Cost of Controlling Medical Expenses Grows 5.4% in 2014

The Workers' Compensation Insurance Rating Bureau's report on 2014 losses and expenses shows carriers paid 5.4% more for medical cost containment last year than they did in 2013. But the report also shows the percentage increase in medical cost-containment expenses was lower than in previous years and that carriers might finally be reaping the rewards in terms of decreasing medical costs. Medical cost-containment expenses increased to $471 million last year from $447 million in 2013. The year-over-year increase was the lowest since 2010, whether expressed in raw dollars or as a ...