DUBLIN--(BUSINESS WIRE)--The "UK Medico Legal & Insurance Services Market Trends Report 2021" report has been added to ResearchAndMarkets.com's offering.
This report looks at the Medico-Legal and Insurance Services (MLIS) market. This report looks at the market structure, recent developments and market drivers, the key players, the market size and trends and the future.
MLIS are a range of medical and medical-related services offered to legal services companies, insurers and possibly to employers. For this reason, MLIS companies are often staffed and run by doctors, nurses and physiotherapists.
The COVID-19 lockdowns caused a significant decline in personal injury case numbers and a significant slowdown in personal injury case progression, leading to a decline in the medico-legal and insurance services market (MLIS).
The publisher estimates that the market, including payments to individual, freelance and self-employed medical experts and case managers declined by 18% in 2020 compared with 2019. The market is anticipated to fall again in 2021. The premium end of the market i.e., high-value catastrophic injuries - declined but held up better than the rest of the market in 2020 and is expected to return to growth in 2021.
Now that COVID lockdowns and restrictions are coming to an end, the MLIS market is set to recover. The main downsides for the future are the new Whiplash reforms, which are likely to have a net negative impact on the lower end of the market.
Moreover, even if volumes recover, companies operating in this market face a number of challenges, key of which are:
- Continued pressure on margins as competition intensifies, with larger groups growing in market power.
- Potential long-term changes to working practices because of COVID-19 (e.g., some permanent shift to home working, more remote medical assessments and online physiotherapy sessions)
- Greater need for financial resources to invest in new IT systems to improve client and freelance/contractor engagement with MLIS firms.
The range of services offered can be split into two broad categories:
- Medical evidence (ME)
- Rehabilitation and allied medical services (RAMS)
Key Topics Covered:
EXECUTIVE SUMMARY
- A diverse market but larger groups are being formed
- Whiplash reform programme
- Expert witnesses continue to face growing pressures
- A market hit hard by COVID-19
- Market declines by almost 20%
- The market set to recover but the lower end may struggle
INTRODUCTION
- Definition
- Medical Evidence (ME)
- Rehabilitation and allied medical services (RAMS)
- Payment for MLIS services in a legal case
- Abbreviations
MARKET STRUCTURE
- Three client groups
- A wide diversity of MLIS companies
MARKET DEVELOPMENTS AND DRIVERS
- Money and health, the two main drivers of RAMs business
- The financial savings can be very large
- COVID-19
- ABI/ACSO principles
- Lockdowns cut RTAs
- And fewer workplace injuries needing MLIS services.
- Clinical negligence, low in number but high in value
- COVID-19 cuts the number of personal injury claims going through the Courts
- Personal injury court cases in Scotland and new Personal Injury Court
- Whiplash reform programme
- Being an expert witness is not getting any easier
THE KEY PLAYERS
- 47 MROs
- The market is now led by larger groups
- Exam Works UK (Premex)
- Kuro Health (formally Premier Medical Holdings Ltd)
- Handl Group (FL360 Group)
- Active Care Group
- IPRS Group/IPRS Health
- Bodycare Clinics Ltd/Doctors Chambers (UK) Ltd
- Health & Case Management Ltd (HCML)
- RE: Cognition Health Ltd
- A Chance for Life Ltd
- On Medical Ltd (Winn Holdings)
- Independent Living Solutions Limited
- Innovate Healthcare Management Group
- MAPS Medical Reporting (Medical and Professional Services Ltd)
- Proclaim Group (Proclaim Care Ltd)
- CL MediCall Aid Ltd
- Bush & Company Rehabilitation
- Broadspire Rehabilitation
- Somek & Associates Ltd
- CBTC UK HoldCo Ltd
- Hugh Koch Associates LLP (HKA)
- N-Able Services Ltd
- Other companies
MARKET SIZE AND TRENDS
- COVID-19 cuts case numbers in 2020
- Case volumes down further in the first half of 2021
- Case management leads the decline
- The MLIS market's value reflects the trends in case numbers
- The Catastrophic Injury Segment holds up better
- The bottom end of the market hit the hardest
THE FUTURE
- A difficult future to predict
- From COVID to Whiplash
- New MedCo reforms result in more litigants in person
- Concerns over hybrid claims
- Margins will be under pressure
- Possible changes to working practices
ASSOCIATIONS
For more information about this report visit https://www.researchandmarkets.com/r/4z6daq
