Express Scripts Drug Trend Report: Cost Increases Drive Higher Drug Trend for Workers’ Compensation
Overall drug trend for workers’ compensation increased 9.5%, according to the Express Scripts Workers’ Compensation Drug Trend Report, primarily from an 8.2% jump in cost per prescription. Compounded medications led the way, with per-user-per-year costs soaring 126% higher. Although these medications account for just 2.7% of pharmacy costs in workers’ compensation, the dramatic rise in price significantly impacted overall trend. Read more…
Self Administration Toolkit for WCMSAs
On April 11, 2014 the Centers for Medicare and Medicaid Services added a Self Administration Toolkit for Workers’ Compensation Medicare Set-Aside Arrangements to its CMS.gov website. It can be viewed here. The resource is designed to aid workers’ compensation claimants in the self administration of their MSA accounts with the proper establishment of, and expenditures from, their WCMSA account. Read more…
Practice, Why Practice
No, we are not talking about the iconic Allen Iverson whose penchant for missing team practices while the leading scorer for the Philadelphia 76ers throughout his turbulent career became well-documented by his own tattooed admission before a viral TV reporter audience became the stuff of ignorant legend. No, this time we are talking about the invalidation of an IRE physician who had originally been certified by the Pennsylvania Bureau of Workers’ Compensation as a certified IRE physician, by virtue of the physician having initially met the threshold credentialing requirement of being “active in clinical practice” for at least twenty hours per week when originally approved to conduct IREs. Read more…
Special Needs Trusts or Pooled Special Needs Trusts
A special needs trust is designed to financially support a disabled individual, providing many benefits to the individual with long-term financial stability. Join Ringler Radio host, Larry Cohen and co-host, Mike Zea, as they join Will Lindahl, MBA, CLPF, National Enrollment Director for CPT Special Needs Trusts, to discuss the process of setting up a special needs trust, when an individual should consider setting one up the cost and the difference between an individual special needs trust and a pooled special needs trust. Listen to Podcast…
Medical Costs per Claim for Injured Workers in Indiana Were Higher and Rising Faster Than Most in 16-State WCRI Study
The costs per claim of medical care for injured workers in Indiana were higher than most states and growing faster, according to a new 16-state report from the Workers Compensation Research Institute (WCRI). The study, CompScope™ Medical Benchmarks for Indiana 14th Edition, found the main reason for higher medical payments per claim was higher and growing prices, like other states with no price regulation. Lower to typical utilization of medical care helped to offset the higher prices paid. Read more…
Author Michael B. Stack, CPA, Principal, Amaxx Risk Solutions, Inc. is an expert in employer communication systems and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. He is a writer, speaker, and website publisher. www.reduceyourworkerscomp.com. Contact: mstack@reduceyourworkerscomp.com.
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