Memphis, TN -(PRWeb)- The merged entity of Progressive Medical and PMSI, a workers’ compensation specialty services company, recently announced the release of its 2014 Drug Trend Report—the first that combines data from both companies—showing results from their pharmacy programs in 2013. The company reports an overall 1.7% decrease in prescription cost per claim and, for opioid analgesics, a 5% reduction in utilization and a 6% reduction in prescription cost per claim. Additionally, the company saw a decline in the Morphine Equivalency Dose (MED) per claim of 9.6%.
“Coming together as one company allowed us to analyze millions of pharmacy transactions, and measure the impact our combined programs have had on pharmacy cost containment and utilization management,” stated Tommy Young, Co-CEO of the combined company. “At a time when average wholesale price inflation continues to climb, the reduction in costs in our book of business shows the power of our programs to protect the financial interests of our clients while ensuring injured workers receive the medication therapy they need. In addition, we are positively impacting the use of opioid analgesics in injured workers through our predictive modeling, clinical oversight, and intervention efforts.”
Additional significant accomplishments reported include:
- Up to 98% retail network penetration
- 99.7% generic efficiency
- Improvement in generic utilization by 1.9 points, moving from 74.1% to 76.0%
The Drug Trend Report can be viewed online and printed copies may be requested here: http://www.FirstFilltoSettlement.com.
Source: PRWeb