Thank you, California Workers' Compensation Institute. Due to its diligence and foresight, we now know:
Kudos to the fine folks at CWCI. They have produced the first data-based report on all things COVID. It is quite user-friendly, highly credible and interactive, allowing users to analyze California-specific COVID and non-COVID claims.
The tool enables comparison by industry, body part, nature and cause of injury, class code and region for claims (both filed claims and accepted claims) with dates of injury from Jan. 1 to June 30.
The tool also allows users to compare actual claim counts for the same time period in 2019 to current and projected counts for 2020.
Claim count, dear readers, is WAAAAAY more important than the rather minor financial impact COVID claims have had on workers’ comp. As I’ve reported previously, work comp COVID claims to date are not expensive. Despite the prognostications of others, it is unlikely, indeed, that COVID’s costs will have any material impact on work comp financials.
What WILL have an impact — and a very positive one — is the massive drop in total claim counts we’ve seen so far this year.
Yeah, I know, this is California-specific, and only for half a year, and not fully developed, and all that stuff. I also know a 36% drop in total claim counts is the biggest thing to hit the workers’ comp industry in ... forever.
What does this mean to you?
Everything.
Joseph Paduda is co-owner of CompPharma, a consulting firm focused on improving pharmacy programs in workers’ compensation. This column is republished with his permission from his Managed Care Matters blog.
May 5-8, 2024
Amplify Your Impact There’s no limit to what you can achieve when you join the global risk managem …
May 13-15, 2024
Join us May 13–15, 2024, for NCCI's Annual Insights Symposium (AIS) 2024, the industry’s premier e …
May 13-14, 2024
The Board of Managers is excited to announce that the CSIA 2024 Annual Meeting and Educational Con …
No Comments
Log in to post a comment