Rising Releases 2014 Workers’ Comp Benchmarking Study Results

A new nationwide survey of workers’ compensation claims leaders reveals the top operational challenges include a rapidly shrinking talent pool, emerging technology trends, operationalizing performance measures while improving productivity and reducing costs.

Participation in the latest survey was up 57 percent from 2013 providing insight from more than 400 manager, director and executive-level claims leaders compared to 250 in the prior survey.

According to the report, the 2014 study further quantifies how claims organizations focus resources to address substantial hurdles.

Key findings of the study reveal:

• Challenges measuring best practices within top ranked core competencies.

• Training budget remains low or non-existent for future and current talent development.

• Low adoption of 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.

The survey noted that the talent shortage is occurring at all levels, from the claims desk to the C-Suite. The 2014 results revealed a disconnect between staff development goals and actual claims departments with training and development programs.

The main reasons for claims departments’ limited use of provider performance and outcome measures was due to data and system limitations as well as an uncertainty on how to operationalize provider performance measures.

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,” said Jason Beans, CEO of Rising Medical Solutions.