Medical Professional Insurance Done Right
We provide medical professional and general liability insurance coverage and risk management services to our academic medical center (AMC) subscribers and their various affiliated entities, employees, and healthcare providers. What makes MCIC unique is our close partnership with our subscribers that allows us to realize our main objectives of insurance and risk management, risk reduction and patient safety, and cost stability and control. Everything we do harkens back to these three goals. Our programs are designed around them, our service is focused on them, and our employees are devoted to them. By focusing on these objectives, we can support our subscribers’ education, research, and clinical care missions.
Our comprehensive insurance and risk management programs cover delivery system risks, mitigating and reducing risk in major claim loss areas. By measuring and understanding our AMC risks, we are able to tailor our insurance policies to fit our AMC system coverage needs and create programs that are targeted to reduce risk and increase patient safety in high-risk areas.
We foster a close partnership with our subscribers and insureds that enables us to tailor policy coverage that is personalized to our AMC system coverage needs and safety concerns. This unique relationship allows us to sponsor and facilitate project initiatives designed to reduce risk, decrease malpractice claims, and increase patient safety. Over 800 individuals are involved in MCIC’s patient safety and board committees to ensure our goals and objectives remain aligned with our subscribers. We continuously seek honest feedback and open conversation with our subscribers to ensure our programs are as personalized and effective as possible and are targeted to our subscribers’ specific risks.
MCIC has provided stable premium costs for the last decade, and we are dedicated to carrying that stability into the future. We ensure that our subscribers receive their insurance needs with reduced and stable costs.
We partner with our subscribers to provide valuable, innovative, and personalized service that ensures mutual success.
How We Do It
In order to support insurance and risk management, risk reduction and patient safety, and cost stability and control, we have created a wide range of programs. These programs are highly personalized with the help of our AMCs, and we continually assess them in order to keep them current and to create new initiatives to respond to our subscribers’ changing and growing needs. Our programs below highlight only some of our many initiatives.
Customer Service Program
We’re satisfied when our customers are satisfied. Our customer service surveys provide us with continual feedback on our services and their impact on our subscribers. Our latest survey revealed that our customers are extremely satisfied in the vast majority of our service areas. Even with these excellent results, we continue to seek improvement to our services and measure customer satisfaction.
Risk Intelligence and Analytics
Our analytics program is unique in the industry. We utilize data from MCIC, as well as industry benchmarks and additional information from our subscribers, to develop best-in-class analytics. Our unique approach to information strategies, performance metrics, and action plans enables us to monitor leading and lagging metrics that continually evaluate the impact of our initiatives. In addition, our information management provides critical information to us and our subscribers for effective business operations and performance measurement. Through our analyses, we can augment enhanced understanding of risk trends, drivers, and opportunities for improvements and strategic investments.
Network/Affiliate Hospital Program
We support AMC risk management and risk reduction by analyzing and monitoring the performance of affiliated network hospitals at a detailed level. The AMCs are able to determine if the network affiliates represent a disproportionate amount of risk to the AMC. When this risk is identified, we develop targeted risk mitigation programs tailored to the network affiliates’ unique risks.
Shared Learning Program
Our Shared Learning Program brings together outside experts and experts within our subscriber base for focused discussions in order to share expertise and thought leadership. These programs cover a variety of clinical and claims management topics. Through shared learning, the AMCs benefit from additional perspectives on clinical best practices, claims management best practices, litigation approaches, and risk reduction strategies that enhance patient safety. By supporting enhanced sharing of AMC and national operational strategies and best practices, we ensure that our AMCs are supported and continually learn and grow with the help of their peers.
Patient Safety and Loss Prevention
We work with our AMCs to identify, define, and implement clinical risk reduction initiatives. Patient Safety and Loss Prevention (PSLP) is designed to eliminate preventable patient harm, decrease malpractice claims, and increase patient safety through the identification, shared learning, and adoption of best practices in partnership with our subscribers.
Physician Risk Program
Our Physician Risk Program supports AMCs in better managing and mitigating physicians with high claims activity. This program begins by gaining alignment with senior AMC leadership on the departments and physicians to be addressed. A risk mitigation plan to support physician and department performance is then designed and implemented in coordination with AMC clinical leadership. Physician and department compliance, performance, and outcomes are tracked and measured to enable performance improvements.