A new A.M. Best survey demonstrates a growing number of workers’ comp insurers are fighting back against rising injury severity by using predictive analytics to lower claim and fraud costs. Rising’s 2017 Workers’ Comp Benchmarking Study was cited in support of A.M. Best’s findings, with our own survey data showing increased adoption of predictive analytics among claims organizations in the past three years.
Industry journalist and consultant, Peter Rousmaniere, uses data from Rising’s Workers’ Compensation Benchmarking Study to discuss how Artificial Intelligence (AI) can help the workers’ compensation industry. In the article, he shares how AI can go beyond prediction to help payers remove errors in their claims management processes.
The highest percentage of claims leaders (46 percent) surveyed in Rising’s 2017 Workers’ Compensation Benchmarking Study believe adjusters become expert at claims management within four to six years on the job. This begs the question, what makes a claims expert and how do adjusters become one? In this short report – Do “10,000 Hours” Make a Great Claims Professional? How Claims Teams Can Achieve Peak Performance – we feature expert interviews from Albertsons, Sedgwick, Daimler Trucks North America, and industry consultants to investigate strategies for mastery development and to provide claims leaders with a practical guide for improving workplace performance. >> Five minutes to read.
As many as a quarter of serious workers’ comp claims — those with more than 30 days of lost time — involve a misdiagnosis or inappropriate treatment, according to a report by Best Doctors. Anne Kirby, Rising’s Chief Compliance Officer & VP of Care Management, comments on the report’s findings and the use of physician reviews as an effective tool for addressing misguided care.
Making health insurance viable for everyone means treating it like other forms of personal insurance. In his Risk & Insurance Risk Insider column, Rising CEO Jason Beans outlines strategies for restructuring the Affordable Care Act (ACA).
Claims leaders rank psychosocial issues as the number one barrier to successful claim outcomes according to Rising’s 2016 Workers’ Compensation Benchmarking Study survey. In this short report, co-authored by study program director Rachel Fikes and industry journalist Peter Rousmaniere, we show how claims advocacy principles at The Hartford, CNA, Nationwide, and Albertsons are taming the adverse effects of psychosocial issues and coaching injured workers to recovery and claim resolution. >> Five minutes to read.
Even as the nation’s 50 states inch towards consistency in medical treatment guidelines for workers’ compensation injuries, the role of risk managers in enforcing them is still unclear. Rising CCO and VP of Care Management Anne Kirby shares her thoughts, along with other industry experts from Marsh, ODG, Optum and more.