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04/27/2017

Health Care Industry Expertise Yields $181,000 Premium Savings Plus Coverage Enhancements


Client Profile

Industry: Health Care
Entity Type: Corporation
Geographic Footprint: Regional
Annual Revenue: $50,000,000
Number of Employees: 300

CBIZ assists with information technology audit outsourcing.Problem

The client, a large physicians’ practice, had experienced significant growth through acquisitions the past five years, including expansion into additional states. They outgrew the level of service and geographic territory their current malpractice insurance provider could properly cover. The client needed a sophisticated insurance program with higher limits, more flexible coverage structures, and portability of coverage into contiguous states. Additionally, they required an insurance carrier with expertise of the legal climate in the states in which they practiced.

Solution

After a series of meetings with the physicians’ board, we demonstrated our health care expertise, by providing them with a comprehensive coverage audit. The review outlined recommended coverage improvements and various carrier alternatives in the market. We also obtained carrier approval of their medical malpractice attorney, allowing them to retain their preferred defense counsel. 

Outcome

The client immediately realized $181,000 in premium savings, 31 percent of the organizations previous cost. They improved coverage and partnered with an insurance carrier with legal expertise in every state in which the physician group practices.

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Copyright © 2017, CBIZ, Inc. All rights reserved. 


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