“The continued growth of metrics and the ability of lawyers and claims administrators to use those metrics to manage claims and legal spend. Technology in this instance is good and a must to master. It applies to many aspects of claims and litigation management, where vendors are partners in the dissemination of valuable information for mutual benefit.”
Alexander Almazan,
Managing Partner, Almazan Law. CLM Member since 2017.
“I see a potential turning point in 2018. While I expect to see more litigation on benefit adequacy, I also see a movement on the claims management side toward more collaborative care in treating the whole injured worker—a team approach dealing with all facets of care and other needs.”
Brian Allen,
Vice President, Government Affairs, Mitchell. CLM Fellow since 2016.
“Cybersecurity risk management programs in insurance companies will continue to rise in 2018. Federal agencies and the NAIC are moving to establish regulations governing insurers’ conduct. New York is leading the U.S with strict cybersecurity regulations. The first yearly compliance certifications by covered entities to DFS are due Feb. 15, 2018.”
Marie Cheung-Truslow,
Partner, Cheung-Truslow & Uehlein LLC. CLM Member since 2012.
“With more carriers outsourcing claims handling, we expect continued movement in unbundling medical review and legal services. We believe 2018 will yield more choices for employers and carriers seeking custom solutions. Most claims administrators are offering clients more autonomy over high deductible programs and are creating new partnerships to serve injured workers.”
Tony Riccardi, President and Chief Visionary Officer, MedSource National. CLM Fellow since 2016.
240
Number of cybersecurity-related bills or resolutions introduced in at least 42 states in 2017.
Source: National Conference of
State Legislatures
8/28/17
First compliance date for New York State’s sweeping cybersecurity regulation, which, among other measures, sets minimum standards for cybersecurity programs.
Source: N.Y. DFS
3.8%
Percent annual growth of the third-party administrators and insurance claims adjusters industry from 2012 to 2017.
Source: IBISWorld
12.4%
Percent worldwide revenue increase for big data and business analytics from 2016 to 2017. The insurance industry is among those seeing the fastest growth in spending.
Source: International Data Corporation
20%
Percent reduction in the likelihood of being off work and on disability 12 months after injury for patients treated through Washington State’s Centers of Occupational Health & Education.
Source: U.S. Department of Labor