Monday, September 27, 2010

Report: Workers' comp medical costs soar - Houston Business Journal:

http://virginport.com/top-10-tips-for-entertaining-job-interviews/
The research also found that those costzs would have been billions more withoutt system reforms earlier this TheCalifornia Workers’ Compensationm Institute, a research organization made up of insureras and self-insured employers, recentlhy released the study on post-reformm changes in workers’ comp medical paymenta in the Golden State. The study is the fourth in a five-par series updating data on claim outcomes following system reforms between 2002and 2004. All the data in the repor t reflect when injuriesoccurred — known as the accident year instead of when an accident was reported.
Since insurance companies’ payments have increased significantltfor treatment, medications/durable medical equipment, medical-legal reportws and medical management, the institute said. Betweemn 2005 and 2007, average medical payments for all claims oneyear post-injurgy rose 23 percent, to $2,582 from $2,100, the study Meanwhile, “average medical payments on more expensive indemnitt claims climbed 28 percent (from $4,443 to the report said. Even though medical costs are the reforms are estimated to have savesd cumulativelybetween $12.8 billion and $25.3 billiob in medical costs between 2004 and 2008.
Some of the medicaol management tools put in place by the reform s were medical treatmentutilization schedule, mandatorgy utilization review, bill review and medicak provider networks. The institute estimates that withouythe reforms, workers’ comp medicalo inflation would have continued at somewherde between 8.2 percent a year — which is half the pre-reforjm annual inflation rate — and 16.4 which is the average annual inflation rate betweeh 1999 and 2002.

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