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Seven Things To Know About The New York Workers' Comp Pharmacy Formulary

Posted by Genex on April 30, 2018

In the past, we’ve presented on implementation of workers’ compensation formularies in Texas, Tennessee, Oklahoma, and California — as well as “formulary-esque” prior authorization requirements in multiple other states. While formularies have been a hot topic within the industry for several years now — particularly as more and more states start to look for ways to deal with the nationwide opioid epidemic — we’ve gotten an unusually high number of requests for additional information on the formulary proposed by the New York Workers’ Compensation Board (WCB). This is likely because the first implementation date for the formulary is currently set for July 1, 2018.

To be clear, this article is just intended to be an overview. It offers a ny-formulary-prium-covergeneral summary of a few important aspects of the formulary. There’s a lot of discussion to be had on how the final rules will impact existing cost-containment strategies in this state, but that’s probably better addressed in a more in-depth presentation that takes into account the existing strategies of the payer and the payer’s existing relationships with their vendors. If you’d like a more in-depth presentation on this issue, let us know, but for those who are just looking for some top-level information on the proposed rules as they currently stand, we hope that this piece will help.

Topics: Compliance