Workers’ Compensation Industry Faces Administrative Overload as Technology Transformation Lags featuring Rising's Work Comp Benchmark Study | Risk & Insurance | Aug 2025

August 11, 2025 – New research from Rising Medical Solutions reveals nearly half of claims professionals spend at least 30% of their time on administrative tasks, highlighting need for digital solutions. The study identified three critical challenges facing the workers’ compensation sector.

Read Full Article on Risk & Insurance

Comp ‘Routine Tasks’ Have Led to More AI in Industry: Study featuring Rising's Work Comp Benchmark Study | Business Insurance | Aug 2025

August 6, 2025 – Forty-six percent of workers compensation claims professionals spend as much as 40% or more of their time on routine tasks, with 23% saying they allocate just as much time to regulatory compliance, according to research published Wednesday by Rising Medical Solutions.

These numbers have led more claims organizations to seek technological approaches to managing claims, the study found. As of 2023, 37%  of claims organizations are using as many as six technology “systems” to help manage claims, up from 28% in 2019; 18% are using seven or more as of 2023, up from 14%.

Read Full Article on Business Insurance

Technology Helps Manage ‘Mega Claims’ in Comp: Experts featuring Rising CEO Jason Beans | Business Insurance | Dec 2024

December 18, 2024 – The construction industry and comorbidities are two areas of concern in the workers compensation industry, which is grappling with a rise in so-called mega claims, according to experts who say technology is working to help curb runaway costs.

Costs associated with catastrophic workplace injuries that cost more than $2 million represent less than 0.1% of workers compensation claims but account for up to 2% of all costs to insurers, according to a report released Dec. 5 by the National Council on Compensation Insurance.

Read Full Article on Business Insurance

Claims Industry Sees Rise in New Employees, More Use of Tech: Report featuring Rising's Work Comp Benchmark Study | Business Insurance | Oct 2024

October 30, 2024 – The workers compensation sector is attracting more employees new to the industry, training them more and giving them more access to technology, according to Rising Medical Solutions LLC’s benchmarking study released Wednesday.

Based on 2023 data, the latest report is the 11th edition of the annual report and is based on responses from about 1,300 claims professionals, the Chicago-based managed care company said.

Read Full Article on Business Insurance

Medicare Set-Aside Reporting Rule Signals Major Change for Comp featuring Rising CEO Jason Beans | Business Insurance | Jun 2024

June 5, 2024 – Employers, insurers and claimants should start planning for changes to how Medicare’s liabilities are accounted for in workers compensation settlements, experts say.

The changes, which will remove the reporting threshold in settlements that include Medicare set-asides and define penalty amounts, could increase the likelihood of significant fines for noncompliance and prolong settlement negotiations, they say.

Read Full Article on Business Insurance

Cost Rises Linked to Health Care Consolidation featuring Rising CEO Jason Beans | Business Insurance | Feb 2024

February 5, 2024 – The acquisition of physician practices by large hospital systems is having an adverse effect on states’ workers compensation systems, experts say.

While proponents of so-called “vertical integration” in health care say the practice benefits consumers by delivering care more efficiently, workers comp researchers say consolidation drives up pricing due to decreased competition and can have a negative effect on return-to-work outcomes. And the efficiency argument, they say, relates to administrative efficiency, not patient care efficiency.

Read Full Article on Business Insurance