Today’s issue of WorkCompRecap features the release of Mitchell’s Industry Trends Report (ITR) for the second quarter of 2018. In this edition they examine a couple of key industry trends, including a deep dive into how data analytics are now embedded into most levels of insurance organizations, and how utilization review and precertification can help reduce unnecessary medical expenses.
In the casualty edition of the report, Mitchell notes that medical expenses now average more than 60% of typical claims costs, a trend that doesn’t appear to be going away soon. Expenses incurred for treatments that are unrelated to a worker’s injury can occur for a number of reasons, and Mitchell points out that utilization review, starting with the precertification and using auditing technology can present an effective way to defend against rising medical costs. Also in this edition is a discussion of how drug formularies’ impact state workers’ comp systems from VP of Government Affairs Brian Allen, who covered similar themes in his recent Leaders Speak pieces.
Find out more (including a link to the free report!) by clicking here!