA – The WCIRB has released its report on workers’ compensation losses and expenses for 2012. The report is prepared annually pursuant to Section 11759.1 of the California Insurance Code. Among the findings included in the report: Medical losses paid in 2012 were $4.8 billion, or 60% of total loss payments. Of these… [Continue Reading]

Marsh: Lessons Learned from Bangladesh Factory Collapse

Marsh

New York, NY – The recent Rana Plaza factory collapse in Bangladesh that killed more than 1,100 people highlights the serious risks that labor conditions can pose not only to workers, but also to organizations’ reputations, supply chains, and bottom lines. In its latest Marsh Risk Management Research report, Bangladesh Factory Collapse[Continue Reading]

TDI-DWC Issues Reminder on Pharmacy Informal & Voluntary Network Requirements

Texas Dept of Insurance (TDI)

Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) recently issued a notice reminding all workers’ compensation system participants of the requirements in Texas Labor Code §§408.0281 and 408.0282, regarding pharmacy informal and voluntary networks. Pursuant to Texas Labor Code… [Continue Reading]

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