Chicago, IL – For the past two years, June marked the Workers’ Compensation Benchmarking Study’s national survey of claims leaders, which provided the industry with quantitative benchmarks on 70-plus data points. This year brings a new approach to Rising Medical Solutions’ study program – qualitative research and the publication of an industry Insights Report that will focus on priorities and practical strategies for claims management advancement.
The decision, made with the study’s expert Advisory Council, was based on resounding feedback from claims professionals who have asked exactly how to overcome the widely-faced operational challenges identified in the 2013/14 studies. These challenges include addressing the rapidly shrinking talent pool, grappling with emerging technology trends, and operationalizing claims and medical performance measures — not to mention improving productivity and reducing costs.
“We’re encouraged that the studies have sparked some thought-provoking discussion and that many in the industry want to take that discussion a step further into action and advancement,” says Jason Beans, CEO of Rising Medical Solutions (Rising).
In response, the study program will draw upon collaborations and interviews with claims leaders conducted throughout 2015 to determine what advancements will make the greatest impact, and generate tangible action steps for getting there.
The outcome will be an Insights Report focusing on potent and realistic claims operational strategies that may be considered by payer organizations over the next two to three years. These strategies will include guidance in four key areas of claims management: prioritizing core competencies, talent retention and development, technology and data, and medical performance management.
“Moving the study’s mission forward, from quantifying industry challenges to recommending practical solutions, just makes sense for the program and the industry,” says Rachel Fikes, Vice President and Study Program Director at Rising. “We are grateful to those claims leaders who are lending their time and expertise towards this qualitative initiative.”
The 2015 Insights Report is expected to be published in the fall. Like prior study Reports, the 2015 Report will be available to all without cost or obligation as a contribution to the workers’ compensation community. It may be pre-ordered here.