Survey Results: The Future of Technology in Workers’ Compensation
The workers’ compensation industry in general has been conservative about adopting new technologies. However, as we start 2018, it is clear that technology is going to play an even bigger role in our market than ever. In fact, with rising health care costs, changing regulations and the need to create operational efficiencies, the industry cannot afford to not adopt these new technologies.
Audit, Audit, Audit: Why You Should Further Scrutinize Workers’ Compensation Bills
3 MIN READ
It’s very easy for payors to end up overpaying on medical bills. Auditing – a crucial but often forgotten or under-executed part of the claims process – can help payors identify questionable billing practices and prevent overpayment on workers’ compensation claims.
ICW Group Reduces the Pain of Recovery with Surgery Concierge Service
ICW Group Insurance Companies is the largest group of privately held insurance companies headquartered in California. Quoting more than $3 billion annually, ICW Group represents a group of carriers offering property, auto and workers’ compensation insurance. The company is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims. It is also a leading advocate of high-touch customer service, particularly in supporting injured workers.
Corporate Responsibility: How Employee Engagement and Community Engagement Go Hand-in-Hand
Employee engagement is a top priority for every human resources executive, and for good reason. According to a PWC study, employees who are committed to the companies they work for put in 57 percent more effort and are 87 percent less likely to resign. Despite these powerful statistics, Gallup reports that only about one third of U.S. workers are engaged at work.
When, Why, and How to Use Nurse Review on Third Party Medical Claims
When third party auto casualty claims are extremely complex, for example, when multiple providers are treating a claimant, the claimant has pre-existing conditions or the claim has been open for an extended period of time, insurance carriers benefit by bringing in medical professionals to perform claim reviews. An organization of trained nurses can be an invaluable tool in a third party adjusters’ toolbox.
Why Transparency in Healthcare is Important: FAIR Health Methodology
Having access to a database with a transparent methodology for deriving provider market rates and insurance information serves as a valuable asset in the P&C industry for organizations largely involved in the healthcare market. Healthcare claims data is integral in helping identify and monitor trends in the healthcare market.
Workers' Compensation Medical Price Index: Q2 2017
2 MIN READ
The National CPI for All Services as reported by the Bureau of Labor Statistics in August 2017 is 120.9, which reflects a 1.7 percent decrease since Q1 2017. For the same period of time, Q1 2017 to Q2 2017, the National Workers’ Compensation MPI decreased 2.8 percent and as August 2017, sits at 110.7. Since Q1 2006, the MPI has increased 10.7 percent while the National CPI for All Services increased 20.9 percent.
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