Tuesday, December 20, 2011

Work Comp, from the Outside Looking In

I’m a “health care” guy.  When I graduated from college, I had no idea what I wanted to do, but I had a feeling something in the business arena would suit me.  By sheer luck (seriously), I got a job at a world class management consulting firm where I would provide strategic advice to Fortune 100 companies in the financial services, consumer packaged goods and other sectors.  I could sample lots of industries and then settle in to one I liked. 
Every major project I worked on, again by sheer luck, was in the health care space.  A little pharma, some medical device, lots of group health, a bit of health IT, a brief stop to get an MBA, a stint on the hospital provider side, and a little private equity sprinkled in… and I was hooked.  Health care was a huge, sticky, complicated mess and I became committed to trying to “figure it out” – one piece at a time.  
As the newly named Chief Marketing Officer of PRIUM, a workers’ compensation utilization review company, I am becoming increasingly aware that work comp is a complicated and fascinating niche within the health care space.  (Full disclosure:  I’ve been on the operations side here at PRIUM for a year and a half, so I’m not brand new to the space – but I’ve only recently found myself out in the marketplace having candid conversations with customers.  And isn’t that where the real learning happens?)
I’m excited about this new opportunity.  PRIUM isn’t like any other UR company in the space today.  While we do traditional UR better, faster, and more reliably than anyone, I’m most excited about our growth in the area of prescription narcotics control.  We’ve grown from our historical focus on peer-to-peer discussion in the UR process and assembled an integrated program to ensure the appropriate use of prescription narcotics.  We’ve linked physician-led peer review, nurse oversight, pharmacy formularies, and a genuine cultural commitment to stopping the inappropriate use of these drugs.   Together, we call this our Qualified Medical Intervention Program and it’s giving our customers $6 back for every $1 they spend on our interventions.  Read that last sentence again.  That’s right, 6 to 1 return on investment. 
So my colleague Mark Pew and I will be chiming in here from time to time regarding our thoughts, experiences, and our perspectives on the industry.  We’re doing this as much for ourselves as for any potential readers, so if it helps enlighten or clarify in any way, that’s a bonus. 
Looking forward to 2012…  MG

On Twitter @PRIUM1

No comments:

Post a Comment