ORLANDO, FLA.–Workers' compensation insurers must be more proactive combating rising medical costs, a disability management executive said at the Workers' Compensation Educational Conference, run by the Florida Workers' Compensation Institute.
George Furlong, vice president of client/partner relations at Lakeland, Fla.-based Bunch & Associates, made his comments at a National Trends program session organized by National Underwriter.
Medical costs are rising at a faster rate than lost wage replacement, and both are outpacing the inflation rate, Mr. Furlong warned. Positive developments that have occurred with respect to medical costs have been the result of legislation, rather than industry initiatives, he said.
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