The squeeze on workers' compensation costs has been dramatic, with medical benefits on lost-time claims tripling since 2003, according to the National Council on Compensation Insurance (NCCI), a U.S. rating and data collection bureau.
Informed claims management can help ease the pressure. The use of data access and standards provides structure that enables payors to better manage costs while delivering improved service to injured workers and their employers.
With informed claims management, payors such as carriers, TPAs or self-insured companies, can tap into pooled information and databases that are widely available and easily shared. They also gain newfound access to data such as processed medical bills that many have gathered but had limited opportunities to use.
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