workers’ compensation drug costs News

Workers’ Compensation Still Under Pressure from Drug Repackagers, Compounding Pharmacies

Though the number of physician dispensed prescriptions has declined considerably from just a few years ago, the workers’ compensation industry continues to battle a market seeking to maintain high prices by changing drug strength and formulations. The impact of physician …

Pharmacy Cost in Workers’ Compensation Continues to Fall: CompPharma Survey

Workers’ compensation payers saw an average 11 percent reduction in their pharmacy spend in 2016, driven by a 13.3 percent reduction in opioid cost, according to an annual survey by pharmacy benefit manager CompPharma. CompPharma’s 14th Annual Survey of Prescription …

Here’s What’s Happening with Drug Costs in Workers’ Compensation

Overall pharmacy spending increased 2.2 percent for U.S. workers’ compensation payers in 2015 due to higher drug prices, according to a report by benefit manager Express Scripts. That overall increase was a function of 2.6 percent lower injured workers’ drug …

More States Eye Use of Drug Formularies in Workers’ Compensation

While workers’ compensation pharmacy benefit managers have been utilizing drug formularies to control prescription drugs costs and monitor medical treatments for a long time, states are now catching on. Drug formularies are lists of prescription drugs that are considered appropriate …

Florida Approves Cap on Physician-Dispensed Drugs for Workers’ Compensation

After years of struggling to rein in the cost of physician-dispensed drugs, Florida workers’ compensation insurers finally reached a compromise with physicians and drug companies that is projected to reduce costs by some $20 million. Florida lawmakers today approved the …

Florida Lawmakers Split on Workers’ Comp Drug Dispensing; Rate Cut Possible

Florida lawmakers appear headed toward a stalemate over how to rein-in the cost of physician-dispensed workers’ compensation prescription drugs. In an effort to force a deal, Senate lawmakers are calling for a statewide average 2.5 percent rate cut if a …