Tapping the Potential of Our Data Resource

By Art Cadorine, Assistant Vice President, ISO

Skyrocketing premiums and soaring medical costs are a major concern for insurers, self-insureds, and regulators alike. Twenty years ago, indemnity made up 65 percent of workers compensation claims costs. Today, medical payments make up 65 percent of the costs, and that figure continues to grow. The frequency of claims is going down, but the severity is rising. At the heart of the matter lies the $64 million question — “What is driving these costs?” The answers lie in the data.       »more

How Big of a Role Does Medical Utilization Play in Rising Workers Compensation Claims Costs?

Growth in workers compensation medical costs has been much steeper than in the healthcare industry as a whole. Indeed, medical inflation is rising in many states, with the medical malpractice crisis, higher usage of medical services, the cost of new technology, rising prescription drug costs, and many other factors all playing a role. But why such a big difference between the cost of a workers compensation claim and a healthcare claim?       »more

Should Threshold Limitations Apply to EDI Reporting?

Typically, states require carriers to submit first reports of injury (FROI) claims that exceed a specified lost-time threshold and medical-only claims that exceed a certain dollar threshold. But they will not accept any claims that fall short of their minimum threshold. In the world of electronic data interchange (EDI), imposing these reporting conventions is not only burdening carriers, but stripping the state organizations of the many benefits offered by EDI technology.         »more

  

Arthur Cadorine
Assistant Vice President
ISO’s Workers Compensation Information Services