Injured worker cost per day decreased 0.5%.
Atlanta (PRWEB) July 11, 2011
Cypress Care, a subsidiary of Healthcare Solutions and leading provider of pharmacy and specialty healthcare services, today announced the release of its 2011 Pharmacy Drug Trends Report. The report is based on analysis of millions of paid pharmacy claims prospectively managed through Cypress Care and provides a review of financial and clinical elements that impacted overall workers’ compensation pharmacy program costs in 2010. Due to the company’s broad customer base, the report provides an analysis of drug trends in relation to claim age up to 15 years.
“Cypress Care is pleased to present our inaugural pharmacy drug trends report to customers and the industry at large,” said Jim Andrews, R.Ph., senior vice president of pharmacy services for Cypress Care. “We hope this report serves as a valuable resource to workers’ compensation executives seeking to gain insight into pharmacy trends, especially as it relates to influences claim age has on prescription utilization and spend.”
Key observations in the report include:
- Injured worker cost per day decreased 0.5%
- Generic dispensing increased to 69.4% and generic substitution rates increased to 95.4%
- The percentage of workers utilizing narcotics decreased 1.4%;
- There was an increase of 4.3% of injured workers taking drugs used to treat diabetes, hypertension and cholesterol, which are not commonly used in the treatment of workers’ compensation injuries, but are often necessary when returning patients to work
- There was an 82.4% growth in physician dispensing; 73.7% of physician-dispensed medications are repackaged
“The trend report illustrates that many factors drive pharmacy spend,” said Andrews. “Cypress Care continues to develop market leading programs aimed at increasing in-network usage, managing appropriate drug utilization and reducing overall costs for customers.”
To obtain a copy of the 2011 Pharmacy Drug Trends Report, please send a request through the Cypress Care website: http://www.cypresscare.com/contact.html.
About Healthcare Solutions
Healthcare Solutions, Inc. is the parent company of Cypress Care and Procura Management. Through its affiliated companies, Healthcare Solutions serves as a health service company delivering integrated solutions to the property and casualty markets, specializing in workers’ compensation and auto liability/PIP. The company’s customers include insurance carriers, third party administrators (TPAs), managed care organizations (MCOs), government agencies and self-insured employers. Utilizing market-leading technology, Healthcare Solutions delivers demonstrated benefits and savings complemented by deep industry expertise. For more information, please visit http://www.healthcaresolutions.com.