Five years of polling more than 1,700 workers’ comp claims executives has uncovered what separates the top 24 percent of claims organizations from the rest. Survey findings of the Workers’ Compensation Benchmarking Study show how higher performers outpace lower performers up to 10 times more in their use of certain key practices, including how they measure their core competencies, develop claims talent, leverage information technology and manage medical care. These results are now summarized in a new white paper – How to Close the Claims Performance Gap.
Claims executives will find the white paper useful in reviewing their workers’ compensation operations, and identifying key areas to deploy resources. Self-insurer executives will find the white paper useful in reviewing either their in-house claims programs or their third party administrators. The white paper can also be used in drafting RFPs for claims management.
The principal researcher for the Benchmarking Study is Denise Zoe Algire, Director of Risk Initiatives and National Medical Director of Albertsons. Co-authoring the white paper is Rachel Fikes, a senior executive of Rising Medical Solutions and the Study’s program director, and Peter Rousmaniere, a consultant and journalist in the field of workers’ compensation.