Managed vs. Unmanaged — A View Into All Pharmacy Transactions and the Differences Between Their Claim Populations
3 MIN READ
The next time you look up at the night sky and marvel at the countless stars consider this: For all the things you can see, there is far more you cannot. Most of our universe is filled with dark matter and dark energy. The stars, planets, and moons make up less than 5 percent of what’s out there. It’s a reminder that what isn’t evident can still be important. The same dichotomous view exists within the pharmacy space. There are many transactions we can see at a glance yet a still sizable number that are meaningful even though they’re not always readily apparent.
How to Strategically Develop a Strong PBM Partnership
Building a strong partnership with your pharmacy benefit manager is vital to creating better outcomes. A business can take two main approaches to its relationship with its workers’ compensation pharmacy benefit manager (PBM): as either a vendor or a partner.
Improving Date of Injury Outcomes with Pharmacy Management
Workers’ compensation claims can extend many months or even years from date of injury until closure. This can make it difficult to pinpoint the most impactful moments of action. In retrospect, we can often see where improvements could have been made, whether that is intervening in the injured workers’ recovery or partnering with companies that set you up for claims success.
A Look at the Foundation of Work Comp Pharmacy Trends
4 MIN READ
We are excited to kick off this blogging effort by discussing the workers’ compensation trends we have identified in our 2017 annual Drug Trends Series and to dig into some of the key drivers behin
Guidewire Connections 2018
Guidewire Connections is the conference for
Topical Treatments - Their Impact on Drug Spend and Utilization
1 MIN READ
Topicals place fourth in overall cost among the 10 most expensive drug classes in workers’ comp. These include prescription nonsteroidal anti-inflammatory drugs (NSAIDs) and other formulations, such as creams and patches designed to treat pain.
Quarterly Drug Update: Pharmacy Drug Spend
3 MIN READ
CompPharma's 2018 Annual Survey of Prescription Drug Management in Workers' Comp found that, in the past eight years, drug spend has decreased 31.5% among those surveyed in workers’ compensation. Part of this is due to increased focus on dangerous opioid prescribing behaviors and the implementation of state-mandated formularies. Opioid spend has decreased for the same group by around 18.22% in the past year and payers and PBM’s have been able to reduce opioid spend by about one third in the last two years.
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