An examination of workers compensation pharmacy data showed a 1.06% increase in drug prices for injured workers between May 2020 and May 2023, according to a white paper released Thursday by MyMatrixx, a Jacksonville, Florida-based pharmacy benefits manager and subsidiary of Express Scripts Holding Co.
MyMatrixx said the data showed that comp drug price increases are “far below the 5.44% inflation rate reported by the U.S. Bureau of Labor Statistics consumer price index.”
Analysts, using MyMatrixx data only, also found that traditional drugs, such as opioids, nonsteroidal anti-inflammatory drugs, muscle relaxants, anticonvulsants and antidepressants represent 95% of prescription volume but 87% of price, while specialty drugs account for 0.7% of volume but 7% of price.
The paper also said pharmacy benefits management saw 90.97% lower-cost generic drug utilization, which helped drive costs down. That figure climbed steadily from 86.76% reported in 2018.