Emerging trends in pharmaceutical design and drug manufacturing are shifting toward presenting the market with new ways to develop medications. Specialty medications continue to be a major area of pharmaceutical development and have become widely discussed in workers’ comp due to their significant costs. Although they represent approximately 1% of drug utilization, they account for nearly 7% of prescription drug costs and represent the fastest-growing segment of the U.S. pharmaceutical market. While specialty drug products are often associated with a hefty price tag, some can offer clinical advantages when deployed for the right patient at the right time, making careful oversight and patient selection imperative to achieving desired outcomes in this space. Watch the video blog to learn more.
More stories
Medicare Secondary Payer Updates
Miscellaneous Medicare Secondary Payer Clarifications and a Reminder for Non-Group Health Plan (NGHP) Responsible Reporting Entities (RREs) Regarding Medicare Beneficiary Identifier (MBI) Reporting
A Fresh Look at Automotive Refinishing: Data, Trends and What to Look for in 2020
While the complexity of vehicle technology continues to explode, automotive paint processes seem to have remained relatively stagnant since the advent of waterborne base coats and the introduction of three-stage coatings on some luxury vehicles. There is, however, more to the world of automotive refinishing than meets the eye, and several manufacturers are introducing the next wave of refinish disruption.
Pharmacy Nurse – When specialized attention is what’s needed
Workers’ comp pharmacy costs represent approximately 18% of total medical spend. That translates to $5 billion in pharmacy spend nationwide.1 Most employers and payors utilize Pharmacy Benefit Managers (PBMs) which offer an excellent line of defense in managing these ever-increasing pharmacy costs. But PBMs, by design, only manage the pharmacy related aspects of a claim. What if you could extend the reach of your PBM by combining it with the knowledge, care and one-on-one delivery model used in case management? With a pharmacy nurse, you can.
Why We’re Thankful for Workers’ Comp
Thanksgiving is coming, which means it’s time for our favorite podcast of the year: What are You Thankful for in Workers’ Comp?
What Vehicle-to-Vehicle Communications May Mean for Auto Insurers and Collision Repair Facilities
Not so long ago, a “collision warning system” was defined as nothing more than “honking your horn.” While that analogue system still has its place, it is limited in its preventive measures, not to mention its potential for misuse. Fortunately, advancements in ADAS technology (Advanced Driver Assistance Systems) have greatly expanded our collision warning measures, but the industry has also been hard at work taking that technology a step further by enabling our cars to alert us—and each other—to real-time, dynamic information.
RIMS 2020 Annual Conference
The RIMS 2020 Annual Conference is the largest event of the year for the risk management community.