Health Care Sector Update for 03/16/2015: NBY, SLXP, ACRX - NASDAQ.com
If I call it "X,' I get paid. If I call it "Y,' I don't get any additional payment. Employers in states without workers compensation medical fee schedules tend to spend more on medical management services and litigation to control http://alex-simring.hubpages.com/ claim costs, according to separate research by Cambridge, Massachusetts-based WCRI. While defense attorneys and medical management services can limit workers comp indemnity and medical claim costs, employers should consider where the expenses for such services are outweighing claim savings, said Carol Telles, a senior analyst at WCRI. Increased use of medical management may help reduce medical costs or cost growth, but there are costs associated with doing that, and those costs have to be considered, Ms. Telles said. She highlighted medical management costs in New Jersey, which does not have a workers comp medical fee schedule and does not require medical cost containment tools, such as utilization review or medical treatment guidelines. New Jersey saw increased use of medical provider networks for workers comp in 2011, which resulted in a leveling of medical costs in 2012 and 2013, Ms. Telles said. However, medical management costs rose from 21% of New Jersey's workers comp medical costs in 2011 to 23% in 2013, the most recent year studied. Employers also are prone to pay more litigation costs in states with complex workers comp dispute resolution processes or where it is difficult to appeal comp medical opinions, such as California, Louisiana and Georgia, WCRI data shows.
The biopharmaceutical company said it has trained a new medical sales force of 15, following up on Q3 2014 and Q4 2014 Avenova sales of $90,000 and approximately $219,000, respectively. Salix Pharmaceuticals ( SLXP ) and Valeant Pharmaceuticals ( VRX ) said they have agreed to amended terms for their merger. VRX has agreed to pay $173 per SLXP share in cash, up from its prior offer of $158. If the minimum tender condition is satisfied at the end of the day on March 31, VRX expects to close the transaction on April 1. SLXP was up 2.7% at $173.99 during recent pre-market trading. Over the past 52 weeks, the stock has traded between $86 and $172.98. AcelRx Pharmaceuticals ( ACRX ) shares climbed in Monday's pre-market session after the specialty pharmaceutical company focused on therapies for the treatment of acute pain said it has dosed the first patient in its Phase 3 study of ARX-04, a handheld applicator that allows health-care professionals to administer tablets to a patient's sublingual space to manage moderate-to-severe acute pain. Over the past 52 weeks, the stock has traded between $3.95 and $13.40. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc. Copyright (C) 2014 MTNewswires.com.