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Free Workers Comp Study – Best Report on Medical Costs WCRI

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Free Workers Comp Study – WCRI Medical Price Index – A Great Reference Tool

WCRI (Workers Compensation Research Institute) released its annual free workers comp study and report on medical prices for the treatment of Workers Compensation injuries.

picture of free workers comp study and beer
Wikimedia Commons – JP

Please see the bottom of this article for the link to the free report.

The breadth and depth of the report astound me as a free publication.  The report covers over 88% of the medical benefits paid in the US.   If you are looking for trending information, the study spans 12 years (2008 – 2019).

WCRI only asks that you give them your contact info.  The group does not spam you after sign-up.   Claims staff could use it as a basis for setting reserves with very little extrapolation of the provided numbers and statistics.  (Hint)

From WCRI:

This annual study creates an index for the actual prices paid for professional services over a 12-year span from 2008 to 2019 based on a market basket of commonly used services for treating workers with injuries. This study also provides a baseline for policymakers and other system stakeholders to observe any effects the current COVID-19 pandemic might have on medical prices in workers’ compensation across states and over time.

The study focuses on professional services (evaluation and management, physical medicine, surgery, major and minor radiology, neurological and neuromuscular testing, pain management injections, and emergency care) billed by physicians, physical and occupational therapists, and chiropractors. It shows how prices paid for these services compare across states, how the prices have changed, and whether price growth is part of a broader phenomenon or unique to a state. The study also discusses the price comparison results and price trends in relation to the principal policy mechanism for regulating prices—fee schedules.

These states covered are Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.

I am downloading the free workers comp study and report as soon as I publish this article at this link. 

 

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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