Yahoo! Finance
WALNUT CREEK, Calif., Dec. 1, 2020 /PRNewswire/ — Paradigm, the industry leader in solving catastrophic and complex health care challenges and improving lives, today announced the results of a study1 conducted by an independent actuarial firm. Among other key findings, the study shows that catastrophic workers’ compensation cases managed by Paradigm achieved lifetime medical savings of 32%, and a return to work rate nearly six times higher than industry standards. The study examines a sample of Paradigm-managed cases from the last seven years. It consistently found improved cost and clinical outcomes compared to conventional case management industry standards.
“Paradigm is an organization with a highly focused dedication to guaranteed outcomes for the most complex and serious workplace injuries,” said Paradigm Chief Medical Officer, Michael Choo, MD. “This new study once again backs up the effectiveness of our specialized and evidence-based approach with a robust set of claims data and analysis.”
The study compared 593 Paradigm cases completed since 2013 against the projected industry outcomes without Paradigm intervention. The studied cases represented a range of complexities, jurisdictions, locations, patient ages, and injury types—including acute brain, spinal cord, multiple trauma, severe burns, and amputations. All showed less costly medical and indemnity outcomes, as well as increased return to work outcomes, compared to conventional case management approaches. These findings are consistent with previous studies of Paradigm cases conducted in 2008 and 2013, and demonstrate Paradigm’s continual delivery of excellence as demonstrated throughout more than 20 years of case data.
“Above all, this study validates Paradigm’s ability to truly make a difference in the lives of catastrophically injured workers, their families, and their communities, while delivering value to our clients,” says Kevin Turner, Chief Executive Officer, Paradigm Catastrophic Care Management. “To return people back to work and do it on a cost-effective basis in these situations requires the highest standards of care, the best clinical relationships, and unparalleled operations. I’m excited to once again see definitive independent evidence to support our Systematic Care ManagementSM model and the savings we consistently deliver.”
To learn more about the methodology and findings, download the study synopsis or request a copy of the full study.
About Paradigm
For almost 30 years, Paradigm has been the industry leader in solving catastrophic and complex health care challenges and improving lives. With the most connected and experienced team in health care, we define and deliver outcomes that exceed our clients’ expectations, while helping our injured workers recover and thrive.
Paradigm delivers its solutions through three divisions: Catastrophic Care Management, Complex Care Solutions, and Specialty Networks. The Paradigm divisions are built on expertise from six best-in-class businesses: Paradigm Outcomes, The ALARIS Group, Encore Unlimited, Restore Rehabilitation, ForeSight Medical, and Adva-Net. Founded in 1991, Paradigm is headquartered in Walnut Creek, California with offices across the U.S. For more information, please visit www.paradigmcorp.com.
Media contact
Ronda Clement
VP of Marketing, Paradigm Corporation
Ronda.Clement@paradigmcorp.com
(727) 488-9345
1 Blais, A. (2020). Complex and Catastrophic Workers’ Compensation Claims Cost Analysis. Milliman.
Full article on finance.yahoo.com: Independent Study by Actuarial Firm Finds Paradigm Catastrophic Care Management’s Improved Outcomes Managing Workers’ Compensation Claims
Share
Share
Tweet
Email