that can provide the knowledge and expertise it needs to evaluate the market member of a collaboration of rural facilities in Wisconsin that is currently investigating the creation of a captive insurance plan.
“I believe that organizations should comparison-shop every two to three
cost by having a deeper knowledge of the market. They will also give you advice on coverage limits based on what they are seeing in the market.
“The last time we reviewed our policies we realized that we had coverage on our accounts receivable that was about 400 percent above the industry average.”
When it comes to making decisions about what coverage is required, good channels of communication with the center’s risk manager are also important.
“The risk manager should provide routine summaries of outstanding issues and potential for loss. The key to a good relationship between a CFO and the risk manager is understanding what coverage you have and knowing the people to contact when questions come up,” Lovdahl says.
“As we are looked at less and less for routine services we need to offer services that have a real return on investment for the consumer.”
but also the emergence of new ways to make and save money. If payment structures improve, centers like Baldwin will have a better chance to thrive; and people living in the communities they serve will gain a greater chance of maintaining long-term health.
We navigate the complex waters of Resolution and Compliance so you can focus on what you do best.
Settlement obligations produce an overwhelming sea of paperwork as you chart your way to closure. Employing GRG’s firm-wide Resolution & Compliance Program allows you to expedite the process and achieve more favorable results. Moreover, our systems and specialists significantly lower your internal costs while eliminating post-settlement liability by ensuring compliance.
To learn more about GRG’s Resolution & Compliance Program visit
garretsongroup.com or call toll-free at 888-556-7526.
Annual 2014 | HEALTHCARE RISK MANAGEMENT REVIEW | 13
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