Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 69

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 69
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 our Broadspire segment for the year ended December 31, 2023 are summarized as follows:

    2023 Period compared to 2022 Period Ending:
     
    December 31

    Increase in cases received
     
    0.4%

    Increase in medical management revenues with no cases received
     
    3.0%

    Increase in claims management revenues with no cases received
     
    4.6%

    Change in product mix and rates
     
    5.4%

    Increase in Revenues before Reimbursements
     
    13.4%

Reimbursed Expenses Included in Total Revenues

Reimbursements for out-of-pocket expenses incurred in our Broadspire segment which are included in total Company revenue increased to $3.3 million in 2023 from $3.1 million in 2022. The increase in reimbursed expenses in the 2023 period was primarily due to the increased revenues in the current year.

Case Volume Analysis

Broadspire unit volumes by service line, as measured by cases received, for 2023 and 2022 were as follows:

    Year Ended December 31,
     
    2023

    2022

    Variance

    Claims Management

    397,010

    409,712

    (3.1
    )%

    Medical Management

    145,822

    131,181

    11.2
    %

    Total Broadspire Cases Received

    542,832

    540,893

    0.4
    %

Overall case volumes were 0.4% higher in 2023 compared with 2022, due to an increase in Medical Management referrals. There was a decrease in Claims Management cases due to a reduction in both casualty and A&H cases, partially offset with growth in Disability case volumes. The resulting change in the mix of cases received resulted in an increase in revenues and the average fee per case.

Direct Compensation, Fringe Benefits & Non-Employee Labor

The most significant expense in our Broadspire segment is the compensation of employees, including related payroll taxes and fringe benefits, and payments to outsourced service providers that augment the functions performed by our employees. Direct compensation expenses, fringe benefits, and non-employee labor, as a percent of Broadspire segment revenues before reimbursements, decreased from 63.3% in 2022 to 61.