Stanford Hospital Reduces Liability Premiums by $3.2M With New Disclosure Program

Stanford (Calif.) Hospital and Clinics has saved $3.2 million annually in liability premiums since implementing a new disclosure program revolving around adverse events, according to an American Medical News report.

Advertisement

The disclosure program, which was implemented at Stanford in 2007, allows the insurer Stanford University Medical Indemnity & Trust Insurance Co. to investigate adverse events within 90 days, as long as the patient does not take legal action. With the help of internal physicians, the Stanford insurer determines whether the event could have been prevented, in which case the university extends an apology and offers compensation.

 

Sign up for our FREE E-Weekly for more coverage like this sent to your inbox!

According to the report, Stanford’s claim frequency has declined 36 percent, compared to the two years before the disclosure program was implemented. The details of Stanford’s disclosure program were discussed in the Institute for Healthcare Improvement’s latest whitepaper, which focused on respectful management of adverse events.

Related Articles on Adverse Events:

OIG Review of Medicare Finds Shortcomings in its Response to Alleged Serious Adverse Events
Frequency of False Alarms is Top Concern About Clinical Alarm Systems
Baltimore Obstetrician Under Fire for Removing Wrong Ovary During Surgery

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

Advertisement

Next Up in Uncategorized

Advertisement

Comments are closed.