Worker's Compensation Medication Trends Report Released
The report reveals key factors that may influence future expenditures, such as chronic pain, product mix, and government activity.
Progressive Medical Inc. announced Tuesday the release of its 2012 Worker’s Compensation Medication Trends Report. The report reveals changes to medication expense patterns in worker’s compensation claims from 2010 to 2011 for Progressive Medical clients, as well as key factors that may influence future expenditures, such as chronic pain, product mix, and government activity.
Key highlights from the 2012 Worker’s Compensation Medication Trend Report include:
- Although medication AWP inflation was 5.8 percent in 2011, data shows a 1.3 percent reduction in total medication spend per claim
- There was an overall 3.3 percent decrease in utilization per injured worker from 4.3 percent fewer prescriptions and a 1.1 percent decrease in average days of medication supply received.
- Across the industry, narcotics account for 35-40 percent of worker’s compensation medication spend while Progressive Medical showed a 3.9 percent decrease in total spending per claim in this drug category.
“This year’s analysis strongly highlights the need for robust utilization management programs to control medication spending,” said Tron Emptage, Progressive Medical's chief clinical officer. “It provides insight into pharmacy spending trends and the impact issues such as narcotic use, physician dispensing, and compounded medications have on payers and injured workers.”
The report also provides insight into legislative and regulatory activity impacting payers and their injured workers and includes a forecast of issues that will affect the industry this year.
To request a copy of the 2012 Worker's Compensation Medication Spend Report, please visit http://www.workcomptransformation.com/medication-trends-report/.