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Taking a Bite Out of the Total Cost of Risk
Program Code:
FR-07
Date:
Friday, October 15, 2010
Time:
10:30 AM to 11:30 AM
EST
CO-PRESENTER
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Cindy Lusignan has spent her entire carrer in health care working in provider settings, insurance carriers, and now working as a broker. She has been a client executive with Marsh for eight years. During this time she has executed many an impressive deal for her growing health care clientele. She's earned a reputation among professional-liability circles for her work in the trenches. Cindy's efforts have produced significant financial savings and created operational efficiencies for her acute care, senior care and academic medical center clients. She has been recognized three times as a Risk and Insurance Power Broker of the Year.
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PRESENTER
:
James Roberts is the General Counsel for Shands HealthCare in Gainesville, Florida. In addition to the the daily activities of the GC's office, James has overall responsibility for Shand's risk management and financing programs for the 2 academic medical centers and 6 acute care community hospitals which are affilitate with the University of Florida. Prior to serving at Shands, James was the GC at University of Wisconsin, held leadership positions at U of Pittsburgh, and Hopkins. He even spent time as inside counsel for a large brokerage firm. This experience makes him uniquely qualified to lead today's cost reduction session.
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Description
Shands HealthCare reduced its total cost of risk (TCOR) for GL, WC, Property and other non-professional liability lines by over 6% within a 3-month period. James Roberts, Shands' General Counsel, will present a case study describing how Shands achieved this significant savings. This case study will discuss the major program components that were evaluated and the changes that were made to realize cost savings: the insurance and risk transfer program, claim costs, loss control, TPA expenses, and broker expenses.
Shands is a multi-hospital system including 2 academic medical centers and 6 acute care community hospitals affiliated with University of Florida.
LEARNER OUTCOMES:
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Construct an evaluation tool(s) for risk transfer v retention, retention levels, and coverage gaps.
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Construct purposeful questions to quantify broker services, cost, fees, and expertise.
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outline the critical steps to analyzing and reducing total cost of risk in an acute care setting.