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White Paper
Creeping Costs: The Rise of Mega Claims in Workers’ Compensation
A small percentage of claims are driving the majority of costs in workers’ comp. What are these “mega claims” and how can we mitigate them?
White Paper Summary
In workers’ compensation, a small group of claims cost in excess of $1 billion each year. These “mega claims” represent less than 0.1% of total workers’ comp claims but account for over 2% of total loss dollars. And according to the National Council on Compensation Insurance (NCCI), these high-dollar claims are increasing in frequency across all industries.
This increase may be due to a variety of factors that contribute to claim severity, from extended recovery times to new medical advances. Let’s look at the genesis of mega claims, what causes them, and how we can use technology to help contain them.
For more content like this from Healthesystems visit their RxInformer clinical journal website.
Healthesystems is a leading provider of Pharmacy Benefit Management (PBM) & Ancillary Benefits Management programs for the workers' compensation industry.
