Today’s issue of WorkCompRecap features the California WCRIB’s release of its Senate Bill No. 863 WCIRB Cost Monitoring Report – 2015 Retrospective Evaluation, which includes an updated retrospective evaluation of the cost impact of many of SB 863’s provisions.
Based on its most current data, the WCIRB has estimated SB 863 has created an annual net savings of $770 million, or 4.1% of total system costs. Other interesting findings included that eliminating double payment for spinal surgical implants is saving even more than projected, over $25k (28%) per procedure, lien provision savings were still unclear, and the frequency of IMR requests through Q3 2015 remains far above projected levels.
Find out more (including a link to the free report!) by clicking here!