Insight, analysis & opinion from Joe Paduda

< Back to Home

Dec
11

Comp medical costs on the rise

The latest report from WCRI shows medical costs in Indiana have been rising rapidly over the last few years, driven by facility cost increases.  This comes as no surprise, as facilities’ increasing leverage and ability to raise prices has been affecting comp in many states.

This comes on the heels of a similar report on Virginia and news of a significant rate jump in New Jersey, in large part due to increased medical trend.

Rates are up in the Sunshine State too, and yes, higher medical costs – facility and repackaged drugs – are the driver.

Over the last few years, medical inflation, as reported by NCCI has been pretty much under control.  It certainly looks as if those days are over.

What does this mean for you?

Time to dust off those medical management programs – and update them as well.  Because what worked back in the day will likely not work now.  If it did, you wouldn’t see these cost increases.

 

 


One thought on “Comp medical costs on the rise”

Comments are closed.

Joe Paduda is the principal of Health Strategy Associates

SUBSCRIBE BY EMAIL

SEARCH THIS SITE

A national consulting firm specializing in managed care for workers’ compensation, group health and auto, and health care cost containment. We serve insurers, employers and health care providers.

 

DISCLAIMER

© Joe Paduda 2024. We encourage links to any material on this page. Fair use excerpts of material written by Joe Paduda may be used with attribution to Joe Paduda, Managed Care Matters.

Note: Some material on this page may be excerpted from other sources. In such cases, copyright is retained by the respective authors of those sources.

ARCHIVES

Archives