Healthcare Risk Advisors
Healthcare Risk Advisors is a medium-sized insurance company founded in 1977, headquartered in New York, New York. The company specializes in professional liability coverage for healthcare professionals and hospitals, offering comprehensive risk management services and data-driven solutions to minimize liability exposure.
Company Overview
Healthcare Risk Advisors is a medium-sized business founded in 1977, headquartered in New York, New York. The company operates within the insurance industry, focusing on professional liability coverage for physicians and allied healthcare professionals. It aims to advance, protect, and reward the practice of good medicine. With a team size of 169, the company has established itself as a key player in the healthcare insurance sector.
Insurance Services
Healthcare Risk Advisors provides a range of insurance services, including professional and general liability coverage for hospitals and their employed healthcare professionals. The company also offers flexible coverage options tailored for New York physicians and affiliated healthcare providers. Additionally, it provides self-insurance programs, including design, setup, and administration services, and various discounts for physicians based on risk management education and claims history.
Consulting and Risk Management
The company offers consulting services focused on self-insurance, risk transfer methods, and liability reduction. It utilizes an integrated approach to claims handling, risk management, and data analytics to support clients. Healthcare Risk Advisors has decades of experience in handling hospital claims and employs a team of actuaries and healthcare analytics experts to assist clients in making data-driven decisions aimed at minimizing risk and preventing claims.
Data Analytics and Education
Healthcare Risk Advisors features a Data Analytics Center of Excellence that aids clients in making informed decisions to reduce medical malpractice exposures. The company conducts office assessments and provides ongoing education for insured physicians through online courses and webinars. Topics include physician risk management and fetal heart monitoring, ensuring healthcare professionals are equipped with the necessary knowledge to mitigate risks.
Industry Partnerships and Affiliations
The company is a member of the TDC Group, a $6 billion entity that serves over 100,000 healthcare providers and organizations. Healthcare Risk Advisors is expanding its partnerships beyond larger hospital systems to include community hospitals and various healthcare groups. It operates Hospitals Insurance Company, an admitted carrier in New York, and has maintained an AM Best Financial Strength Rating of A- (Excellent), reflecting its stability and reliability in the insurance market.