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 Heart of the Challenge: The Role of Direction of Care in Managing Workers' Compensation Costs
At the core of the drug pricing challenges in workers' compensation is the concept of "direction of care." This refers to the ability of employers or payers to direct injured employees to a specific network of health care providers, including pharmacies.
Decoding Functional Restoration Programs: Ensuring Accurate Billing Practices
Functional Restoration Programs (also known as Functional Rehabilitation Programs or FRP) are like a well-curated menu at a restaurant—designed to help workers' compensation claimants get back to work.
Vertical Integration of Data and Clinical Services to Improve Physical Medicine Outcomes
In a sea of claims, P&C professionals need help spotting cases headed for risky waters. Does a claimant have comorbidities or preexisting conditions, such as diabetes, which could hamper an injured employee’s ability to heal and recover? Are there psychosocial risk factors that can create roadblocks to recovery?
Workers' comp medical costs stabilizing nationally amid state-level volatility
Curious about medical costs in the workers' comp industry? Check out the latest PC 360 article featuring insights from our Enlyte Medical Price Index (MPI) Report, with expert analysis by Michele Hibbert.
Ask The Pharmacist: Cosentyx and Its Place in Workers’ Comp
Are you seeing requests for Cosentyx for your injured employee but are unclear on the application of this medication? Cosentyx, a biologic medication developed by Novartis, is increasingly recognized in the treatment landscape for chronic autoimmune conditions such as plaque psoriasis, ankylosing spondylitis and psoriatic arthritis.
Importance of Early Intervention After Trauma
Early intervention after trauma is vital for mitigating its effects and promoting recovery. Discover insights on prevalence, economic burden, and the transformative impact of timely psychological support on long-term mental health outcomes.