States with no workers' comp fee schedules for professional services saw higher prices paid, ranging from 44%-179% above the median, when compared with states that had a fee schedule during 2020, according to the Workers Compensation Research Institute (WCRI). Further, states with no fee schedule saw faster growth in prices paid, the institute reported. The median growth rate for prices paid in no-fee states was 37% from 2008 to 2020, compared with the 9% median growth seen in states with fee schedules. In addition to differences between fee and no-fee locales, prices paid for similar services vary significantly across states. For example, prices paid in Florida are 29% below 2020's national median, while Wisconsin saw prices 167% higher than the 36-state median, WCRI reported. The updated medical price index comes on the heels of research from AdvisorSmith that found workers' comp costs are the highest in New Jersey, averaging $1,415 per employee annually. On the other end, North Dakota sees the lowest average annual per-employee cost, coming in at just $376. The above slideshow, based on WCRI's updated medical price index, highlights states that had considerable price changes (10% or more) as a result of changes to fee schedules and other regulations. "The study shows how prices paid for these services compare across states, how the prices have changed, and whether price growth is part of a broader phenomenon or unique to a state. The study also discusses the price comparison results and price trends in relation to the principal policy mechanism for regulating prices — fee schedules," Ramona Tanabe, WCRI's executive vice president and counsel, said in a release. The study, which covers 36 states that represent 88% of workers' comp benefits paid in the U.S., focuses on professional services (evaluation and management, physical medicine, surgery, major and minor radiology, neurological testing, pain management injections, and emergency care) billed by physicians, physical therapists and chiropractors. Related: |

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