NASI just published their latest Workers’ Comp research report - one that A) lacks a shipload of the research in past editions and B) is much less current than previous editions (it provides 2023 data).
You can thank Elon et al for that.
Here’s a few things we’ve gleaned from what’s available.
Medical spend in 2023 was $30.4 billion - indicating a DECREASE in overall medical spend over the last 5 years.
Total benefits paid were $64.1 billion.
43 jurisdictions saw employers’ work comp costs decrease…among those few with increases, the highest was 3.1% (Nevada).
Couple intriguing factoids…
23 percent of ALL medical spend was in California…yup, the Golden State consumed more than one out of every five work comp medical dollars.
Wisconsin had the greatest percentage of benefits paid out for medical - fully 4 out of 5 benefit dollars went to the medical/industrial complex.
The state has consistently seen very high medical expenses…
Washington had the lowest at 25.8 percent - Washington is a monopolistic state with some excellent cost control measures plus
a terrific Pharmacy program,
highly experienced Medical Director and staff
claim dispute resolution isn’t through the courts but rather in L&I hearings; attorney involvement is pretty limited to helping client navigate the process and appealing claim denials - NOT negotiating settlements.
More analysis pending…
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