Today’s issue of WorkCompRecap features the California WCIRB’s recent release of the next report from its Industry Profile series, which examines an industry sector in California’s workers’ comp system and provides insights into key characteristics and cost drivers in the industry. This round: the healthcare industry.
Key findings from the report included that as one of the largest industries in the state, the healthcare industry holds over 48,000 workers’ compensation policies, and has operations in five distinct healthcare segments that provide medical care. Those segments generate 6% of ALL workers’ comp premiums in California, and the advisory pure premium rates for the healthcare industry are about 20% below the statewide average. The healthcare industry was also found to have the highest share (41%) of indemnity COVID-19 claims among all industries, more than four times the statewide average.