PRIUM Guarantees ROI on Workers’ Compensation Medical Intervention Services
PRIUM is the first workers’ compensation company to guarantee a return on investment on pharmaceutical utilization management services
ATLANTA--(BUSINESS WIRE)--PRIUM has announced a return-on-investment guarantee on its workers’ compensation medical intervention services for reducing inappropriate medications on a book of claims.
“We’re comfortable offering an ROI because PRIUM and its parent company, Ameritox, own the services involved in our integrated medical intervention approach”
“PRIUM’s history of success in addressing the issue of prescription drug misuse and abuse in work comp allows us to offer something no other company can: a guaranteed ROI,” said PRIUM’s President Michael Gavin.
During a two-year ROI pilot program, PRIUM generated quarterly reports that showed hard savings from the discontinuation or reduction of clinically inappropriate medications. When compared to the cost of PRIUM’s services, the aggregate ROI (actual medication cost savings versus PRIUM’s fees) consistently exceeded three to one.
“We’re comfortable offering an ROI because PRIUM and its parent company, Ameritox, own the services involved in our integrated medical intervention approach,” Gavin said. “This gives us the ability to ensure that appropriate methodologies are used to enact the changes needed to help injured workers regain function.”
To participate in the ROI guarantee, payers agree to use PRIUM and Ameritox services when they implement medical management services that are offered by PRIUM and its parent. These services include physician engagement through peer review, drug regimen enforcement through case management oversight and customized formularies, urine drug monitoring, utilization review, independent medical exams, and jurisdictionally specific methods for managing claims when other methods fail. If payers in the program do not attain the agreed-upon ROI on a book of claims, PRIUM will refund a portion of fees paid to achieve the guaranteed return.
For more information about this new service, please go to www.roiguarantee.com.
An Ameritox solutions provider, PRIUM sets the industry standard for workers’ compensation medical interventions through its ability to secure higher agreement rates and to help ensure compliance with modified treatment plans. The hallmark of the medical intervention company’s success is a collaborative physician engagement process encompassing evidence-based medicine, clinical oversight, and jurisdictional guidelines to facilitate optimal financial and clinical outcomes. PRIUM helps eliminate unnecessary treatment through a comprehensive approach that includes complex medical interventions, utilization reviews, urine drug monitoring, and independent medical exams.