Advisory Council Gives Nod to 2.7% Rate Decrease Based on Formulary

The Tennessee Advisory Council on Workers' Compensation has recommended approval of a 2.7% decrease in loss costs based on the projected impact of a closed drug formulary adopted earlier this year. The formulary, which is based on the Work Loss Data Institute's Official Disability Guidelines, takes effect for new prescriptions on Aug. 28 and for refill prescriptions on Feb. 28, 2017. The Tennessee Bureau of Workers' Compensation also adopted the ODG medical treatment guidelines. In a "law-only" rate filing based on the impact of the drug formulary only, the Nationa...