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AmHS forms largest multihospital system liability insurance company.

J Greene

    Modern Healthcare
    |June 4, 1990
    PubMed
    Summary

    American Healthcare Systems created an excess liability insurance company for its hospitals and nursing homes. This initiative aims to stabilize insurance premiums and reduce costs by eliminating intermediaries.

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    Area of Science:

    • Healthcare Management
    • Risk Management
    • Insurance Law

    Background:

    • Healthcare organizations face volatile insurance premium costs.
    • Traditional insurance models involve intermediaries, increasing expenses.
    • Affiliated healthcare facilities require stable liability coverage.

    Purpose of the Study:

    • To establish a captive insurance company for healthcare providers.
    • To mitigate financial risks associated with fluctuating insurance premiums.
    • To achieve cost savings by internalizing insurance functions.

    Main Methods:

    • Formation of an excess liability insurance company by American Healthcare Systems.
    • Inclusion of approximately 225 affiliated hospitals and over 100 nursing homes.
    • Strategic decision to bypass traditional insurance market.

    Main Results:

    • Creation of a dedicated insurance entity for member facilities.
    • Anticipated protection against significant premium increases.
    • Projected cost reductions through direct management of insurance.

    Conclusions:

    • Healthcare alliances can create self-insurance mechanisms.
    • Captive insurance can enhance financial stability for healthcare systems.
    • Direct control over insurance can lead to operational efficiencies and savings.

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