Failing to comply with workers’ compensation data reporting can lead to hefty fines and regulatory risks. This guide explores common pitfalls and strategies insurers can use to prevent costly compliance errors.
Medical Data Call (MDC) reporting is essential for compliance and analytics in workers’ compensation as more insurers are required to participate. The NCCI Data Now 2025 notes challenges insurers face, including data integration and accuracy. By enhancing data capabilities and automation, insurers can streamline submissions, mitigate compliance risks, and gain competitive advantages.
Unit Statistical Reporting (USR) is vital for workers’ compensation insurers, affecting e-mod calculations and compliance. Insurers face challenges like data accuracy and submission timeliness, risking penalties and inefficiencies. The article discusses enhancing data quality, automating reporting, and staying informed on regulations to mitigate risks and transform USR challenges into competitive advantages.
This blog explores the importance of centralized data in risk management, highlighting how unified systems enhance the ability to identify, assess, and manage risks in insurance.
This blog delves into the benefits of centralized data systems in the insurance industry, highlighting their role in improving security and operational efficiency.