More streamlined approval process: With new oversight at the FDA, experts are predicting speedier approval of new generic drugs, digital health software, medical devices and other technologies and treatments that will need to be incorporated into workers’ comp-related bill payment and claims programs.
Potential for legislative reform: In a number of states, significant activity in health care legislation is expected. Florida may fix the plaintiff attorney fee caps that were found to be unconstitutional two years ago. Pennsylvania is dealing with the evaluation of its workers comp statures that were found unconstitutional last year. And in Illinois, an election year for the governor’s office means workers’ comp reform battles between the Republican governor and the Democrat-controlled legislature.
Potential for cyber threats: Health systems locally and on a global scale were hit by ransomware in 2017, and that trend is sure to increase in the coming years as hackers become bolder and technology advances. Also, patient data hacks have resulted in medical device malfunctions and delays in treatment. These and other cyber crimes put workers’ comp payers, service providers and stakeholders at risk.
If your organization is involved in the workers’ comp realm, these are among the many complex issues you need to consider. If you want to remain compliant, secure and profitable in the coming year – and years – you need to rely on an experience workers’ comp services provider, one that has the unique combination of decades of experience in BPO combined with continually evolving, leading-edge technology. That’s how you can keep pace with the changing face of the workers’ comp industry and, what’s more, profit from those changes.