TAMPA, FLA. (June 13, 2012) — Legislation currently being considered in the New York Senate and Assembly (S.3749 and A.5183) will increase employers’ costs, eliminating the pharmacy savings from 2007’s workers’ compensation reforms, according to Joseph Paduda, president of CompPharma, an organization of workers’ compensation pharmacy benefit managers (PBMs).
Since the reforms, PBMs have been working with payers and pharmacies to ensure patient access to medications while also reducing the price of prescriptions. According to the Workers’ Compensation Research Institute’s Dec. 2011 Research Bulletin, reforms decreased the average price per pill between 10 and 20 percent.
Routing a prescription through a PBM and its pharmacy network increases patient safety, alerting the pharmacist and payer to potentially harmful medication issues, such as drug-to-drug interactions, narcotic overuse/abuse and potential prescription fraud or diversion. Prescriptions filled outside pharmacy networks and PBMs do not undergo these safeguards. Continue reading CompPharma Fights Attempt to Eliminate Pharmacy Savings in Workers’ Comp