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Progressive Medical Releases 2013 Drug Trend Report
Date:4/17/2013

WESTERVILLE, Ohio, April 17, 2013 /PRNewswire/ -- Progressive Medical, Inc., a workers' compensation pharmacy benefit manager (PBM) and ancillary services provider, announces the release of its 2013 Workers' Compensation Drug Trend Report. The annual report helps payors understand what trends in prescription medication spending mean to their organizations and showcases the performance of the company's book of business and the value its programs deliver to clients.

Key highlights from the 2013 Drug Trend Report include:

  • Overcoming inflation in average wholesale price (AWP) of 5.5%, the company reduced the overall number of prescriptions per claim by 2.0% and decreased days' supply per prescription by 0.8% while product and claim mix further augmented savings by 3.2%. The net impact was a 0.5% overall reduction in medication spend.
  • Network efficiencies derived from the company's affiliation with StoneRiver Pharmacy Solutions (SRPS) continue to have a positive impact on control, utilization and spend as the company once again achieved up to 98% retail pharmacy network penetration. The real-time integration of proprietary Medication Plans, drug utilization review edits and common eligibility criteria at the point of sale is driving additional cost reductions and helping to ensure that the injured worker receives the right drug at the right time.
  • The use of advanced analytics techniques to predict potential high-cost, high-risk claims, along with the use of a patent-pending statistical model to guide clinical decision making, is reaping significant benefits for payors and injured workers alike. Results of the early intervention program launched last July reveal a 15% reduction in morphine equivalence per claim and a 36.9% reduction in the prescription cost per claim just two months after intervention.
  • As further evidence of its positive influence
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SOURCE Progressive Medical, Inc.
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