Insight, analysis & opinion from Joe Paduda
Finishing up the second survey report on the impact of COVID19 on workers’ comp and one takeaway has me shaking my head. There’s a lot more fear and trepidation about presumption than I think is warranted. Across the 24 payers … Continue reading Work comp is worried about the wrong thing.
Read More...It’s been a not-fun week – but far better here in rural America than a lot of other places…Here’s a few of the better memes I came across. Science marches on! For those who remember old movies…and why our kids … Continue reading Friday funday
Read More...After 28 calls with workers’ comp execs over the last 8 days it’s quite clear many are very concerned about specific issues. Premiums With payrolls plummeting, small businesses closed and many not likely to re-open, and many governmental entities under … Continue reading What’s keeping workers’ comp execs up at night
Read More...Four months into the COVID pandemic, early data show workers’ comp insurers are doing the right thing. Two data sources support this assertion – CWCI’s just-released analysis of 1,077 California claims and a dozen conversations I’ve had with insurers, large … Continue reading Hey legislators…don’t do stupid stuff
Read More...And that has big implications for private insurance and workers’ comp. An insightful piece by Milbank Fund President Chris Koller details the carnage (Chris and I serve on Commonwealth Care Alliance’s Board of Directors). Total healthcare spending in March was … Continue reading Hospitals and medical practices are losing billions.
Read More...Hospitals are drowning in red ink. In many states, workers’ comp is the lifeline. Privately-insured patients are avoiding hospitals while those facilities have spent huge dollars to buy PPE, make modifications, and ensure they are ready for a COVID19 patient … Continue reading It’s the facility costs, folks.
Read More...Apologies for not getting this out sooner; wanted to wait until I heard back from NCCI on a couple items. Quick hits Insurers are enjoying record profits. Frequency is down again – continuing a 30+ year downward trend. Medical costs … Continue reading NCCI – quick hits, a deeper dive, and a critique
Read More...As the coronavirus continues its relentless march, hospitals and health systems are getting crushed. With elective procedures banned in many states, the profitable patients hospitals relied on to generate profits have disappeared. Meanwhile, expenses related to preparing for COVID19 patients … Continue reading Watch those facility costs…
Read More...That depends on when we: a) can reliably tell people if they’ve been infected, and b) know that those who have been infected are immune. Let’s take these in order. How do you know you’ve been infected with coronavirus? Outside … Continue reading When can we re-open?
Read More...Research published in HealthAffairs a study estimating COVID19 will cost somewhere between $164 billion and $654 billion. Insurance industry trade group AHIP’s financial analysts calculate private insurers will pay between $56 to $556 billion for COVID19-related costs. Kaiser Permanente in … Continue reading We don’t know &^%$*(
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