In its most recent annual survey of the Top 25 Drugs in Workers' Compensation, The Hartford reports that overall pharmaceutical costs for its workers' compensation clients decreased during 2005. This dip, according to the company's research data, is linked in part to the greater availability of generic substitutes, especially for the most popular and expensive name-brand drugs.
"The emergence and increased use of generic substitutes for OxyContin and Neurontin , two of the more expensive and widely used drugs for treating pain in workers' compensation cases, is having a significant effect on pharmaceutical costs," said Dr. Robert Bonner, medical director for The Hartford. "In addition, the withdrawal of the popular Cox-2 inhibitors Bextra and Vioxx, which were frequently taken to manage pain and inflammation, is helping to drive down pharmacy costs for patients receiving care under this system."
While The Hartford had been reporting progressively smaller annual increases since the first study was published in 2001, this past year marked the first time ever that costs actually declined slightly -- by about 1 percent.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.