Rising Medical Solutions

Releases 2014 Work Comp Benchmark Study Results
 Nov. 19, 2014

By: www.risingms.com

Earlier this year, workers' compensation claims leaders [including ISIA members] once again participated in a nationwide survey about some of their most pressing operational challenges. Up 57 percent in survey participation from 2013, the confidential results - with insights from over 400 manager, director, and executive-level claims leaders - have now been published in the 2014 Workers' Compensation Benchmarking Study Report.

Top issues confronting claims organizations involve addressing the rapidly shrinking talent pool, grappling with emerging technology trends, and operationalizing performance measures... all while improving productivity and reducing costs.

Strikingly similar to the 2013 Study findings, the 2014 Study reflects an industry facing critical hurdles, many of which are not getting better. Based on 70-plus data points, the 2014 results further quantify how claims organizations focus resources to address these substantial hurdles. Key findings reveal:

  • Challenges measuring best practices within top ranked core competencies
  • Declining investment in current and future talent development
  • Low adoption of disruptive technologies, such as predictive analytics
  • Continued obstacles with claims system integrations
  • Limited use of outcome measures and risk/reward strategies to propel top performance from internal staff, vendor partners and medical providers.
  • Observed impact of the Affordable Care Act on claims

"With so many priorities and complex industry requirements, how do claims leaders identify the initiatives that will generate the greatest ROI and drive the most value," asks principal study researcher, Denise Zoe Algire, Director, Managed Care & Disability, Corporate Risk Management for Safeway, Inc.

Says Jason Beans, CEO of Rising Medical Solutions, the founder and publisher of the study, "Every day we see the competing demands placed on claims organizations. Together, with the industry's considerable involvement, we're building benchmark data to support these organizations as they make strategic resource allocation decisions in a tough environment."  

Among the key industry supporters and advisors are the nearly 20 workers' compensation executives on the Study's Council, including:

  • Gale Vogler, Director, Managed Care | Acuity Insurance
  • Raymond Jacobsen, Managing Director | AON Benfield
  • Leann Farlander, Cost Containment Director | Athens Administrators
  • Fred Boothe, VP of Claims Services | BrickStreet Insurance
  • Rich Cangiolosi, VP, Western Region | CCMSI
  • Cathy Vines, Director, Healthcare Cost Containment Strategy | CopperPoint Mutual Insurance
  • Kelly Kuri, Sr. Director, Workers' Compensation | Lumbermen's Underwriting Alliance
  • James Masingill, VP, Claim Operations | Markel FirstComp Insurance
  • Barbara Spain, Sr Counsel - Workforce Management Practice Group | McDonald's Corporation
  • Tom McCauley, Owner & Consultant | Networks by Design
  • Laura Crowe, Risk Management Director | Presbyterian Healthcare Services
  • Mark Walls, VP, Communications & Strategic Analysis | Safety National
  • John Smolk | Principal Manager, Workers' Compensation | Southern California Ediosn
  • Joe McLaughlin, SVP, Sales & Marketing | TRISTAR Insurance Group
  • Kyle Cato, Regional Claims Manager | Whole Foods Market
  • Tim Mondon, SVP, Bill Review | Zenith Insurance
  • Peter McCarron, SVP, Workers' Compensation Claims | Zurich North America

View the 2014 Workers' Compensation Benchingmarking Study Report

About the Workers' Compensation Benchmarking Study
The Workers' Compensation Benchmarking Study, conceived and published by Rising Medical Solutions, is an operational assessment tool for claims organizations to evaluate priorities, hurdles and strategies amongst their peers. The Study provides actionable data from confidential survey results submitted by workers' compensation leaders nationwide. The ongoing Study program is a collaboration of industry executives representing diverse organizational perspectives

About Rising Medical Solutions
For more information, contact Rachel Fikes, VP & Study Program Director, This email address is being protected from spambots. You need JavaScript enabled to view it.; 312.224.5893

Upcoming Events

LegetøjBabytilbehørLegetøj og Børnetøj