Medical marijuana in America has been a hot topic in the medical field, for good reason. The medical use of cannabis is now available with doctor approval in 33 states and the District of Columbia. An additional 14 states have legal medical marijuana with limited THC content, allowing access to products high in cannabidiol (CBD). [...]
According to the World Federation for Mental Health, one in four adults will experience a mental health issue at some point during their careers. Untreated mental health conditions cost the economy $200 billion in lost earnings each year through decreased work performance and productivity. Depression alone accounts for $11 billion of that sum and affects [...]
Analytics is increasingly becoming one of the most important tools in an organization's arsenal. It can be used to appraise and control risk in underwriting, pricing, rating, claims, and reserving. Predictive analytics can be used to help determine pricing models as well as risk rating by using statistics and probability to determine a client's risk [...]
According to the National Insurance Crime Bureau, workers’ compensation fraud costs employers $30 billion annually and is the fastest growing segment of insurance fraud. While this is especially detrimental to businesses and can cause premiums to rise for all employers, these fraudulent claims can have other wide-reaching consequences, as well. Any amount of fraud increases [...]
Every year, approximately 1.6 million crashes are caused by cell phone use. This translates to one of every four accidents and over 3000 people killed. Distracted driving is actually more dangerous than drunk driving and six times more likely to cause an accident. Texting, talking on the phone, using navigation, and checking yourself in the [...]
In the grand scheme of things, telemedicine is a relatively new concept. With the advent of home and personal telephones, it began as a way of providing access to medical care to individuals who were located remotely or were unable to travel to a physician. Today, telemedicine is increasingly becoming a means of convenient medical [...]
Over the past several years, healthcare costs have risen and, in particular, increased by 4.0% over the course of 2016, according to the Bureau of Labor Statistics. This increase has also affected the cost of workers’ compensation claims. In order to combat these rising expenses, Johns Eastern constantly searches for innovative ways to provide the [...]
Your modification factors can significantly influence your premiums for workers’ compensation. Here is what you need to know about workers’ comp modification factors.
For many organizations, workers' compensation claims can be costly, especially if the claims are not managed well. Here are three tips for employers on managing workers' compensation claims both correctly, and cost-efficiently. 1. Promptly Report All Claims. Effective case management begins with timely reporting of your workers' compensation claim. Generally speaking, the faster an injured employee reports a claim, the smoother the claims process will be. When claims [...]
Selecting the right TPA to meet your organization’s needs is critical to your risk management success, since the TPA will be coordinating essential functions like managing loss reserves, conducting claims investigations, issuing claims payments...