average cost per claim

average cost per claim

The total cost of administrative and/or medical services divided by the number of units of exposure (e.g., costs divided by number of admissions, cost divided by number of outpatient claims, etc.).
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Although the actual number of paid claims fell by over 33 percent from 2004 to 2011, the average cost per claim rose 93 percent during the seven-year period.
While surgical treatment for a torn knee ligament/cartilage occurred with the greatest frequency, the condition with the highest average cost per claim was intervertebral disc disease, for which pet owners paid an average of $3,282 in 2010.
Using its proprietary claims and case management system, RTW closes claims more quickly and at a lower average cost per claim than its competitors in the workers' compensation industry.
The average cost per claim rose nearly 13 percent from 2009 to 2010 and more than 80 percent from 2004-2010, even as the actual number of claims fell by a little over 23 percent over the six-year period.
Illinois-44,000 claims, average cost per claim $8,150
insured losses from lightning continue to climb, with the average cost per claim up 39 percent over the past five years.
The average cost per claim in Texas ($5,938) was 76 percent above the median in the study of 12 large states conducted annually by WCRI.
Reflecting additional information regarding claims from Rita, and due primarily to a reestimation of the average cost per claim, estimated gross losses have increased to between $20 million and $22 million, compared to the company's prior estimate of $10 million.
1 in 2004, and the average cost per claim has increased to close to $180,000.