Insights from Our Integrated ERM and Claims Settlement Solutions Practices
RIMS Total Cost of Risk Survey Shows A 5% Increase Since 2012
On July 29, 2103 the Risk and Insurance Management Society (RIMS) reports Total Cost of Risk Increases 5% since 2012. A key finding of The 2013 RIMS Benchmark Survey, released last month, was that the average total cost of risk (TCOR) for all companies increased 5%, from $10.19 per $1,000 of revenue to $10.70 per $1,000 of revenue – the result of hard market conditions.
A Growing Number of Doctors are Refusing Medicare Insurance
Information released by the Centers for Medicare and Medicaid Services (CMS) shows that the number of doctors who opted out of Medicare last year nearly tripled from three years earlier. While the total number of doctors refusing to accept Medicare is relatively low, the trend is likely to continue as Obamacare is implemented. CMS said 9,539 physicians who had accepted Medicare previously opted out of the program in 2012, up from 3,700 in 2009.
The CDC Offers Helpful Tool to Benchmark Chronic Claims
The CDC's Chronic Disease Indicators (CDI) is a useful tool of 97 indicators that were developed to allow states, territories and large metropolitan areas to uniformly define, collect, and report chronic disease data that are important to public health practice. Self insurers can use these tools to benchmark their own data for insights and management. CDI are divided into eight categories that represent a wide spectrum of conditions and risk factors as well as social context including Physical activity and nutrition, Tobacco and alcohol use, Cancer, Cardiovascular disease, Diabetes, Arthritis, Overarching conditions, and Other diseases and risk factors.