Workers Compensation Related to Price of Drugs

Staff Writer, April 24, 2009

A recent report, released in Tampa, Florida found that the rate of injuries and illnesses from the workplace have dropped dramatically in the past several years. This is most likely due to enhanced safety measures and practices. However, many employers continue to complain about the rising cost of workers’ compensation payment, despite this drop.

This spike is generally thought to be caused by the rise in the cost of prescription medications. According to the report, over 14 percent of all medical spending can be attributed to pharmacy costs. This raised by 5.4 percent in 2008 alone. The increase in 2008 was attributed to reduced availability for generic versions of Oxycontin, a popular painkiller.

According to the release, “The top five most prescribed drug classes were narcotic analgesics, anticonvulsants, non-steroidal anti-inflammatory drugs, skeletal muscle relaxants and antidepressants. Those five combined represented 70 percent of total pharmacy costs and 74 percent of total transactions in 2008.”