Workers’ Comp Outlook

 

The past few years have been challenging in workers’ compensation. Medical care inflation is estimated to increase 4.2% in 2011 and will likely outpace general inflation. This suggests there will be continued pressure on medical severity and an aging workforce will further affect medical costs. While many anticipate economic recovery over the next 12-24 months, employers are still looking for new ways to get ahead of claims costs. To better understand the issues of last year and to gain future insight, CorVel sponsored a survey of industry professionals and this is a summary of the responses. We thank the participants of our survey and hope this report is informative and insightful.

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