Navigation Links
New Lockton Report Analyzes Prescription Drug Abuse and Its Effect on Workers' Compensation
Date:9/20/2012

KANSAS CITY, Mo., Sept. 20, 2012 /PRNewswire/ -- There has never been a more damaging impact on the cost of workers' compensation claims from a single issue than the abuse of opioid prescriptions for the management of chronic pain, according to a new report from Lockton.

(Photo:  http://photos.prnewswire.com/prnh/20120920/CG78558-a)

(Photo:  http://photos.prnewswire.com/prnh/20120920/CG78558-b)

(Logo:  http://photos.prnewswire.com/prnh/20090415/CG99351LOGO)

The report—titled Opioids Wreak Havoc on Workers' Compensation Costs—seeks to update employers on current trends related to the growing issue of prescription drug abuse and how it affects the cost. Some insights from the report include:

  • An estimated 55 to 86 percent of all claimants are receiving opioids for chronic pain relief.
  • Pharmacy is growing disproportionately to total medical costs. Pharmacy only accounted for about two percent of all medical costs n 1990. Today, on average, workers' compensation prescription drugs account for 19 percent of the total medical spend.
  • Opioids account for an average of 25 percent of the overall pharmacy spend, and 35 percent (or more) for claims more than three years old.

"The aggressive prescribing of opioids to treat chronic pain is a relatively new phenomenon in workers' compensation's 100-year history; an epidemic affecting all of society and workers' compensation in particular," wrote Keith Rosenblum, senior risk consultant for Lockton.

He added, "Employers simply don't know what they don't know about workers' compensation pharmacy and how it seriously impacts their bottom line. The reason is that between 40 to 50 percent of pharmacy is dispensed and billed by physicians, and that third party administrators (TPAs) simply do not know what the employer is actually spending." If the employer and TPA are not managing the spend, they certainly can't manage the appropriate clinical utilization of the drugs by treating doctors. 

The report outlines a series of best practices to help risk and claims managers curb the problem.

You can get the full report free at www.lockton.com or the full link is http://www.lockton.com/Insights-And-Publications/White-Papers/Opioids-Wreak-Havoc-on-Workers-Compensation-Costs.

In addition, there is an extended version of this report called Risk and Claims Managers' Comprehensive Guide to the Management of Pharmacy Benefits that is available by contacting your Lockton representative.

About Lockton
More than 4,450 professionals at Lockton provide more than 15,000 clients around the world with insurance, benefits, and risk management services that improve our clients' businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held insurance broker in the world and 9th largest overall. Independent researcher Greenwich Associates awarded Lockton its 2011 Service Excellence Award for risk management for large companies. For three consecutive years, Business Insurance has recognized Lockton as a "Best Place to Work in Insurance." To see the latest insights from Lockton's experts, check Lockton Market Update.


'/>"/>
SOURCE Lockton
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. China Botanic Reports Third Quarter Fiscal Year 2012 Results
2. Unigene and Tarix Pharmaceuticals Report Highly Increased Oral Bioavailability of "Peptelligence-engineered" TXA127
3. Misonix Reports Strong Revenue Increases for the Three Months and Full-Year Ended June 30, 2012
4. Varian Medical Systems Publishes 2012 Sustainability Report Outlining Environmental, Charitable, Safety and Health Access Achievements
5. Champions Oncology Reports Financial Results for the Quarter Ended July 31, 2012
6. Neurotech Reports Announces New Conference Dedicated to Consumer Applications of Neurotechnology
7. QYresearchReports.com - Global and China Synthesis Polypeptide Drug Industry 2012 Deep Research Report
8. HealthWarehouse.com Reports 38% Year-Over-Year Revenue Growth in the First Quarter 2012
9. Pharmacyclics Reports Fourth Quarter and Full Year Fiscal 2012 Financial Results and Recent Developments
10. Cell Therapeutics, Inc. Reports Results of Annual Meeting of Shareholders
11. MGC Diagnostics Corporation Reports Third Quarter Fiscal Year 2012 Operating Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016 Research and ... Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), ... Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is projected ... CAGR of 6.1% in the forecast period 2016 to ...
(Date:6/23/2016)... 23, 2016 Roche (SIX: RO, ROG; OTCQX: ... its Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated ... shock. With this clearance, Roche is the first IVD ... solution for sepsis risk assessment and management. ... and PCT levels in blood can aid clinicians in ...
(Date:6/23/2016)... ANGELES , June 23, 2016 ... CAPR ), a biotechnology company focused ... therapeutics, today announced that patient enrollment in its ... in Duchenne) has exceeded 50% of its 24-patient ... enrollment in the third quarter of 2016, and ...
Breaking Medicine Technology:
(Date:6/27/2016)... Overland Park, KS (PRWEB) , ... June 27, 2016 , ... ... leader in retailers of Eyeglasses . , Millions of individuals in the United ... life, eyeglasses have become a way to both correct vision and make a fashion ...
(Date:6/26/2016)... , ... June 26, 2016 , ... PawPaws brand ... new product that was developed to enhance the health of felines. The formula is ... The two main herbs in the PawPaws Cat Kidney Support Supplement Soft ...
(Date:6/25/2016)... ... , ... Austin residents seeking Mohs surgery services, can now turn to Dr. ... Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include ... in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn ...
(Date:6/25/2016)... , ... June 25, 2016 , ... As a lifelong ... Cum Laude and his M.D from the David Geffen School of Medicine at UCLA. ... to Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... A recent ... that most people are unfamiliar with. The article goes on to state that individuals ... also many of these less common operations such as calf and cheek reduction. The ...
Breaking Medicine News(10 mins):