May 3, 2022 – The workers’ compensation sector remains a relatively stable and profitable segment of the commercial insurance industry, but some claims are getting pricier and concerns over severity are rising.
Nov 3, 2021 – Which has more impact on an injured worker’s recovery – medical care or socioeconomic factors? From an outcomes – and cost – perspective, socioeconomic issues are, hands down, the most significant. In fact, a recent study found that better coordination of medical and social services “improves health outcomes and reduces expenditures by 10 percent annually per person compared to a control group,” according to the latest Workers’ Compensation Benchmarking Study by Rising Medical Solutions.
Oct 15, 2021 – If there’s anything claims organizations have taken away from the last 18 months, it’s this: resiliency against unforeseen events is an absolute necessity.
The most notable unforeseen event in recent history is undoubtedly the COVID-19 pandemic. Though pandemics were understood as potential risks for all organizations, the real-life fallout of the risk in action has exceeded what most could have imagined.
Sep 9, 2021 – Rising Medical Solutions released its annual Workers’ Compensation Benchmarking Study for 2020, with a twist. This year’s study is the first time claims leaders have had the opportunity to respond directly to the perspectives of more than 1,200 frontline claims professionals who participated in the 2019 survey. This focus on the relationship between claims leaders and the frontline staff they supervise is one attribute of organizational resiliency this year’s study sought to highlight; the other is the response to the COVID-19 pandemic, a test of worldwide industry mettle.
May 19, 2021 – The workers’ compensation industry is built on risk aversion and mitigation, yet unpredictable risks and catastrophes are predicted with higher frequency in the future. In her Risk & Insurance Risk Insider column, Rising CXO Rachel Fikes shares top strategies for organizations to normalize discomfort and embed resiliency before the next internal crisis or external shock.
Nov 19, 2020 – As the industry approaches a looming talent crisis, workers’ comp payers might be asking themselves how can they attract more frontline claims professionals to the industry. Read what three members of the Workers’ Compensation Benchmarking Study’s advisory council – from Rising, MEMIC, and The Hartford – have to say as they discuss the study’s data-backed strategies for retaining and recruiting young industry talent.
Nov 11, 2020 – When embracing empathic curiosity in workers’ compensation claims, we gain a better understanding of what is really going on with the injured employee. In her Risk & Insurance Risk Insider column, Rising CXO Rachel Fikes shares how empathic curiosity helps us take better ownership and leadership of the claim.