Austin, TX (WorkersCompensation.com) - Texas Mutual Insurance Company was recently named a high performer by the Texas Department of Insurance, Division of Workers' Compensation (DWC) during the DWC's fourth Insurance Carrier Performance Based Oversight (PBO) assessment.
Insurance carriers were assessed on the timeliness of:
Medical bill processing
Payment of the initial Temporary Income Benefits (TIBs) check
Reporting medical billing data
Reporting the initial payment of TIBs to the DWC
“Texas Mutual prides itself on setting the standard in compliance,” Ron Wright, president of Texas Mutual, said. “This high-performer designation reflects our employees' hard work and dedication to ensuring the workers' compensation system effectively serves the people of Texas.”
As part of the overall compliance plan, the DWC assesses the performance of insurance carriers in meeting the key regulatory goals established by the Commissioner of Workers' Compensation. The key regulatory goals align with the general regulatory goals of the DWC, such as improving workplace safety and return-to-work outcomes, supporting timely payment of benefits, and increasing communications among system participants.
Based on the PBO assessment, insurance carriers are placed into regulatory tiers: poor performers, average performers and consistently high performers. The DWC will focus its regulatory oversight on the poor performers, as well as offer incentives within each tier that promote greater overall compliance and performance.
A total of 110 insurance carriers were reviewed. The assessment deemed 21 commercial insurance carriers as high performers.