What's the fastest rising medical cost today in workers' compensation? It's not hospital services. It's not prescription drugs. It's not physical therapy.
The fastest growing medical expense today is diagnostic radiology. Surprised? You're not alone. Many people do not realize how advances in technology that improve diagnostic decision-making have led to the rapid increase in the use of expensive diagnostic tests such as MRI and CT scans.
According to a report by the Association of Health Insurance Plans (AHIP), almost $100 billion is spent each year on imaging in the U.S. These costs are forecasted to increase 16-18 percent annually -- a rate that is twice that of prescription drugs and faster than overall health-care spending, which is projected to increase at 10 percent a year. In workers' compensation, diagnostic radiology costs are projected to rise 20 percent a year.
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