Chicago, IL – Now in its eighth year, the Workers’ Compensation Benchmarking Study’s 2020 annual claims management survey is underway, examining new industry differentiators.
The 2020 research, guided by an Advisory Council of senior workers’ compensation executives, will investigate how claims organizations are addressing the priorities and challenges identified by frontline claims staff in the study’s 2019 survey. Industry opportunities identified by the 1,200-plus frontline participants include greater initial and ongoing training, better understanding of advocacy-based claims models, enhanced technology utilization to reduce administrative burden, and increased consideration of benefits revealed as most valuable to them.
“For the first time, claims leaders will be asked to respond to the direct and quantified viewpoints expressed in a largescale, industrywide talent survey,” says Rachel Fikes, chief experience officer and study program director at Rising Medical Solutions. “Given that frontline staff manage a total economic outlay of nearly 100 billion in workers’ compensation benefits paid each year, how payers are responding to this critical talent pool’s perspectives will uncover yet another key differentiator in what makes for a higher performing claims organization.”
The 2020 study will also examine the impact of COVID-19 on workers’ compensation claims management. This new line of inquiry will 1) assess how the pandemic is affecting claims operations, and 2) discover the differentiating practices used by high performing organizations to support employers, injured workers, and claims staff during this extraordinary time.
“Identifying the industry’s ability to adjust service delivery and adapt to national workforce disruption has immediate application,” says Fikes. “It also has future application for any new disruptors that may require sweeping business continuity measures.”
The study invites all claims managers, directors, and executive-level leaders who oversee workers’ compensation claims operations for payer organizations to take the 2020 confidential survey. The survey will remain open throughout the month of August and into early September.
Study participants will receive a copy of the 2020 Study Report which is expected to be published in the fourth quarter. As in prior years, the 2020 Report will be available to all industry stakeholders without cost or obligation as a contribution to the workers’ compensation industry. It may be pre-ordered here.