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NCCI AIS 2024 – Day One Afternoon Sessions – Top 10 Concepts

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NCCI AIS 2024 – Day One Afternoon Sessions – Top 10 Concepts Learned + Great Keynote

For the NCCI AIS 2024 afternoon session, I switched to a summary form with my comments included in the numbers.  My comments are italicized.

Medical Cost Trends—What’s in the Mix?

25% of all hospitals have closed in the last 20 years –  a  sobering number 

NCCI AIS 2024 Jackson Memorial Hospital pic
Creative Commons License -Jayzze

Raji H. Chadarevian and Jon Sinclair – NCCI Presenters 

  1. The utilization for hospital inpatient stays reduced by 22% since 2012 –  an amazing number
  2. Outpatient surgeries fueled the drop in utilization
  3. Inpatient prices have spiked 50% during the same time period.
  4. Pharmaceutical costs have decreased 24% since 2012 – another amazing number
  5. The pharmacy drop was due to the opioid reduction by the industry and a shift to generics.
  6. Workers Compensation carrier settlements also played a key role

The Future of Workplace Safety Technology

Moderated by: Damian D. England, ARM – NCCI

Panelists: 
Haytham Elhawary, PhD – Kinetic
Aidan Madigan-Curtis, MBA- Voxel

  1. Wearable tech has become popular in the last 10 years. Safety tech became a “thing” over the last decade.
  2. The small wearable pack that was attached to a belt vibrates when someone is not using proper lifting techniques or body mechanics – a possible game changer by Kinetic
  3. The Voxel simulation video showed that AI cameras can monitor every worker’s movement on a factory floor.  The number of measurements was incredible.
  4. Wearable tech should reduce accidents sharply and will not cause anyone to lose their job if framed as part of training not a source of disciplinary actions.

NCCI AIS 2024 Keynote Speaker – The Science of Happiness and How You Can Use It

Arthur C. Brooks | Harvard Professor and Best-Selling Author

Professor Brooks presented one of the best keynotes that I have seen in recent memory.  The audience engagement was noticed from the first minutes of his presentation.  I recommend following the link to his background.  He has published 13 books.  The most recent one was coauthored with Oprah Winfrey.

Happiness is a direction, not a destination. Through qualitative and quantitative research, Arthur identifies science-based evidence on how to transform relationships, increase productivity, and ultimately drive toward happiness.

Striver’s Curse- At age 66 if very successful earlier in life, then you will likely be unhappy.  If a person is less successful earlier in life, then after age 66, you will be happier.

Raymond Kattel – Fluid intelligence peaks at age 39.

Crystallized intelligence increases with age – wisdom, judgment, and teaching ability.

Happiness is properly switching from fluid intelligence to crystallized intelligence- first curve to second curve

Satisfaction =Haves / Wants

Offer up a Reverse Bucket List

Early On build your career, then later in life subtract things away

Don’t go it alone – your true self is not the sum of your achievements.  It is the sum of the love for the people in your life.

The curse of “specialness”, being special does not mean being happy.

Day Two Presentations can be found here.

 

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management 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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