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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The chart below illustrates the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
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RIMS 2018 Annual Conference & Exhibition
RIMS 2018 Annual Conference & Exhibition is the premier event for the risk management community. RIMS 2018 features not only the largest exhibition dedicated to risk management in the world, it also includes a full conference with more than 400 speakers presenting on the full spectrum of risk management.
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Data analytics programs are supposed to help you determine workers’ comp trends and predictive analysis. So why isn’t your program delivering? In today’s Inside Workers’ Comp, data analytics expert Jim Harris explains how factors such as aging claims systems and inconsistent data input could be preventing you from capturing, reporting, and trending the information you need to make important claims decisions.