wcPrism

Mastering data compliance reporting requirements for workers’ compensation

Workers’ compensation data compliance reporting is challenging; insurers must carefully format and submit detailed claim and policy data to state jurisdictions and data collection organizations. Verisk has solutions for all workers’ compensation compliance reporting needs that will help save time and improve reporting accuracy.

Simplify workers’ compensation reporting with the EDI Reporting Map

Edi Map

Simplify workers’ compensation reporting with the EDI Reporting Map

Managing numerous compliance reporting obligations can be overwhelming, especially when working through technical challenges in EDI states. If you struggle to keep up with each jurisdiction’s specifications, we have a tool that can help: the EDI Reporting Map.

Workers’ comp reporting to meet every state’s requirements

Wcprism

Workers’ comp reporting to meet every state’s requirements

Navigating the complexities of workers’ compensation state reporting is extremely challenging—but it doesn’t have to be. wcPrism® provides a comprehensive suite of tools to simplify workers’ comp data reporting.

Insurers can handle workers’ compensation reporting with wcPrism

wcPrism is a complete suite of workers’ compensation data compliance reporting products for insurers. The component solutions include:

  • Injury Reporter — Satisfies states’ Electronic Data Interchange (EDI) electronic compliance requirements for first and subsequent reports of injury (FROI/SROI) with accuracy and confidence
  • Unit Statistical Reporter — Meets data collection organization (DCO) requirements for aggregation and valuation of policy and claim data for the submission of unit statistical reports (USRs)
  • Detailed Claim Information (DCI) Reporter — Meets DCO requirements for reporting specific claims data elements for randomly sampled claims
  • Policy Reporter — Meets DCO and state jurisdiction requirements for reporting policy information (WCPOLS) to individual DCOs and proof-of-coverage information (POC) to state jurisdictions to avoid noncompliance fines
  • Medical Reporter — Consolidates medical bills into one data warehouse to manage compliance reporting for all DCOs
  • Indemnity Data Call — Meets requirements for aggregation and valuation of indemnity claim data for the submission of the indemnity data call to the DCOs

Now supporting NCCI’s new call for indemnity data

Idemnity Call Brochure

Now supporting NCCI’s new call for indemnity data

The National Council on Compensation Insurance (NCCI) announced that new data reporting for indemnity benefit payments will be required in 2020. Data reporters will need to report additional data elements for indemnity benefit payments. wcPrism meets requirements for aggregation and valuation of claim data for indemnity claims. Read more on our blog.

For more Verisk workers’ compensation solutions, check out:

ISO Claims Partners helps insurers take control of claims, compliance, and costs

Iso Claims Partners

ISO Claims Partners helps insurers take control of claims, compliance, and costs

ISO Claims Partners provides a wide range of claims compliance solutions—from extensive MSP services to efficient EDI reporting—as well as proven predictive analytics that improve workers’ compensation and liability claims management.

Getting more from EDI reporting

Wcanalyzer

Getting more from EDI reporting

The Electronic Data Interchange (EDI) workers’ compensation reporting process entails the transmission of a vast amount of information, including detailed first reports of injury (FROI) and subsequent reports of injury (SROI) claims and medical billing data. Verisk has a solution that can help states and insurers get more from their compliance efforts.

Capturing workers’ compensation claims information with EDI

Wccapture

Capturing workers’ compensation claims information with EDI

Workers’ compensation data compliance reporting is challenging. Insurers must carefully format and submit detailed claim and policy data to state jurisdictions and data collection organizations. Verisk has solutions for all workers’ compensation compliance reporting needs that will save time and improve reporting accuracy.

Detect and manage high-severity workers’ comp claims through predictive analytics

Wcnavigator

Detect and manage high-severity workers’ comp claims through predictive analytics

Accurately determining workers’ compensation claim severity early is key to controlling claim costs. wcNavigator® uses predictive analytics to help adjusters and claims managers accurately identify claim severity as early as day one.

Achieve full compliance for future medical allocations while managing expenses

Medicare Future Allocations

Achieve full compliance for future medical allocations while managing expenses

Complying with Medicare’s demands for future medical allocations requires deep knowledge of both medical and legal aspects of injury claims. ISO Claims Partners has a range of services to help you comply and expertly manage expenses.

Complex claims and compliance costs insurers

Workers Comp

Complex claims and compliance costs insurers

Workers’ compensation insurers are challenged with managing complex claims, rising claim severity, and stringent reporting obligations. And with many experienced claims handlers nearing retirement, the challenges become even more daunting.

Contact Us to Learn More

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