Cambridge, MA (PRWEB) December 10, 2012
The average cost of a workers’ compensation claim in Indiana grew rapidly in recent years, mainly driven by the high price of medical care, according to a new study, Benchmarks for Indiana, CompScope™ 13th Edition, by the Workers Compensation Research Institute (WCRI).
“The study will help policymakers and other stakeholders understand how the Indiana workers’ compensation system measures up with other states and will serve as an invaluable tool in making system improvements,” said Ramona Tanabe, WCRI’s Deputy Director and Counsel.
The study found that medical payments were the major factor behind rising workers’ compensation claim costs, which grew 7 percent per year from 2005 to 2010. In spite of these increases, overall costs per workers’ compensation claim were 12 percent lower in Indiana compared with the typical state in the 16-state study.
Among the study’s other findings:
The study benchmarks the performance of the workers’ compensation system in Indiana, as well as in 15 other states, focusing on income benefits, overall medical payments, costs, frequency of benefits, duration of disability, litigiousness, benefit delivery expenses, timeliness of payment, and other metrics.
For more information on this study or how to purchase it, click on the following link: http://www.wcrinet.org/result/bmcscope_multi13_IN_result.html.
The Workers Compensation Research Institute (WCRI) is an independent, not-for-profit research organization based in Cambridge, MA. WCRI was founded in 1983 and is recognized as a leader in providing high-quality, objective information about public policy issues involving workers' compensation systems. WCRI's members include employers; insurers; governmental entities; managed care companies; health care providers; insurance regulators; state labor organizations; and state administrative agencies in the U.S., Canada, Australia, and New Zealand.