WCRI Research Examines Lifecycle of Claim
- A study released by the Workers Compensation Research Institute (WCRI) last week offers an in-depth look at workers’ compensation claims lifecycle in New York, focusing on the prevalence and costs of various claim types.
- Among the major findings of the study, permanent partial disability (PPD) claims — which include claims with PPD payments and/or lump sum payments — made up the largest share of total costs per claims in New York, at nearly 70% of the total cost, for 2018-2023 claims.
- Those claims, however, represented a relatively small share of overall claims (15%). Medical-only claims, on the other hand, represented the majority of claims (61%) but only 3% of total costs.
- “The results of this research provide a valuable overview of the types of claims that occur in the New York workers’ compensation system, the costs associated with them, and the timing of key payments, including lump-sum settlements,” said Sebastian Negrusa, vice president of research at WCRI. “This information is useful for stakeholders to gain a more detailed perspective of the system and provides a helpful basis for evaluating future policy decisions.”
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Wisconsin Mutual Acuity Saw WC Premiums Grow More Than 50%
- Acuity Insurance said last week that it increased its workers’ compensation business in 2024, with new business written premium growth for the line of over 50%.
- The Sheboygan, Wisconsin mutual insurer surpassed $3 billion in overall annual revenue for the first time in its 99-year history.
- The insurer’s near 20% growth rate generated more than a half billion-dollar increase in topline revenue, an all-time record.
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Regional WC Provider MEM Advance Mutual Move With Loss Portfolio Transfer
- Regional WC insurance provider Missouri Employers Mutual, or MEM, has completed the transfer of a $350 million portfolio of WC liabilities to St. Louis-based Safety National.
- The liabilities cover the accident year 2023 and previous years.
- The transfer comes as part of MEM’s transition from a state workers’ compensation insurance fund to a private mutual insurance company.
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Consultant Paduda Assesses Hospitals With Lowest, Highest WC Scores
- Health Strategy Associates consultant Joe Paduda last week said that using HSA’s proprietary Workers’ Comp Facility Assessment Tool, the firm created a ranking of all U.S. hospitals for as a workers’ compensation facility.
- The tool is based on hospital scores for Clinical Outcomes, Patient Engagement, Safety, Efficiency, and Relative Price.
- The highest-rated facilities were: Larkin Community Hospital (South Miami, Florida),Park City Hospital (Park City, Utah), and Sharon Hospital (Sharon, Connecticut)
- The lowest-rated facilities were: Sagewest Health Care (Riverton, Wyoming), Gateway Regional Medical Center (Granite City, Illinois), and Coastal Carolina Hospital (Hardeeville, South Carolina).
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Black Lung Program Streamlines Medical Releases for Coal Mine WC
- The Federal Office of Workers’ Compensation Programs has begun exclusively using the newly updated CM-936 (Authorization for Release of Medical Information) form to collect all medical information requests.
- Effective Jan. 20, revised form now accommodates medical releases from any type of medical facility, not just hospitals.
- All references to “Hospitals” or “hospitalization” have been updated to “Facility or Clinic”, encompassing doctor’s offices, medical clinics, urgent care facilities, and hospitals.
- The form has also been modified to capture information for multiple medical facilities – designed to collect the same type of information for up to four different providers utilizing the same signature authority.
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