Texas-style drug formulary could help other states reduce comp costs: Study |

State workers compensation systems could benefit from following Texas and adopting a closed drug formulary, according to a benchmarking report released Wednesday by the Workers Compensation Research Institute. Cambridge, Massachusetts-based WCRI found that implementing a Texas-like closed drug formulary — a limited list of covered medications — could reduce the prevalence and cost of drugs in 23 states studied by requiring prior-authorization for non-formulary drugs, including opioids such as OxyContin, Opana, Exalgo, Avinza, Kadian and Zohydro.

Texas-style drug formulary could help other states reduce comp costs: Study

Join the Conversation on Linkedin | About PEO Compass

The PEO Compass was founded by Paul Hughes in 2012. The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better. All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

To contact a PEO expert, please visit Libertate Insurance Services, LLC and RiskMD.