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.
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)
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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