May 21, 2019 – Chicago, IL – The Workers’ Compensation Benchmarking Study’s annual survey is underway. Now in its seventh year, the 2019 study will – for the first time ever – survey frontline claims professionals (instead of claims executives) to ascertain alignment between industry leadership and staff who directly handle workers’ compensation claims. As the industry’s largest talent constituency, with the greatest influence on financial and injured worker outcomes, visibility into how their views mirror or differ from claims executives will highlight opportunities to advance the entire industry.
February 26, 2019 – Helena, MT and Chicago, IL – Montana’s largest provider of workers’ compensation insurance, Montana State Fund (MSF), is partnering with Rising Medical Solutions (Rising), a national managed care company, to administer its medical bill repricing and provider payment program. After awarding its program to Rising, the partnership became operational in January of 2019.
January 29, 2019 – Chicago, IL – Experts from Rising’s sixth annual Workers’ Compensation Benchmarking Study will share 2018 research results in an upcoming webinar. The discussion will focus on solutions for a key dilemma that threatens effective claims management and organizational viability year after year – ever-escalating medical costs. Entitled “Advancing Medical Management,” this free webinar will take place on Thursday, February 14, 2019, from 1 p.m. to 2 p.m. EST.
This feature article reports on the most promising and realistic medical management strategies recommended in the 2018 Workers’ Compensation Benchmarking Study to help claims organizations reduce ever-growing medical spend. The study’s findings are the result of focus group research with over 40 executives from a national cross-section of self-insured employers, national and regional carriers, state funds, TPAs, brokerages and industry consultancies.
December 18, 2018 – Chicago, IL – Since the Workers’ Compensation Benchmarking Study launched in 2013, claims leaders have consistently ranked medical management as the core competency most critical to claim outcomes. With medical costs representing more than 60 percent of claims costs in many jurisdictions, the study’s Advisory Council recommended the 2018 study further investigate how high performing claims payers are surmounting this top industry challenge.
In this second of two articles, Chief Operating Officer David Huth continues to examine how higher performing claims organizations are combatting key cost drivers along with action steps to replicate their outcomes.
Over the past five years, higher performing claims organizations have adopted practices to better target six key drivers of claims costs. In this first of two articles, David Huth, Chief Operating Officer, examines three of these cost drivers and the proven strategies for impacting them.