ACOs were established to allow physicians, hospitals and other health care providers join together to deliver coordinated care and reduce unnecessary expenditures associated with practicing medicine. One of the costliest expenditures for health care providers is Medical Malpractice insurance.
One way ACOs can integrate and reduce costs for their members is to establish a proprietary Medical Malpractice insurance program.
5 benefits from implementing a Medical Malpractice insurance program for your ACO:
- Cost Savings for Members
Creating an exclusive insurance program with an A.M. Best “A” rated carrier for your members could reduce their Malpractice insurance premiums by 20% to 40% (or even more in some circumstances). This program would mitigate the financial strain that comes with purchasing professional liability insurance.
- Risk Management Benefits
This program would offer specific, exclusive risk management offerings for all members which members may not have been eligible for if they purchased coverage individually outside of the ACO. Offerings such as personalized seminars, onsite consultations, risk management courses, other tools and general support.
- Assists with ACO Recruitment
Offering a discounted Medical Malpractice insurance program to your members would differentiate your ACO’s benefits when recruiting new providers to join.
- Claims Handling
Our markets have dedicated and experienced claims representatives, contract with local expert counsel, and utilize expert witnesses to provide an aggressive claims defense.
- No COST to your ACO to Implement
There are no fees associated with creating and implementing a Medical Malpractice insurance plan for your ACO.
Your ACO’s success is based upon your provider members’ participation. By implementing an exclusive cost savings Medical Malpractice insurance program, you are not only providing your members with insurance coverage at a discounted rate, but also ensuring the member’s assets and reputations are protected by the most financially stable carriers offering the most outstanding risk management and claims handling available in the market.