Workers' compensation is more challenging than ever before.Payers are continually navigating a delicate balance betweenensuring injured workers' receive appropriate treatment and costcontainment. Many of the headlines we see related to cost controlsare focused on medical costs. And, while this remains critical,it's also important to bring attention to the costs associated withmanaging indemnity payments.

We all know that indemnity payments play a significant role inclaim costs—anywhere from 40%-60% of expenses associated with aclaim. The actual amount depends on numerous factors ranging fromseverity to how long the claim is open. However, increasingadministrative burdens, workforce dynamics and processing feesassociated with indemnity payments may actually be costing payersmore than necessary.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.