In case you’ve been in a mental daze the past week, it’s 2015. That’s 15 years into Y2K, y’know, that ominous millennium we were all supposed to face a technological Armageddon. Fortunately, we made it through in one piece. A lot of has changed over the course of 15 years; things will continue to change–especially within the legal system. Starting off the New Year, we wanted to share some interesting predictions that we ran across. This isn’t our forecast, so please don’t come chasing after us if any prove right or wrong. We aren’t psychics. As we enter another year of workers’ compensation; let yourself think about the changes we’ve witnessed over the last decade in the industry. Sure, there have been some good, some bad, but our ability to navigate and tolerate change correlates to our future success and well-being as legal professionals. Take a moment to look over the 10 points below from Joseph Paduda, a nationally recognized expert, speaker, media source and author on managed care in group health and in workers’ compensation.
1. Aetna will not be able to sell the Coventry work comp services division
2. Work comp premiums will grow nicely
3. Additional research will be published showing just how costly, ill-advised, and expensive physician dispensing of drugs
4. Several $250 million+ transactions in the work comp services space
5. A bill renewing TRIA will be passed
6. Liberty Mutual work comp changes
7. Regulators will be even more active on the medical management front. Work comp regulators in several more states will adopt drug formularies and/or allow payers/PBMs to more tightly restrict the use of Scheduled drugs
8. Two new work comp medical management companies with significant mindshare
9. Outcomes-based networks will continue to produce much heat and little real activity
10. Medical marijuana will be a non-event
Head over to Joe Paduda’s blog to read the full take on each of his predictions.
Note: This is not an endorsement by MKRS Law, and by re-posting this information we are merely sharing the opinion of an industry professional. These are not our predictions; we do not support or reject any particular points.