Do reports get looked at?

So I'm currently S4, working towards S3, and while I play nowhere near perfect, I don't ever intentionally feed and I try to be toxic. My question is do reports actually get looked at? I've lost faith reporting toxic people (whether they are toxic to myself or others) and don't ever report anymore because I truly feel like nothing actually happens to these players. I'd like to get feedback from Riot to see how it works and see how we can make the community better and have less people get upset from constant flaming, especially in low elo where it is extremely common