Rising generic drug prices, opioid overuse and associated costs of urine drug testing and bill review make pharmacy as costly component of workers’ compensation. Fee schedule changes and PBM transparency issues also complicate cost management.
Legalization of marijuana could further muddy the waters. Workers’ comp insurers will have to determine whether marijuana use presents the best treatment plan, both for patient outcomes and as a cost-effective alternative to pharmaceuticals. As the opioid epidemic rages on, driving down utilization will prove a key factor in controlling costs.
Sponsor’s Information: Learn more about how Starr Companies addresses pharmacy costs with their Accident & Health insurance solutions.