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Analytics-assisted triage of psychological workers’ compensation claims

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thesis
posted on 28.03.2022, 23:51 authored by Kyu Hyung Park
Workers’ compensation is a form of insurance for employers providing income replacement, medical benefits and rehabilitation support to eligible workers suffering a work-related injury or illness. The cost of work-related injuries and illnesses is significant in Australia, amounting to 4.1 percent of GDP in terms of total economic cost. Among all injuries, psychological injury is the most expensive form of workers’ compensation claim due to its typically long duration. Despite the importance and cost of work-related psychological injury, the factors associated with prolonged claim duration are still not well understood. Using data provided by the workers’ compensation agency in South Australia, this research identifies factors associated with the duration of workers’ compensation claims for psychological injuries (psychological claims), and develops a practical and informative business model to aid the management of such claims by using modern analytics techniques including classification tree and association rule learning. We find that the factor most associated with duration of psychological claims is occupation, followed by bodily location of the most recent prior claim and age of injured worker. It is found that, among psychological claims, those made by claimants in high socio-economic occupations are at higher risk of prolonged claim duration. We finally develop a triage model that uses these factors to segment claims according to risk of prolonged duration. The model enables the focusing of efforts and resources on high-risk claims, thereby reducing the economic and societal burden of work-related injury.

History

Table of Contents

1. Introduction -- 2. Literature review -- 3. Data -- 4. Method -- 5. Results -- 6. Discussion -- 7. Conclusion -- References -- Appendices.

Notes

Bibliography: pages 63-69 Empirical thesis.

Awarding Institution

Macquarie University

Degree Type

Thesis MRes

Degree

MRes, Macquarie University, Faculty of Business and Economics, Department of Applied Finance

Department, Centre or School

Department of Applied Finance

Year of Award

2017

Principal Supervisor

Leonie Tickle

Rights

Copyright Kyu Hyung Park 2017. Copyright disclaimer: http://mq.edu.au/library/copyright

Language

English

Extent

1 online resource (xv, 107 pages) diagrams, graphs, tables

Former Identifiers

mq:70797 http://hdl.handle.net/1959.14/1267830