I am back from RIMS 2010 where I shared a panel with John D’Alusio, AVP of Avizent and Paulette Chapman, Risk Manager with Compass USA. It was standing room only where 150+ employers/Carriers/TPAs signed up for the session. When we originally proposed the topic, we were expecting to be right in the middle of live reporting. As you all are aware, mandatory reporting has been pushed back until January 1, 2011 so I was concerned we might have been a little off topic.
The plan was to limit the “lecture” to an hour and leave 30 minutes for questions. Fortunately, we ended a few minutes early and had nearly 45 minutes for Q&A, all of which was needed to address the audiences concerns.
The good news is that mandatory reporting has finally piqued the interest of folks representing non-WC interests. The bad news is they still are struggling with how to implement MSP compliance post settlement. It was clear from the questions that only bits and pieces of the message is getting through to the industry, much of which is not accurate.
The battle for the hearts and minds of liability insurers continues… Feel free to give me a call if you want our take on what mandatory reporting means for future MSP compliance.
Postscript from the session
Roy Franco, formerly of Safeway and now practicing attorney, mercifully tossed us a softball question to which none of us had the answer. Sometimes the question is too easy. Be on the lookout for his MSP compliance book to be published this summer by Juris (and directly competing with the treatise from Lexis/Nexis which we are editing at the same time). Is it possible the world needs TWO MSP compliance handbooks? Are there really two people willing to take the time and effort to publish such a book?
Representatives from MARC passed out their petition in support of HR 4796 which MEDVAL also supports. For more information go to http://www.marccoalition.com/
John Williams from Gould and Lamb has a great poker face since we all but implored the audience NOT to use an MSA company as a reporting agent and he didn’t even flinch. I guess they have signed up enough clients and do not care what we think. For the record MEDVAL believes ISO is the best option for third party reporting services currently on the market. But you still need to get your data in shape to report.
I only had time to attend one session which was on the subject of Texas non-subscriber status. Can you believe that it is possible to operate completely outside the state mandated WC system, set your own benefit and medical treatment guidelines and still save 50% or more on your work comp program? What’s the downside you ask? Well you give up the exclusive remedy of WC which is too frightening for the average self-insured to consider. In alot of ways it reminded me of not submitting cases to CMS. It is the best way to go, will save millions over time and has a very manageable risk on the back-end. But again, is probably too outside of the box for anyone but the most forward leaning risk managers to consider.