Today’s issue of WorkCompRecap features the release of CompPharma’s 13th Annual 13th Annual Survey of Prescription Drug Management in Workers’ Compensation, which examined 2015 pharmacy cost data of 30 workers’ comp insurance carriers, third-party administrators, self-insured employers, and state funds.
Key findings included an 8.7% reduction in payers’ pharmacy spend last year, after a one year bump up in 2014. In spite of the 2014 bump, payers surveyed have experienced an 11% decrease in drug costs over the past 6 years. Some respondents saw reductions as high as 17%, which they attributed to more active and assertive clinical management, mainly focused on opioids and other potentially problematic drugs. Consolidation in the PBM space was also a topic of interest this year, and was said to have received mixed reactions from the payer community.
Find out more (including a link to the free report!) by clicking here!