Understanding the rising cost of medical malpractice claims is crucial for healthcare risk managers. Our recent study revealed that social inflation—where claim costs outpace general inflation—has added an estimated $2.4 to $3.5 billion to losses over the past decade. How does this trend affect risk management strategies and what steps can healthcare risk managers take to mitigate its impact? James P. Lynch, FCAS MAAA, David Moore, and Susan Boisvert explore these important questions in this recently published article in the Journal of American Healthcare Risk Management, where we've sponsored open access rights. To download the article, visit: https://lnkd.in/gzxG_RGe #HealthcareRiskManagement #SocialInflation #InsranceTrends American Society for Health Care Risk Management (ASHRM)
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Understanding the rising cost of medical malpractice claims is crucial for healthcare risk managers. Our recent study revealed that social inflation—where claim costs outpace general inflation—has added an estimated $2.4 to $3.5 billion to losses over the past decade. How does this trend affect risk management strategies and what steps can healthcare risk managers take to mitigate its impact? James P. Lynch, FCAS MAAA, David Moore, and Susan Boisvert explore these important questions in this recently published article in the Journal of American Healthcare Risk Management, where we've sponsored open access rights. To download the article, visit: https://lnkd.in/gzxG_RGe #HealthcareRiskManagement #SocialInflation #InsranceTrends American Society for Health Care Risk Management (ASHRM)
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Healthcare Quality / Pharmacist / AUC-HCQE Diploma holder/ Healthcare Risk Management / HC Quality Management / Crisis Management
The 2nd. domain of Healthcare risk management is " The Clinical/ Patient Safety Risks" Those are the risks associated with the delivery of care to patients, residents, and other healthcare customers. Clinical risks include: 1. failure to follow evidence-based practice. 2. medication error. 3. hospital-acquired conditions (HAC). 4. serious safety events (SSE). 5. health care equity. As well as, opportunities to improve safety within the care environments, and others. American Society for Health Care Risk Management (ASHRM).
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Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/9HYp30sGYuA #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/1FnQ30sGVQA #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/wba230sGXbf #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/2foG30sGUZv #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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Sales Executive: HUB International Great Plains Region - Commercial Insurance & Employee Benefits
Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/YQTE30sGVlI #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/V9pO30sGVkn #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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Senior Vice President, Account Executive | Damage Insurance Broker at HUB International
Despite historically high wages, flexible schedules and advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Despite historically high wages, flexible schedules & advancement opportunities, the healthcare industry continues to struggle to remain fully staffed. Chrystina Howard, Enterprise Risk Management leader for HUB’s Complex Risk practice & Dr. Harris Pastides, president emeritus of the University of South Carolina and epidemiologist, share insights regarding the ongoing challenges & potential solutions: https://ow.ly/qvA730sGUE2 #Healthcare #ERM #ComplexRisk #HealthcareLaborShortages
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President Edge Professional Liability Services
2moYou need to employ multiple strategies. Put the claim on a path, settle or defend. And if defend another path for trial because not all defensible claims go to trial. Sounds simple, it's the details in between the beginning of the path and the end of the road.