The Long, Winding Road of Drug Pricing
One of the most persistent and complex challenges facing workers’ compensation claims administrators and insurers is managing prescription drug costs. The problems around prescription drugs are pervasive throughout the health care industry, have been around for over a century, and cover a wide range of issues including accessibility, efficacy and cost. For workers’ compensation payors, cost has been the most challenging issue.
Leveraging Direction of Care in Workers' Comp to Address Drug Pricing
Direction of care can have a profound influence on reducing the impacts of high drug prices in workers' compensation. In our latest interview with VP of Government Affairs, we dive into the latest on drug pricing and direction of care.
Catastrophic Case Management: Immediate coordinated response by clinical experts
Most illnesses or injuries progress well with traditional case management services. However, a small percentage of cases require more intense and careful management. Early intervention and proper procedure are imperative in the treatment of catastrophically injured people. Clinical situations that require catastrophic case management are characterized by diagnosis, complexity of treatment, and high dollar exposure.
Back to the Basics: Cost Control and the Role of Precertification and Utilization Review in Workers’ Compensation
Medical expenses, now averaging well over 60 percent of average claims costs,1 represent a significant impact on an employer’s workers’ compensation total cost of risk. This trend isn’t going away soon, as this average is expected to climb even higher in the coming years. Contributing to the climb are expenses incurred for treatment that are unrelated to an injured workers’ injury.
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