May 10, 2011
The property and casualty industry today recognizes the 100th anniversary of workers’ compensation in the United States. Since the initial legislation was signed in Wisconsin on May 3, 1911, workers’ compensation laws have adapted to changes in industry, and regulations have grown considerably more complex.
“Workers’ compensation today focuses on assuring that injured workers receive appropriate medical treatment while attempting to manage quality, cost and liabilities,” said David A. George, CEO of Healthcare Solutions. “It is important for companies like Healthcare Solutions to identify and be prepared for the trends that are only beginning to emerge now, and to understand the impact they will have on the industry as they grow.”
Future trends identified in the position paper released at this year’s Risk and Insurance Management Society Annual Conference & Exhibition include:
•Greater use of surgical implants
•Changing demographics of workforces
•Increased regulatory oversight of pharmaceutical practices
•Increased treatment with personalized medicine
•Improved treatment for traumatic brain injury
•Greater use of e-prescribing and digitization of records
•Proliferation of compound and repackaged drugs
•Growth in use of medical foods to treat conditions
•More injuries related to distracted driving
•Advances in bionic implants to restore functions lost to disease or injury
Understanding emerging trends, and taking the appropriate steps to adapt to the changing workers’ compensation environment, will help claims professionals enable injured workers to receive appropriate medical care at the lowest possible cost.
You can read the entire article here.
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