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.
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Pennsylvania House Passes Drug Formulary Bill
The Pennsylvania House justed passed a bill to establish a drug formulary. The bill is now awaiting action from Pennsylvania's governor.
StateWatch: Bill Review April 2018
Keep current with new legislation and its potential effect on your organization. This regulatory update is for informational purposes only, and provides some key highlights on state initiatives that may impact the bill review services Genex provides.
What’s BIG Diversity?
It’s mid-April, a time when my Outlook calendar begins to beep repeatedly in anticipation of the annual RIMS conference. While you surely have most of your regular appointments, sessions events scheduled by now, I’d suggest saving some time for a few new programs scheduled for the San Antonio meeting next week.
Texas Publishes Final Drug Formulary Rule Change
Texas published a formal rule change that re-defines compound medication.
West Virginia Governor Signs Opioid Reduction Act
In an effort to reduce the high number of opioid deaths in the state, West Virginia just passed an Opioid Reduction Act.
January 2018 Used Vehicle Market Conditions
Wholesale used vehicle prices started the year in the pattern that characterized much of 2017 in the months prior to hurricane season. Namely, car prices tended to fall while truck prices provided a boost to average wholesale values. In January, car prices continued to show year-over-year price declines, while truck prices did the opposite, but that situation is moving towards parity, as indicated by strong month-over-month increases in car prices.