GO-TIME: L&I Renegotiates State Workers Insurance Fund Generic Drug Pricing, Saving $275,000 Annually
February 17, 2017
Harrisburg, PA – The Pennsylvania Department of Labor & Industry (L&I) has renegotiated the pricing of generic drugs through the State Workers’ Insurance Fund (SWIF), a move that is expected to save more than $275,000 annually.
“Part of our challenge every day is looking for ways to save and conserve precious resources,” said L&I Secretary Kathy Manderino. “Looking for cost-savings and efficiencies that save the SWIF fund money is good business.”
SWIF was established by law an assured source of workers’ compensation insurance for the employers and workers of Pennsylvania. SWIF negotiates annually with drug manufacturers to provide the lowest prescription drug prices to workers who were injured on the job and receive medical coverage through the fund. The five percent discount negotiated by SWIF will result in an annual saving of more than $275,000.
For more information about the Pennsylvania State Workers’ Insurance Fund, visit the Labor & Industry website at www.dli.state.pa.us/swif.
The Governor’s Office of Transformation, Innovation, Management and Efficiency (GO-TIME) is working to modernize government operations in order to reduce costs and improve services. GO-TIME works with agencies to identify opportunities to share resources, collaborate and engage employees in transformation.
Efforts through this initiative saved more than $156 million in FY 15-16, exceeding the $150 million savings goal set by the Governor. The Governor is now challenging GO-TIME to build upon this success by achieving $500 million in savings by 2020.
To learn more about GO-TIME, visit https://www.governor.pa.gov/go-time/.
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