For healthcare organizations, when patient safety and quality outcomes are at risk, today’s environment requires a different approach. Data analytics is increasingly playing a critical role in providing the intelligence and risk-mitigation solutions that can improve processes and outcomes.
One company focused on this data-driven approach is Coverys, a leading provider of medical liability insurance. Coverys has invested significant resources in analyzing nearly 10 years of medical malpractice claims to identify the root causes underlying adverse clinical outcomes.
With the goal of identifying the “why” behind each claim, Coverys’ comparative benchmarking database allows for healthcare organizations and hospitals to understand potential risks and also compare their experience with peer entities.
The first of four steps in Coverys’ Value-Based Model identifies prominent risk signals. From there, the Coverys team can conduct an assessment to help identify the presence of common risk signals in healthcare organizations. Next, following the evidence, Coverys offers proactive educational and best-practice models for organizations to implement. The last step in the process is measuring progress through the identification of predictive, real-time indicators of improved quality.
By implementing this data-driven approach, Coverys helps healthcare organizations:
In the end, this process can help improve patient safety and patient satisfaction, and potentially improve reimbursements.
Insurance Products issued by Medical Professional Mutual Insurance Company (MA, NAIC 10206) and its subsidiaries: Preferred Professional Insurance Company® (NE, NAIC 36234) and ProSelect® Insurance Company (NE, NAIC 10638) and Healthcare Underwriters Group (OH, NAIC 12233). Insurance Products issued in New York by Coverys RRG, Inc.® (DC, NAIC 14160).
Insurance Products issued in California by Preferred Professional Insurance Company® and Coverys Insurance Company (CA Cert. 6122-6).