Joe Paduda joins us to explain the basic framework of our workers' compensation system. In this episode, we discuss why our system is so complicated and some of the key features of several states.
While Yvonne tries to keep the conversation focused on basics, Ralph and Joe wander on a few tangents, such as discussing the potential of a federalized workers' compensation system. Joe explains why that is not likely to happen and they explore Medicare and Medicaid components.
Whether you are new to workers' comp or are a seasoned industry professional, this is a fun conversation that reviews some basic elements of our system and we introduce a few core concepts and terms such as frequency, severity, medical, indemnity, and administrative expense.
Joe tells us what he likes about workers' compensation and it is a key element of why we have such good people in the system and why they work hard to make it better every day.
You'll have to find us on YouTube and watch the video of this episode to see the cameo appearance of Joe's dog Oakley!
Check out Joe's blog on Substack here:
https://joepaduda.substack.com/
You can find more information Joe has shared over the years at his original website Health Strategy Associates:
https://healthstrategyassoc.com/
¡Muchas Gracias! Thank you for listening. We would appreciate you sharing our podcast with your friends on social media. Find Yvonne and Rafael on Linked In or follow us on Twitter @deconstructcomp
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