Today’s issue of WorkCompRecap features the TDI-DWC’s recent release of its biennial report on the state’s workers’ comp system, which noted that the system experienced marked improvement as a result of significant legislative reforms in 2001 and 2005.
Key findings from the report included that the non-fatal occupational injury and illness rate in Texas decreased 36% from 3.6 to 2.3 injuries per 100 full-time employees since 2005, and that since 2003, workers’ comp insurance rates have dropped nearly 56%. The DWC also noted the success of the closed formulary in reducing the number of claims receiving “N” drugs by 67% from 2011-2012, and reducing total pharmacy costs by 15% from in the same period. Cost reductions for only the N category were even more significant.
Find out more (including a link to the free report!) by clicking here!