For the first time since 1994 workers’ comp medical severity has ticked down about 1% from 2014 to 2015, according to the National Council on Compensation Insurance. NCCI provides the rate making services for 38 states.
NCCI says the decrease is likely attributable to a three percent decline in physician services. Physician services represent approximately 40% of workers’ comp costs in the 2015 accident year. While NCCI doesn’t provide any information on why the use of physician services is down, it still means the cost of claims was less for employers in 2015. If this trend continues, it bodes well for staffing firms in 2016 and beyond. It would be a good time to renegotiate premiums and perhaps consider a new workers’ comp solution that meets your needs.
Visit our web site at www.StaffingCompSolutions.com, call us at 202-302-1212, or email us at david@StaffingCompSolutions.com for more information about all our staffing and workers’ comp offerings.
Sincerely
David Schek
President
StaffingCompSolutions.com