According to CompPharma's 13th Annual Survey of Prescription Drug Management, prescription drugs account for one of every six dollars spent on workers' compensation claims. CompPharma found in this recent study that there has been an 8.7% decrease in the amount of workers' compensation payers' drug spending. The survey conducted took pharmacy cost data from 30 workers' compensation insurance companies, self-insured employers, and third-party administrators.
The Claims Journal accredited this sudden decrease to better clinical management, improved interrogations with pharmacy benefit managers, and fewer drugs being prescribed.
Workers' compensation payers' have opioid management programs, which limit the amount of opioid prescriptions patients may be given. The survey found that opioids made pharmacies a large amount of money. Forty percent of the people who participated in the survey acknowledged that compounds, such as opioids, was an emerging issue in workers' compensation prescriptions. That is why efforts have been taken to prevent this medication from being overly prescribed.
The president of CompPharma, Joseph Paduda, states, "...Payers have seen drug costs go down by 11% in the past six years despite the 2014 increase."
Hopefully, the decrease in prescriptions will prevent workers' compensation patients from being over-prescribed medication.
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