Is Opioid Misuse Affecting Workers’ Compensation Costs?
Wisconsin spends a lot on workers’ compensation costs. In fact, a recent report from the Workers Compensation Research Institute (WCRI) shows that Wisconsin ranks among the highest of the 26 states studied in terms of the overall amount of drugs prescribed for work related injuries, as well as the overall cost of prescription drugs. More specifically, the study indicates Wisconsin spends the most on opioid prescriptions, a finding that should raise eyebrows given the nationwide opioid abuse epidemic.
And apparently it has. The Wisconsin Worker’s Compensation Advisory Council (WCAC) has been paying close attention to current opioid prescription practices. Findings like those revealed in the recent WCRI report have compelled the WCAC to develop a set of bill proposals for the current legislative session designed to counter the opioid abuse problem.
Whatever the fate of the WCAC’s proposals, given the prevalence of opioid prescriptions in Wisconsin and the rise in opioid abuse, it may be a good time to revisit your company’s drug policies. Contact your M3 Account Executive to learn more.
Request the White Paper
The M3 team is committed to keeping clients in-the-know regarding issues and trends potentially affecting their business. Opioid abuse and its effect on workers’ compensation costs has unfortunately become a widespread issue. A white paper recently written by M3 advisors entitled, “Is Opioid Misuse Affecting Your Workers’ Compensation Costs?” outlines the problems, legislative proposals, and suggested actions for all businesses and organizations to consider. To receive a copy of the white paper, contact your M3 Account Executive or request one here. (Please reference ‘WC Opioid White Paper’ within the comments area of the form.)