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Healthcare Is Focus of New Report in WCIRB Industry Profile Series

01 Mar, 2023 Jaime Toby

                               

The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released the next report in its Industry Profile series. This series examines an industry sector in California’s workers’ compensation system and provides insights into key characteristics and cost drivers in the industry. The latest report gives a comprehensive overview of the healthcare industry in California.

The full report is available in the Research section of the WCIRB website and at the following link:

Key findings in the report include:

  • The healthcare industry is one of the largest in California, with over 48,000 workers’ compensation policies, and has operations in five distinct healthcare segments that provide medical care. Those segments generate 6 percent of all California workers’ compensation insurance premiums.
  • The advisory pure premium rates for the healthcare industry are about 20 percent below the statewide average.
  • Hospitals experienced the largest reduction in payroll and the highest increase in indemnity claim frequency among all healthcare segments during the pandemic.
  • The healthcare industry has the highest share – 41 percent – of indemnity COVID-19 claims among all industries, more than four times the statewide average.

WCIRB Research Forum Webinar

The WCIRB will host a free webinar to discuss the WCIRB Industry Profile: Healthcare report. Click on the registration link below to sign up.

WCIRB Industry Profile: Healthcare
Wednesday, March 1, 2023, 10:00 – 11:00 AM PT
Learn the operational characteristics, workers' compensation claim cost patterns and key cost drivers of the healthcare industry in California. This webinar will provide insights to help you better understand the dynamics of this important industry from a workers’ compensation perspective.
Register Now

A recording will also be posted in the Research section of the WCIRB website following the event.

More Information

WCIRB Industry Profile: Restaurants

 

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