Chicago, IL – Five years of polling more than 1,700 claims executives for the Workers’ Compensation Benchmarking Study indicates only 24 percent of claims organizations are high performers. A new white paper released by the study group – “How to Close the Claims Performance Gap: Top 3 Findings in 5 Years of the Workers’ Compensation Benchmarking Study” – asks, what do the other 76 percent need to do to catch up?
The short report, co-authored by study program director Rachel Fikes and industry journalist Peter Rousmaniere, condenses the study’s multi-year benchmarking data into the top three practices claims organizations should adopt to join their more successful peers, or risk falling further behind.
Providing a clear picture of how outcome-centric activities dominate top claims strategies, the report reveals how high performers outpace lower performers up to 10 times more in their use of certain key practices.
“With so many competencies claims departments are often asked to excel at, it can be difficult to decipher exactly which practices will actually move the needle,” says Fikes. “For those organizations that choose to close the performance gap, the data is clear on how to narrow the divide between average and superior performance.”
Click here to read the free paper: How to Close the Claims Performance Gap: Top 3 Findings in 5 Years of the Workers’ Comp Benchmark Study