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!