It’s time to integrate workers’ comp and medical plans. Here’s how to do it
Workers’ comp and medical benefits traditionally have been separated, but the costs and inefficiencies of operating two systems to handle worker health have become unsustainable, highlighting the need for an integrated medical and workers’ comp benefits solution. And despite what you may have heard, integration is possible, and preferable.
Direct and indirect costs of workers’ comp claims can be burdensome, amplified by the hassle of having to secure medical care from separate systems simply because of where the injury occurred (on the job). Additionally, treatment provided as part of workers’ comp tends to be more expensive than health plan-covered treatment. Physicians, facilities and pharmacy benefit managers charge workers’ comp payers more for the same services than they typically charge health plans, simply because they offer high volume discounts to the health insurers, which account for 98% of the total medical spend. Medical bill clearinghouses also charge more per bill for workers’ comp bills, for the same reason. Consolidating the two silos into one program that provides members with the best of both worlds reduces costs and provides better service. Read More