Success credited to a combination of its proprietary Early Severity
Predictor® model and on-staff pharmacists
Company Website:
http://www.travelers.com/
HARTFORD, Conn. -- (Business Wire)
The Travelers Companies, Inc., (NYSE: TRV)
reported today a 30 percent reduction in the use of opioids among the
more than 500,000 injured U.S. employees it has helped since 2015. This
has been achieved primarily through the use of the company’s Early
Severity Predictor model. The model identifies the likelihood that
someone will develop chronic pain – a leading cause of opioid dependency.
Travelers shares the Early Severity Predictor results with the
injured employee’s physician allowing them to identify effective
treatment alternatives, like physical therapy, and in some cases surgery
is avoided to help ensure a safe recovery without the prolonged use of
opioids. Since January 2016, surgeries for the company’s workers
compensation cases have fallen by 25 percent, and those who received
alternative treatment methods recovered and returned to work 10 percent
faster than those who did not.
“Surgical procedures used to correct common workplace injuries are
oftentimes followed by an opioid prescription for pain,” said Dr. Adam
Seidner, Global Medical Director at Travelers, who is also an addiction
specialist. “Physical therapy and other treatments limit the employee’s
exposure to opioids and often produce better long-term medical outcomes.”
Travelers, the nation’s largest workers compensation carrier, has helped
employers reduce medical expenses on identified claims by up to 50
percent since it implemented the Early Severity Predictor model
in the beginning of 2015. The company typically handles approximately
250,000 workers compensation claims each year.
Travelers’ in-house pharmacy management program has also contributed to
these results. The company’s claim professionals use detailed
information gained from training with on-staff pharmacists to assess the
merits of requests for pharmaceutical payments and identify the
potential for overusing opioids and dangerous drug interactions.
For more information about workers compensation products and services
from Travelers, visit www.travelers.com.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto,
home
and business.
A component of the Dow Jones Industrial Average, Travelers has
approximately 30,000 employees and generated revenues of approximately
$28 billion in 2016. For more information, visit www.travelers.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170809005335/en/
Contacts:
The Travelers Companies, Inc.
Robert DeMallie, 860-277-9026
rdemalli@travelers.com
Source: The Travelers Companies, Inc.
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