June 19, 2018

WorkCompRecap: Tracking Trends!

Today’s issue of WorkCompRecap features the California WCIRB’s recent release of the 2016 update to its Workers’ Compensation Aggregate Medical Payment Trends report, which uses reported medical payment data representing 91% of the state’s workers’ comp market, and compares medical payment transaction data from calendar year 2014 to 2016.

Key findings from the report included that medical payments per claim dropped 9% from Calendar Year 2014 to $3,474, which was found to be driven by a drop in medical utilization, as reflected in a 10% reduction in paid medical transactions, which offset a 4% increase in payments per paid transaction. The WCIRB also noted that the average pharmacy paid per transaction declined by 17% during the three-year period, which was driven by decreases in all drug categories. Paid amounts and transaction volumes for controlled substances categories dropped 57% and 52%, which the WCIRB attributed to several factors.

Find out more (including a link to the free report!) by clicking here!

  • RSS
  • Twitter
  • LinkedIn