As healthcare continues to move to a value-based system, risk management becomes more critical.  Risk management processes must continue to evolve from the essential elements of clinical care to the broader spectrum of risk financing, regulatory and general business outlook to facilitate patient safety.  Building a culture centered around patient safety incorporates all of these and is a strong factor in long-term organizational success.

Risk management strategies, tools, and resources utilize data analytics to promote patient safety.  Mounting evidence from studies recently published in the Journal of Patient Safety strongly support improving patient safety as the most cost effective means to achieve positive financial impact and value—in addition to improving the overall patient experience.

To improve patient safety, healthcare organizations need to consult and employ those with some of the most successful patient safety initiatives—professional liability insurance companies. In his article, “Risk Management and Patient Safety,” Dr. Barry M. Manuel of the Boston University School of Medicine, credits the risk management activities of professional liability insurers for reducing medical errors, improving patient safety and limiting malpractice exposure.

Analyzing claims gives liability insurance companies insight into patient safety by recognizing patterns that identify improvement opportunities.  Our Inspirien Risk Management team is ready to partner with you to discern those opportunities specific to your organization. We can then create a customized plan to help you achieve your goals, lowering your exposure for risk, improving your revenue opportunities and most importantly making healthcare safer for patients.