Advancing Healthcare Excellence: Risk Management and Human Capital Solutions for Modern Healthcare Organizations
From patient care to digital transformation, we understand the complex risks facing today's healthcare operations. We’ve created a Financial Impact Report that focuses on aligning your business objectives with Risk Management and Human Capital solutions.
First, we ground our understanding of your business in the context of what is happening today in the wider industry…
Risk Management
Healthcare companies are facing increased regulatory scrutiny and potential policy shifts under the new administration, necessitating proactive risk management strategies.
The appointment of vaccine-skeptic Robert F. Kennedy Jr. as head of the Department of Health and Human Services signals potential challenges for vaccine manufacturers and related sectors.
Source: Barron's
2024
2024
Employee Benefits
Rising healthcare costs are prompting employers to reassess and adjust employee benefit structures to manage expenses effectively.
Employer health insurance premiums have increased by 7% annually over the past two years, bringing the average family premium to approximately $25,500.
Source: The Wall Street Journal
2024
2024
Insurance
Health insurers are experiencing financial pressures due to policy changes and increased medical costs, impacting profitability and operational strategies.
UnitedHealth Group's stock declined by 9% despite higher-than-expected profits, attributed to rising medical costs and a higher medical-loss ratio of 85.2%.
Source: The Wall Street Journal
2024
2024
Risk Management
The healthcare sector is contending with workforce shortages, necessitating strategic planning to mitigate operational risks and maintain service quality.
By 2028, the U.S. is projected to have a shortage of 100,000 healthcare workers, approximately 0.6% fewer than needed, with certain states facing more severe deficits.
Source: Advisory
2024
2024
Employee Benefits
Employers are increasingly adopting telehealth services as part of employee benefits to enhance access to care and control costs.
Telehealth usage has stabilized at levels 38 times higher than pre-pandemic, indicating its entrenchment in healthcare delivery models.
Source: Wikipedia
2024
2024
We search for both Visible and Hidden Risks in your operations.
Visible Risks
- Professional Liability/Medical Malpractice
- Property Damage (Facilities, Equipment)
- Workers' Compensation
- Cyber Security/Data Breach
- Employee Benefits
- Vehicle Fleet (Ambulances, Mobile Units)
Next, we apply our EBITDA Edge framework to your business…
1
Discovery
- Comprehensive healthcare operation analysis
- Clinical risk assessment
- Historical claims pattern review
- Technology infrastructure evaluation
- Regulatory compliance audit
2
Risk Mitigation
- Patient safety programs
- Clinical risk management protocols
- Staff safety training programs
- Infection control procedures
- Quality assurance programs
3
Modeling & Analytics
- Claims frequency analysis
- Patient outcome metrics
- Operating cost optimization
- Revenue cycle impact analysis
- Risk-adjusted performance metrics
4
Claims Process
- 24/7 incident reporting systems
- Electronic record integration
- Rapid response protocols
- Root cause analysis
- Professional liability defense
5
Risk Transfer
- Professional liability optimization
- Cyber liability protection
- Alternative risk financing
- Excess and umbrella structuring
- Captive program development
We focus on the business drivers that impact your business…
-
Service line development
Telehealth integration
Population health management
Strategic partnerships
Geographic expansion
Technology adoption
Value-based care transition
Patient experience enhancement
-
Clinical quality metrics
Supply chain management
Technology infrastructure
Workforce development
Regulatory compliance
Patient safety initiatives
Emergency preparedness
Infection control protocols
-
Revenue cycle optimization
Capital equipment planning
Facility expansion strategies
Merger/acquisition support
Cost containment programs
Reimbursement optimization
Value-based payment models
Working capital management
Lastly, to execute on our goals, we’ve created a suite of world-class tools customized specifically for the healthcare industry…
Risk Mapping Edge
Comprehensive analysis of healthcare operations to identify and address unique risk exposures across your entire organization.
- Detailed mapping of clinical service lines and associated risks
- Technology infrastructure and cybersecurity risk assessment
- Patient safety and quality of care risk evaluation
- Regulatory compliance and accreditation requirements
- Professional liability exposure analysis
Risk Insight Edge
Strategic analysis of healthcare industry trends and emerging opportunities in modern healthcare delivery.
- Telehealth and digital health integration opportunities
- Value-based care transition strategies
- Population health management innovations
- Healthcare technology advancement impacts
- Emerging care delivery model analysis
Market Intelligence Edge
Deep understanding of healthcare insurance markets and rate environments across different coverage lines.
- Professional liability market condition tracking
- Cyber liability coverage analysis
- Regulatory impact on market pricing
- Carrier appetite for healthcare risks
- Emerging coverage solutions monitoring
Pricing Edge
Strategic approach to optimizing insurance costs through clinical risk improvements and market positioning.
- Patient safety initiatives for premium reduction
- Clinical risk management program development
- Claims management and defense strategies
- Alternative risk financing solutions
- Experience rating optimization strategies