Four Corners, ABC and SMH reported icare faces a looming financial disaster. icare responded, stating claims were addressed and some reports are misleading or inaccurate
Australia’s biggest workers compensation system icare faces looming financial disaster
- Expertise -warns NSW Workers’ Compensation is led by short?tail claims specialists lacking long?tail expertise.
- Claims Model – Surgery costs have increased. Care costs (accommodation, treatment, etc) increase as have costs. Workers compensation claim cost increases relate to the changes to processes
- Claims Agent – The NSW scheme’s reliance on a single claims agent has reduced service quality and created premium management issues.
- SIRA – SIRA’s involvement is key to assisting with the ongoing review and investigation of our scheme, we support the review to ensure the best outcomes for our injured workers, employers and providers. We will be interested in the ongoing involvement from SIRA and the review process with ICAC. We are keen for SIRA to increase their involvement in ensuring the scheme is viable for the future and premiums can be sustainable long term.
- Businesses – NSW businesses fund the NSW workers compensation scheme via the premiums they pay. Peter McCartney is vocal that the current model is penalising businesses.
A famous personality regularly says irrespective of how flat a pancake is there is always 2 sides. We monitor with bated breath & remain hopeful positive changes come of this investigation for our clients, partners & injured workers alike.
At ABILITY GROUP focuses on sustainable return?to?work outcomes, overcoming challenges and lobbying Icare and SIRA for process improvements
The workers compensation journey continues…
Any questions or comments, please contact us to discuss.
Source: ABC
Title: Australia’s biggest workers compensation system icare faces looming financial disaster
Read/Watch time: 50 minutes