WOODSTOCK, Vt.--(BUSINESS WIRE)--A new investigative report uncovers trends that show that the $85 billion workers’ compensation industry is shrinking and suggests that only the creative and diversified will prevail.
“Seismic Shifts: An Essential Guide for Practitioners and CEOs in Workers’ Comp,” has been carefully researched and written by Peter Rousmaniere, a journalist and consultant. The report can be downloaded without charge from WorkCompCentral.
Citing private and government data and extensive interviews, Seismic Shifts documents trends shaping the future of workers’ compensation through 2022. One is the dramatic reduction of injuries with durations of at least 31 days; there were 450,000 such injuries in 1993, there will be 250,000 in 2015 and 175,000 in 2022.
“The work comp industry is shrinking, potentially throwing into disarray individual careers and corporate fortunes,” said Rousmaniere.
Seismic Shifts uses case studies to showcase injury-prevention technology as well as Big Data’s ability to drive high levels of analysis and collaboration in loss prevention, claims management and underwriting.
“Rousmaniere puts the large picture of our industry into perspective, allowing one to plan for the future,” said William Zachry, group vice president of risk management of Safeway/Albertsons.
The paper also reveals a growing market for non-occupational absence management and wellness. Rousmaniere profiles organizations that are diversifying into what he calls the “absence business.”
“Execs who want a greater share of the marketplace need to read Peter’s paper,” said Joe Paduda, principal of Health Strategy Associates. “Smart exploitation of data and reframing disability management will give them a sizeable market advantage,”
Impressed with the paper’s vision, WorkCompCentral’s David DePaolo has interviewed Rousmaniere for a series of four recorded webinars available on WorkCompCentral starting February 24.
Based in Camarillo, Calif., WorkCompCentral is the nation’s only daily publication reporting on the workers’ compensation industry. The company also produces exclusive educational content available through an extensive online continuing education library and can be reached at 805-484-0333 and via www.workcompcentral.com. Follow Founder David DePaolo at http://daviddepaolo.blogspot.com.
A columnist for WorkCompCentral, Peter Rousmaniere has been an entrepreneur, consultant and journalist in workers’ compensation for over 25 years. He holds an MBA from Harvard and can be reached via www.peterrousmaniere.com or email@example.com.