Basics of Workers' Compensation Pharmacy Benefit Management
Work Comp Pharmacy 101
Workers' compensation pharmacy benefit management can be complex, especially when trying to understand key terms. We’ve put together this library of short pharmacy videos to help you learn more about some of the key concepts often discussed in workers’ compensation. In these videos, Dr. Mitch Freeman, Pharm.D., breaks down these concepts into easy to understand tutorials.
What Is MED?
MED stands for Morphine Equivalent Dose and is an important consideration when prescribing opioids. Learn how MED is used to determine the potency of a particular opioid, plus how to calculate the MED of an opioid.
What Is AWP?
AWP, or Average Wholesale Price, is the suggested wholesale price of a drug. Curious how AWP is assigned and used in workers' compensation? Watch the video below to learn more.
What Are Compound Medications?
Compound medications are one issue in workers’ compensation that many stakeholders have worked to mitigate in recent years. Learn how compound medications are made and why their creation and cost create challenges for the workers’ compensation system.
What Is a Formulary?
Formularies are one method being used by states to help combat issues such as compound medications and opioid overprescribing. Watch this video to learn more about what formularies are and how they are used in workers' compensation.
How Do Workers' Compensation PBMs Differ from Group Health PBMs?
Workers' compensation differs from group health in many ways, including in pharmacy benefit management. Learn about these differences, including how coverage differs.
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