Each year ASHRM and Aon partner to deliver a benchmarking analysis of medical professional liability costs. This year’s study marks the 15th annual report and incorporates data from over 100 participating health care systems.
The goal of our annual study is to provide health care systems with a business intelligence tool for better estimating and understanding self-insured medical malpractice costs. Our analysis examines trends in two dimensions - the number of claims (frequency) and the average value of claims (severity). We show historical claim trends and forecast cost levels for the upcoming year.
In 2014 our report delivers business intelligence specific to:
The link between quality of care and medical malpractice claim frequency: Results indicate that risk managers can use patient satisfaction survey scores as a “marker” for detecting and remediating areas in need of improvement.
A survey of claim frequency and severity by cause of loss:
Text mining techniques were used to measure the relative frequency and severity, or average cost, of claims by the cause of loss, which brings a new level of specificity to risk managers’ ability to identify potentially costly risks.
Claim frequency and severity benchmarks by state:
The 2014 report provides statistical information specific to 27 states and the District of Columbia.
The information has been developed to help healthcare professionals better understand and estimate the costs – future and past – of medical malpractice.
Click Here to purchase your copy of the 2014 ASHRM/Aon Hospital and Physician Professional Liability Benchmark Study today.
This Enterprise Risk Management ASHRM Pearls publication goes beyond the foundations of gaining management support for an ERM program, identifying specific risk domains and conducting an initial risk assessment.
ASHRM's new Enterprise Risk Management Pearls for Integrating ERM into the Healthcare Culture edition summarizes how to incorporate ERM concepts and principles in decision-making processes at all levels so that ERM becomes an integral part of the organizational operating culture.
Creating such a culture can be challenging, especially in healthcare organizations where the Return On Investment (ROI) has often been the sole measure for decision making and capital budgeting. ERM calls for an organization to look beyond just the potential financial benefits of alternative strategies and projects.
Click here to learn more and to purchase ASHRM’s NEW Enterprise Risk Management Pearls for Integrating ERM into the Healthcare Culture today!