Workers’ comp carriers saved 11% in their pharmacy costs due to opioid reduction

Workers’ comp carriers saved an average 11 percent in their pharmacy costs in 2016, driven by a 13.3 percent reduction in opioid cost, according to an annual survey by pharmacy benefit manager CompPharma.

CompPharma’s 14th analyzed pharmacy cost data from 2016 of 23 workers’ compensation insurance carriers, third-party administrators, self-insured employers and state funds.

PBMs’ clinical programs, in particular, have dramatically reduced the use of opioids.

Opioids accounted for 26.8% of total pharmacy spend, a figure that is just slightly below last year’s 28% and similar to other national statistics (NCCI – 29%, Express Scripts 2016 Workers’ Compensation Drug Trend Report – 26.5%).

To download the survey click here:

Prescription Drug Management in Workers’ Compensation The Fourteenth Annual Survey Report (2016 data)