Estimated costs of meds in workers' comp
Pharmacy comprised approximately 19 percent -- $5.4 billion -- of the total $30 billion workers' comp medical expenses in 2010, according to a new survey of workers' comp payers from CompPharma LLC, a workers' comp pharmacy advocacy and education firm.
The authors cite research from the National Academy of Social Insurance and NCCI. Other reports, they note, peg drug expenses at between 15 percent and 17 percent of the total medical expenditure.
However, the authors note it is currently not possible to calculate precisely the cost of medications in the workers' comp system. The different estimates are based on data from different states. There is variation among and between payers and jurisdictions on the basis for determining what products or billing codes are included as drug spend. Also, since drugs are dispensed in a variety of settings by many providers, some drug costs may be included in other charge categories.
March 5, 2012
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