Topical Treatments - Their Impact on Drug Spend and Utilization
1 MIN READ
Topicals place fourth in overall cost among the 10 most expensive drug classes in workers’ comp. These include prescription nonsteroidal anti-inflammatory drugs (NSAIDs) and other formulations, such as creams and patches designed to treat pain.
Quarterly Drug Update: Pharmacy Drug Spend
3 MIN READ
CompPharma's 2018 Annual Survey of Prescription Drug Management in Workers' Comp found that, in the past eight years, drug spend has decreased 31.5% among those surveyed in workers’ compensation. Part of this is due to increased focus on dangerous opioid prescribing behaviors and the implementation of state-mandated formularies. Opioid spend has decreased for the same group by around 18.22% in the past year and payers and PBM’s have been able to reduce opioid spend by about one third in the last two years.
AWP Trends — Understanding the Forces That Drive Drug Prices
4 MIN READ
A drug’s Average Wholesale Price (AWP) is a simple benchmark for distinguishing the cost of one medication from that of another.
Pharmacy Management: A Proactive Approach
A workers’ compensation claim is often a long and complicated process for the injured worker, generally involving multiple groups focused on the injured workers’ recovery. The average duration of a claim can easily exceed 15 months, depending on the severity of the injury, jurisdictional requirements and the overall health of the injured worker.
Drops in MED Indicate We’re Making Important Progress
1 MIN READ
Part One of Coventry’s 2017 Drug Trends Series reported the largest drop in Morphine Equivalent Dose (MED) in the last three years.
Impact of Drug Formularies on Workers' Compensation State Laws
5 MIN READ
Interest in drug formularies has grown significantly in the past few years, coinciding with a greater concern over the opioid crisis. Texas and Ohio were pioneering states in the creation of drug formularies and several states have followed suit recently. Oklahoma, Washington, Ohio, Tennessee, California, Arizona and Texas all have statewide drug formularies; states including Massachusetts, Indiana, Pennsylvania and New York are currently considering or developing formularies.
A Prescription for Fighting Opioid Use Disorder
1 MIN READ
The rampant opioid misuse battering the nation represents one of the most virulent threats to employee welfare in the more than 100-year history of workers’ compensation protections. Equipping key players with an understanding of what to look for and how to respond will lead to better chances of deterring the abuse of opioid analgesics that has proven so costly to workers’ wellbeing.