BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Workers compensation premiums in California are expected to remain flat in 2017 after doubling between 2009 and 2015, according to a report released Wednesday by the California Workers’ Compensation Research Institute.
Premiums continued to grow in 2016 by 3%, but slower than the double-digit growth since 2010, the report showed. Analysts during an institute webinar on Thursday afternoon said lower rates are to blame for the lack of premium gains, yet growth in the economy has helped level premiums.
A countrywide comparison show that California continues to have the highest rates among states at $3.24 per $100 of payroll in 2016 compared to the national median of $1.84, per a report from Oregon, which studies state data every two years.
California’s higher rates can be attributed to high frequency of permanent disability claims at more than double the national median, high medical costs per claim, a more prolonged pattern of medical treatments, and “much higher-than-average costs of handling claims and delivering benefits,” the report states.
Meanwhile, average pharmaceutical costs paid per transaction in California decreased by 26% in 2016, due largely to changes in federal government drug pricing. The report also showed that opioid transactions are also down: $5,129 per 100 claims in 2016 compared with $8,871 in 2015 and down to one-third of what was spent in 2013.
Analysts said on Thursday they do not yet know how the upcoming workers comp drug formulary in California will further affect pharmacy costs.
Stakeholders called for more tweaks to California’s proposed workers compensation drug formulary, which is slated to go into effect in January 2018 and still needs refining of provisions for weaning injured workers off drugs that would be exempt from prescribing under the new rules, according to several commentators.