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Annual Workers' Compensation Benchmarking Study Releases 10-Year Industry Report Card, Reveals Claims Management Progress & Performance Differentiators
News provided byRising Medical Solutions LLC
Sep 18, 2023, 6:00 AM ET
CHICAGO, Sept. 18, 2023 /PRNewswire/ -- Since 2013, Rising Medical Solutions' annual Workers' Compensation Benchmarking Study has surveyed more than 3,600 claims leaders and frontline claims professionals on their top operational priorities, challenges, and opportunities, as well as their strategies for improving claim outcomes.
Now, with the release of its tenth Study Report, this national research program reveals the trajectory of how claims management has (or has not) progressed over the past decade––ultimately delivering a 10-year industry report card.
"Reflecting on the challenges and opportunities claims organizations have faced over the past 10 years, it may seem like 'everything and nothing has changed,'" says Rachel Fikes, chief experience officer and program study director at Rising Medical Solutions. "But, by reprising survey questions used since the study's inaugural publication, a clear picture emerges of the industry's claims management advancements as well as entrenched obstacles. Examining this rich, year-over-year data repository not only enables us to identify key trends, it also helps us forecast where the industry is headed."
The latest study Report draws upon survey research conducted with claims leaders in the fall/winter of 2022. In addition to quantifying industry progress, the 2022 Report identifies how high-performing claims organizations distinguish themselves across 30-plus data variables to surpass trendlines and less successful peers in navigating persistent industry challenges. Significant performance differentiators include:
- Identifying and addressing behavioral health/mental health issues
- Providing staff training on empathy and other soft skills
- Measuring injured worker satisfaction as a key metric of claims management effectiveness
- Harnessing performance-based strategies with staff and vendor partners
- Employing workflow automation and predictive and prescriptive analytics
As in prior years, the 2022 Report will be available to all industry stakeholders without cost or obligation as a contribution to the workers' compensation industry. It may be requested here.
About the Workers' Compensation Benchmarking Study
The Workers' Compensation Benchmarking Study is a national research program examining the complex forces impacting claims management in workers' compensation today. The study's mission is to advance claims management in the industry by providing both quantitative and qualitative data. Through survey research with claims leaders and practitioners nationwide, the program generates actionable intelligence for claims organizations to evaluate priorities, challenges, and strategies amongst their peers. Conceived and directed by Rising Medical Solutions, the ongoing program is a collaboration of industry executives representing diverse organizational perspectives, including the Study's Principal Researcher and Advisory Council:
- Denise Algire, Director of Health, Albertsons Companies
- Melissa Burke, PharmD, VP, Head of Client Experience, AmTrust Financial Services
- Tyrone Spears, Chief, Workers' Compensation Division, City of Los Angeles
- Ben Tebo, JD, VP, Creative Risk Solutions
- Thomas Stark, RVP, Commercial Lines, Encova Insurance
- Sharon Scott, VP, Medical Programs, ESIS
- Freddy Mistry, AVP, Gallagher Bassett
- Helen Weber, AVP, Head of Medical Strategy, The Hanover Insurance Group, Inc.
- Adam Seidner, MD, Chief Medical Officer, The Hartford
- Victoria Kennedy, VP, Workers' Compensation, Linea Solutions
- Jaclyn Tiger, Sr. Director, Claims, Workers' Compensation, Markel
- Scott Emery, Executive Claims Analyst, Markel
- Thomas Wiese, VP, Claims, The MEMIC Group
- Michele Fairclough, Medical Services Director, Montana State Fund
- Molly Flanagan, AVP, Workers' Compensation Claims, Nationwide Insurance
- Marcos Iglesias, MD, VP, Chief Medical Director, Travelers
- Linda Butler, Director, Claims Management, Walt Disney World Resort
- Brian Trick, Sr. Director, Employee Health & Claims Services, Wegmans Food Markets, Inc.
About Rising Medical Solutions
Rising Medical Solutions (www.risingms.com) is a national managed care firm that provides medical cost containment and medical care management services to the workers' compensation, auto, liability, and group health markets.
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SOURCE Rising Medical Solutions LLC
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