Today’s issue of WorkCompRecap features the release of the Fourth Edition of the Workers’ Compensation Research Institute (WCRI)’s Medical Price Index for Workers’ Compensation report. The study is designed to help system stakeholders understand how prices paid for medical professional services for injured workers in their states compare with other states and know if prices in their state are rising rapidly or relatively slowly.
Highlighted in this particular edition is the effect that medical fee schedules are having on costs. As an example, six states without fee schedules from the study saw prices paid for professional services 27 to 51 percent higher than the median of the study states with fee schedules. These states also displayed more rapid price growth over the study period, with prices rising 32 to 38 percent, compared with the median growth rate of 14 percent.
Find out more (including a link to the free report!) by clicking here!