The primary concern of the workers’ compensation industry continues to be centered on pharmacy spend. A workers’ compensation pharmacy benefit management (PBM) offering must control costs and respond to industry issues. Successful PBM programs should drive network and mail order penetration and optimize outcomes through strong, industry-specific clinical oversight.
The importance of understanding spending trends, mainstream challenges and the industry landscape being faced by payers and employers cannot be overemphasized. A comprehensive analysis of the workers’ compensation industry should be based on robust informatics and a keen understanding of market trends.
For the past four years, PMSI has issued a study of drug trends in the workers’ compensation arena. Its recent 2011 Annual Drug Trends Report provides a review of 2010 pharmacy spend and strategies for mitigating pharmacy cost. The 2011 report findings are based on data analysis of PMSI’s 5.4 million retail and mail order transactions during calendar years 2008–2010.
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