When it comes to getting a handle on its total pharmacy experience, the workers' compensation industry has been looking down the wrong end of the telescope. By focusing primarily on transactions that pass through their pharmacy benefit management (PBM) network channels - the current norm - employers and their payors are missing out on material opportunities to identify at risk claims and control transactional costs, as well as opportunities to apply appropriate clinical controls and otherwise influence injured worker outcomes for the better. Just as important, employers and their payors are unable to effectively gauge their existing program's performance or to identify the right areas for focus and improvement. This narrow lens also compromises a buyer's ability to compare product offerings when available PBMs define and measure their penetration and impact in proprietary ways...Read more
Featured on WorkCompWire, November 9, 2015
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