Westerville, Ohio (PRWEB) June 17, 2010
Progressive Medical, Inc. (http://www.progressive-medical.com) announced today the release of its 2010 Drug Spend Analysis. The report reveals changes in medication spending on workers’ compensation claims from 2008 to 2009 for Progressive Medical clients, as well as key factors that may influence future expenditures, such as price, utilization and product mix changes.
Key highlights from the 2010 Drug Spend Analysis include:
- AWP inflation was 5.2%, which comprises an 8.1% increase for brand products and a .2% increase for generics.
- While the number of days supply dispensed per prescription decreased by 1.5%, prescriptions per injured party increased 4.2%.
- The net effect of increased use of generics overall from 2008 to 2009 is a 2% reduction of total medication spending.
- Fourteen of the top 25 medications show a decrease in spending per injured party from 2008 to 2009.
- Narcotic analgesic-acetaminophen combinations currently represent 20% of workers’ compensation prescriptions with more than 90% dispensed as generic.
“This analysis strongly highlights the value of putting strategies into place to control medication spending,” said Tron Emptage, Executive Vice President of Business Development. “An effective pharmacy benefit management program can help worker’s compensation payors realize savings as much as 10 to 15 percent per claim.”
To request a copy of the 2010 Worker's Compensation Drug Spend Analysis, please visit http://www.progressive-medical.com/DrugSpend.aspx.
About Progressive Medical, Inc.
Progressive Medical, through a national network, offers cost containment services and products to the workers’ compensation and auto no-fault insurance industries. Progressive Medical has invested more than 20 years of experience in developing innovative pharmacy management and ancillary solutions for its clients. By combining its clinical expertise with access to an expansive network of pharmacies, home health care services and medical equipment, Progressive Medical enables its clients to manage costs while providing quality care to injured parties.
Learn more at http://www.progressive-medical.com/OurCompany/NewsandEvents.aspx or call 800.777.3574.
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