Financial Services Industry
Industry: Email Alert RSS FeedDoctors' prescription proliferation hikes workers' compensation cost.(Drug Trends)
National Underwriter Life & Health-Financial Services Edition, September, 2003 by Hays, Daniel
A surge in prescription activity by doctors is having a greater impact on the cost of treating injured workers than the price of drugs, according to new research from the National Council On Compensation Insurance.
The findings were made in the report "Prescription Drugs: Comparison of Drug Costs and Patterns of Use in Workers Compensation and Group Health Plans."
Among the other key findings were figures showing that workers' compensation systems paid roughly 125% of the average wholesale price of prescription drugs, while group health operations paid 72%.
The report also said that the prescription drug share of workers' comp medical costs rose from 6.5% in 1997 to 9.6% in 2001, using the year the accident occurred.
It was noted...
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