Editor's note: Russ Johnston, is president, Casualty Americas, AIG
There is good news and bad news for employers of nearly 3.1 million Americans who will be hurt on the job this year: The number of worker injuries has steadily declined over the last few years, but the severity of injuries has increased and medical costs are rising.
According to the National Council on Compensation Insurance, the cost of medical services, including office visits, emergency-room care, and prescription medication, now constitutes almost 60% of workers' compensation claim costs, up from about 40% in the early 1980's. So why do employers, insurers, and clinicians continue to treat worker injuries in isolation without treating the larger system of care?
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