Healthcare professionals and institutions, in both public and private sectors, are faced with a unique array of exposures to risk that are inherent to the everyday activities of their respective practices. Risk exposures must be identified, evaluated and managed within closely monitored and increasingly stringent financial constraints. New technologies and medical advances are bringing constant changes to these exposures. In no other sector is risk management so decidedly at the heart of business operations as healthcare.
In addition, no other sector faces the same ongoing pressures – from both internal and external sources – to achieve demonstrable improvements in quality and the delivery of service to a wide array of consumers. So distinctive are these characteristics that they demand innovative services specifically tailored to meet the needs and demands of our clients.
WGA is one of the leading insurance brokerage and risk management consulting firms serving the healthcare industry. WGA has worked closely with the industry and has developed a reputation for dynamic and effective risk management solutions that address both operational and financial risks. WGA has the ability to identify risk exposure and, working closely with its clients, develop cost-effective mechanisms that will stand-up to the ever-changing industry environment.
WGA provides comprehensive risk management and benefits services for every type of business affiliated with the healthcare industry, which includes hospitals, long-term care facilities, physician groups, clinics, and many other ancillary healthcare organizations.
WGA’s Healthcare Practice offers the following products and services:
- Professional liability / Medical Malpractice
- Traditional property & casualty programs, including professional and general liability, property, workers compensation, employers’ liability, automobile, crime and other coverages
- Directors’ and Officers’ Liability / Errors and Omissions protection
- Medical waste / Environmental Liability
- Provider administrative defense coverage with Employment Practices Liability covering dispute resolutions
- Clinical risk management on site reviews
- Employee Benefits Programs – Life / Accidental Death & Dismemberment, Long Term Disability & Short Term Disability
- Medical & Dental Self-Insured Administration
- Medical Stop Loss
As in the delivery of medical care, future solutions emerge from past experience. WGA tailors specific programs for our clients that are built on a close analysis of exposures, organizational management and loss history. In addition to its industry expertise, WGA’s Healthcare Practice can draw upon the following services for its clients’ benefit:
- Access to expert WGA claims and loss control personnel
- Captive management service
- HIPAA and regulatory compliance assistance
- Claims management and alternative dispute resolution (ADR)
- Actuarial consulting
- Risk management program development and implementation
WGA’s Healthcare team offers the creativity and attention of a specialized practice group, combined with the resources of a large international organization. WGA’s professionals hold unmatched experience in all facets of medical professional liability insurance and are attuned to changing liability issues pertinent to the healthcare industry and works closely with the marketplace to develop the most appropriate insurance and services.
And for more information, see WGA’s Healthcare related White Papers on addressing identity theft risks in healthcare or on changes in the Medical Professional Liability marketplace. Or click here for Healthcare Practice Leader Peter Reilly’s article in the Journal of Healthcare Risk Management on the considerations and potential benefits of an alternative captive program for a healthcare organization.
Follow Pete Reilly on Twitter @MedMalInsGuy
For additional information about our Healthcare Practice, please contact Peter H. Reilly at our New Jersey Office at (609) 228-1600 or via email at preilly@WGAins.com.