December 16, 2017

EMPLOYERS Survey: Policyholders Want More Digital Tools, Omni-Channel Experience from Workers’ Comp Insurers

Reno, NV – Technology is changing how small business owners interact with their insurance carriers, according to a new study from EMPLOYERS® (NYSE:EIG). Nearly one in four (23 percent) small business owners believe more online or self-service tools would enable their carrier to provide a better policyholder experience. Better communication and faster claims resolution also topped the list of desired improvements business owners want.The study found that 67 percent of small…[Continue Reading]

CA Nonfatal Worker Injuries, Illnesses Rate Remains Level in 2016

Oakland, CA – The Department of Industrial Relations (DIR) has posted California’s 2016 occupational injury and illness data on employer-reported injuries. According to the estimates provided by the U.S. Bureau of Labor Statistics’ Survey of Occupational Injuries and Illnesses (SOII), California’s overall incidence rate of nonfatal occupational injuries and illnesses remains steady at 3.7 cases per 100 workers for full time employees, the lowest rate in over a decade. The data posted includes…[Continue Reading]

MedRisk Publishes White Paper on Telerehabilitation in Workers’ Compensation

King of Prussia, PA – MedRisk recently announced that it has published “Telerehabilitation & the Injured Worker: A Practical Guide,” a white paper that explores physical therapy in the age of telemedicine and its practical application for the workers’ compensation industry. The white paper examines the use of telerehabilitation for musculoskeletal injuries. Video conferencing, virtual home-exercise supervision and remote patient monitoring can be used to supplement traditional in-clinic care. Telerehabilitation is…[Continue Reading]

WC Drug Spend Continues to Drop, According to CompPharma’s 14th Annual Survey

Maggie Valley, NC – CompPharma’s 14th Annual Survey of Prescription Drug Management in Workers’ Compensation showed an average 11 percent reduction in payers’ pharmacy spend, driven by a 13.3 percent reduction in opioid cost. The survey analyzed the 2016 pharmacy cost data of 23 workers’ compensation insurance carriers, third-party administrators, self-insured employers, and state funds. Working with their pharmacy benefit managers, payers cut one of every six dollars in opioid spend…[Continue Reading]

Novarica: Workers’ Comp Insurers Investing in Tech for Ops Efficiencies, Underwriting Insights, and Product Dev

Boston, MA – In a fragmented market with high sensitivity to state regulation, workers’ compensation insurers are looking to maximize profits through operating efficiencies, underwriting insights, and product development. Top priorities to meet current and near-future challenges include improved agent portals, core system replacement, implementation of business intelligence capabilities, and growing use of specialized components. In its latest report, Business and Technology Trends[Continue Reading]

Former Commissioner of the U.S. Bureau of Labor Statistics to Open 2018 WCRI Conference

Cambridge, MA – The Workers Compensation Research Institute (WCRI) recently announced that Dr. Erica L. Groshen, former Commissioner of Labor Statistics and head of the U.S. Bureau of Labor Statistics, will be the opening speaker at its 34th Annual Issues & Research Conference, March 22 and 23, 2018, at the Westin Copley Place Hotel in Boston, MA. “We’re excited to have Dr. Groshen open WCRI’s annual conference―our biggest event of the year,” said John Ruser, WCRI’s president…[Continue Reading]

WCRI Study: CA Sees Steady Decrease in Medical Payments per Workers’ Comp Claim

Cambridge, MA – Medical payments per workers’ compensation claim with more than seven days lost time in California have decreased steadily since the enactment of reform legislation in 2013, according to a recent study by the Workers Compensation Research Institute (WCRI). The study, CompScope™ Medical Benchmarks for California, 18th Edition, examined medical payments, prices, and utilization in California and compared them with 17 other states over a period from 2010 through…[Continue Reading]

New WCRI Study Examines Key Metrics and Performance of NY Workers’ Comp System

Cambridge, MA – The Workers Compensation Research Institute (WCRI) recently released a new tool for policymakers and system stakeholders to track the performance of the New York workers’ compensation system. “Originally established to monitor the system following reforms in 2007, the report has evolved into a tool for tracking key metrics of system performance on an ongoing basis,” said Ramona Tanabe, WCRI’s executive vice president and counsel. “This regular monitoring helps…[Continue Reading]

John Degnan Named AIA President and CEO

Washington, DC – The American Insurance Association (AIA) issued the following statement announcing the selection of John Degnan as the association’s new president and CEO. Following AIA’s board of directors meeting on November 8, 2017, Degnan will assume his new role. Degnan, a former New Jersey Attorney General and vice chairman and chief operating officer of The Chubb Corporation, most recently served as the chairman of the Port Authority of New York and New Jersey. “John Degnan…[Continue Reading]

CWCI: Despite Risks, Most WCMSA Plans Include Funds For Long-Term Opioid Use

Oakland, CA – Nearly 70% of federally mandated and approved Medicare settlements for injured workers require funding for decades of opioid use, often at dangerously high levels and in conjunction with other high-risk drugs. Such a requirement exceeds federal and state clinical guidelines and places patients at high levels of risk. Workers’ Compensation Medicare Set-Aside (WCMSA) plans are required to set up reserves to cover Medicare beneficiaries’ future medical care for injured workers who are or will…[Continue Reading]

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