Medical Costs for Auto Injury Claims Outpace Inflation, Even as Reported Injuries Become Less Severe
PR Web |
Medical expenses reported by auto injury claimants continue to increase faster than the rate of inflation, in spite of the fact that the severity of the injuries themselves remain on a downward trend. A new study by the
The study examines several factors in the growth in medical care costs, including the shift toward more expensive treatment and diagnostic alternatives as well as dramatic increases in billed charges for visits to many types of medical providers. The use of pain clinics, attorney involvement, and claim abuse were found to exacerbate the increases in medical care expenses.
“Medical care costs continue to escalate, especially among first-party claimants,” said
The study, Auto Injury Insurance Claims: Countrywide Patterns in Treatment, Cost and Compensation, 2014 Edition, is the seventh of its kind conducted by the IRC collected data on more than 35,000 auto injury claims closed with payment under the five principal private passenger coverages. Twelve insurers, representing 52 percent of the private passenger auto insurance market in the Unites States, participated in the study. The report shows results on injury, medical treatment, claimed losses and total payments, attorney involvement, and the appearance of fraud and buildup.
For more detailed information on the study’s methodology and findings, contact
###
Note to Editors:
Read the full story at http://www.prweb.com/releases/2014/03/prweb11649645.htm
Copyright: | (c) 2014 PRWEB.COM Newswire |
Wordcount: | 524 |
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News