A Look at the Foundation of Work Comp Pharmacy Trends
May 22, 2018
We are excited to kick off this blogging effort by discussing the workers’ compensation trends we have identified in our 2017 annual Drug Trends Series and to dig into some of the key drivers behin
Guidewire Connections 2018
Guidewire Connections is the conference for
Quarterly Drug Update: Pharmacy Drug Spend
May 9, 2018
CompPharma's 2018 Annual Survey of Prescription Drug Management in Workers' Comp found that, in the past eight years, drug spend has decreased 31.5% among those surveyed in workers’ compensation. Part of this is due to increased focus on dangerous opioid prescribing behaviors and the implementation of state-mandated formularies. Opioid spend has decreased for the same group by around 18.22% in the past year and payers and PBM’s have been able to reduce opioid spend by about one third in the last two years.
AWP Trends — Understanding the Forces That Drive Drug Prices
May 6, 2018
A drug’s Average Wholesale Price (AWP) is a simple benchmark for distinguishing the cost of one medication from that of another.
Pharmacy Management: A Proactive Approach
April 30, 2018
A workers’ compensation claim is often a long and complicated process for the injured worker, generally involving multiple groups focused on the injured workers’ recovery. The average duration of a claim can easily exceed 15 months, depending on the severity of the injury, jurisdictional requirements and the overall health of the injured worker.
Impact of Drug Formularies on Workers' Compensation State Laws
February 28, 2018
Interest in drug formularies has grown significantly in the past few years, coinciding with a greater concern over the opioid crisis. Texas and Ohio were pioneering states in the creation of drug formularies and several states have followed suit recently. Oklahoma, Washington, Ohio, Tennessee, California, Arizona and Texas all have statewide drug formularies; states including Massachusetts, Indiana, Pennsylvania and New York are currently considering or developing formularies.
Reflecting on 2017: Predictions for 2018 in Workers’ Compensation
January 11, 2018
The famous author and anthropologist Edward Weyer, Jr. once said, “The future is like a corridor into which we can see only by the light coming from behind.” As we look to see what is coming in workers’ compensation policy in 2018, our best predictions are illuminated by recent policy activity. Here is what we believe will be the big issues in workers’ compensation for 2018.