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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What Does Network Security Look Like When There Is No Perimeter?
Recently, it’s been said by many in the IT Industry that ‘the perimeter is dead’. But what, exactly, does that mean? Think of it this way: it hasn’t been that long since all users, devices and applications were corralled into a closed network with defined entry and exit points. Essentially, the ‘wagons were circled’ and a firewall could be built to protect the perimeter.
When, Why, and How to Use Nurse Review on Third Party Medical Claims
When third party auto casualty claims are extremely complex, for example, when multiple providers are treating a claimant, the claimant has pre-existing conditions or the claim has been open for an extended period of time, insurance carriers benefit by bringing in medical professionals to perform claim reviews. An organization of trained nurses can be an invaluable tool in a third party adjusters’ toolbox.
Why Transparency in Healthcare is Important: FAIR Health Methodology
Having access to a database with a transparent methodology for deriving provider market rates and insurance information serves as a valuable asset in the P&C industry for organizations largely involved in the healthcare market. Healthcare claims data is integral in helping identify and monitor trends in the healthcare market.
Will We See Human Interaction Disappear with AI in Insurance?
Artificial intelligence (AI) has the potential to profoundly impact the insurance industry. Although I would be challenged to explore all the potential use cases for it in a single blog post, I do want to take a look at how it is changing the way consumers interact with their insurance company and the ability of insurance companies to deliver optimal claims experiences—and ultimately, better outcomes.
Workers' Compensation Medical Price Index: Q2 2017
The National CPI for All Services as reported by the Bureau of Labor Statistics in August 2017 is 120.9, which reflects a 1.7 percent decrease since Q1 2017. For the same period of time, Q1 2017 to Q2 2017, the National Workers’ Compensation MPI decreased 2.8 percent and as August 2017, sits at 110.7. Since Q1 2006, the MPI has increased 10.7 percent while the National CPI for All Services increased 20.9 percent.
Settling In: A Q-and-A with Mitchell’s General Manager of Auto Physical Damage, Debbie Day
As the new Auto Physical Damage (APD) General Manager here at Mitchell, Debbie Day brings a fresh approach and big plans for continuing to empower better outcomes for our customers.