In August, EpiPen maker Mylan announced plans to raise the cost of EpiPens (which deliver a life-saving drug to instantly combat life-threatening allergic reactions) an astounding 400 percent. Mylan’s decision to increase the price of its medication made headlines primarily because the one-time increase was so enormous. However, prescription drug prices have been rising steadily, across the board, in terms of absolute dollars and percentage of medical costs, according to the Workers’ Compensation Insurance Rating Bureau.
While prescription drug prices are increasing, surprisingly, prescription drug spending associated with workers’ compensation claims is decreasing. According to the CompPharma’s Annual Survey of Prescription Drug Management in Workers’ Compensation, prescription drug spending in workers’ comp injury cases dropped nearly 9 percent in 2015. With the implementation of a 24/7 Nurse Triage Telephonic Hotline, here’s how your business can reduce your spending.
A Smarter Approach
One reason why companies are saving money on workers’ comp-related prescription drug costs is because they’re becoming smarter about care. Rising health care costs have prompted employers to rethink their approaches to workers’ comp injuries. Instead of sending every injured employee to an emergency room or urgent-care clinic, more employers are turning to telephonic nurse triage services, most notably Company Nurse.
A workplace injury can be mentally taxing for an individual. Emotions can kick in and cloud rational thinking. With distraught patients present at busy emergency rooms – perhaps complaining of severe pain – emergency room personnel often calm them with prescription medications that are on-hand and convenient.
With the expertise of nurse triage at the point of injury, patients receive proper care advice immediately, often reducing the need for emergency intervention altogether. Employers are able to avoid filing costly workers’ comp claims, and employees receive individualized, immediate care that’s crucial for the best outcome.
Individualized Care from the Very Beginning
When a patient receives expert advice from a telephonic triage nurse, the professional on the other end of the phone is a calming, reassuring presence. As the initial shock and adrenaline surge from the incident wears off, sometimes it becomes clear that prescription pain medications (opioids) aren’t necessary. A rational approach from the beginning can prevent a cycle of costly, unnecessary, and potentially addictive prescription medications.
About Company Nurse
At Company Nurse, we help employers address work injuries immediately. We provide medical expertise at the point of injury, so injured employees are channeled to the most appropriate level of care by qualified, compassionate and trained registered nurses. If our nurses identify an injury, we will report it to everyone on the distribution list so they can perform their respective jobs with maximum efficiency. For information on how you can experience a 20 percent reduction in reported claims, and a total claims cost savings of up to 30 percent, contact us today at (855) 488-5337.