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New Challenges in Workers' Compensation
Beginning of article
Health-care inflation is becoming a larger part of the workers' comp equation. And that is fundamentally changing the way companies manage and control this expense.
OVER THE PAST 10 YEARS OR so, MEDICAL COST INFLATION HAS altered the makeup of workers' compensation costs from about 60 percent indemnity (payments for lost wages) and 40 percent medical expenses to 45 percent indemnity and 55 percent medical costs. As a result, organizations' ability to manage medical outlays has become a major driver of their success in managing and controlling their overall workers' comp budget. "Healthcare cost inflation is even greater in workers' compensation than in general health insurance," …
