Progressive Medical Releases Annual Workers’ Compensation Medication Trends Report
Workers' Compensation Medication Spending Declined in 2011 According to Annual Analysis
WESTERVILLE, Ohio (April 17, 2012) – Progressive Medical, Inc. (http://www.progressive-medical.com) announced today the release of its 2012 Workers' Compensation Medication Trends Report. The report – released under the company’s new corporate logo – reveals changes to medication expense patterns in workers’ 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 Workers' Compensation Medication Trend Report include:
- Although medication AWP inflation was 5.8% in 2011, data shows a 1.3% reduction in total medication spend per claim due to Progressive Medical's powerful retail network penetration and utilization management solutions.
- There was an overall 3.3% decrease in utilization per injured worker from 4.3% fewer prescriptions and a 1.1% decrease in average days of medication supply received.
- Across the industry, narcotics account for 35%-40% of workers' compensation medication spend while Progressive Medical showed a 3.9% decrease in total spending per claim in this drug category. This is largely due to Progressive Medical's emphasis on conducting interventions earlier in the lifecycle of a claim.
“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 payors and injured workers.”
The report also provides insight into legislative and regulatory activity impacting payors 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/.
About Progressive Medical, Inc.
For more than 25 years, Progressive Medical has helped its clients achieve better outcomes by managing utilization and decreasing expenses. By attaining the highest possible retail network penetration and leveraging comprehensive clinical programs, we enable our clients to provide quality care for their injured workers.
Learn more at http://www.progressive-medical.com/ or call 800.777.3574.
# # #
Media and Industry Analyst Contact:
614.540.5520 or 614.570.2633