Now in its eighth year, the 2020 Workers’ Compensation Benchmarking Study will investigate how claims leaders are capitalizing on the 1200-plus frontline staff survey responses from the 2019 study. The 2020 study marks another industry first, as claims leaders have never before had access to such aggregated frontline data upon which to take action. With frontline claims professionals managing a total economic outlay of nearly 100 billion in workers’ compensation benefits paid each year, much is on the line.
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“Our 2019 survey opened a rare window into the viewpoints of frontline claims professionals that went beyond organizational-level employee polling to a national-level, talent market survey across peer organizations,” says Rachel Fikes, chief experience officer and study program director at Rising Medical Solutions. “Frontline staff are the industry’s greatest influence on financial and injured worker outcomes. Compound that with the industry’s mass exodus of senior claims professionals, and it now becomes imperative for organizations to decide how to respond to the perspectives of this critical talent pool –– their marketplace competitiveness depends on it.”
The 2020 study will also examine COVID-19’s impact on claims operations, introducing a new line of inquiry to 1) assess how the pandemic is affecting claims management practices, and 2) identify strategies claims organizations are utilizing to service and support employers, injured workers, and claims staff during these extraordinary times.
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Says Fikes, “Once pandemic status was reached, expanding the original scope of the 2020 study to include COVID questioning was a foregone conclusion. Quantifying the industry’s ability to adjust service delivery and adapt to national workforce disruption not only has unprecedented value in this unprecedented environment, it also has future application for any new disruptors that may require large-scale business continuity measures.”