PRI of New York Partners with CRICO Strategies to Become Newest Member of its National Comparative Benchmarking System
April 2, 2019by
CRICO Strategies recently announced a newly-signed agreement with Physicians’ Reciprocal Insurers (PRI) of New York to become the newest member of its national Comparative Benchmarking System.
With more than 35 years as an admitted insurer, PRI currently insures more than 8,000 healthcare providers and facilities.
PRI’s partnership with CRICO Strategies is meant to strengthen its risk management programs and its ability to learn from medical malpractice data. PRI’s insureds will benefit from enhanced, data-informed risk management and patient safety tools, educational materials, technical case studies and benchmarking data. Of this new relationship, Christine Quinn, RN, BSN, vice president of risk management services at PRI says, “We are excited to be working with CRICO Strategies and joining the national CBS Community. This data-driven approach to risk management, combined with the shared learning afforded through the CBS Community, will help us better understand the drivers of our claims and will inform our business decisions. This knowledge will help us target risk management and patient safety efforts for our insureds and their patients.”
CRICO Strategies clients contribute their malpractice claims data to its national Comparative Benchmarking System (CBS), which currently holds more than 400,000 medical malpractice cases from more than 20 captive and commercial medical malpractice insurers representing more than 550 healthcare entities nationwide. CBS provides a unique insight into what goes wrong and why, offering intelligence to specific risk vulnerabilities. Armed with this data, healthcare providers and leaders have a clear line of sight on how to change specific clinical systems or clinician behaviors and mitigate those dominant risks and reduce their malpractice exposure.
“We are thrilled to welcome PRI to our CBS community and look forward to this new partnership," said Michael Paskavitz, assistant vice president of CRICO Strategies. "It is our hope that, together, we will share best practices and learn from each other to help build a stronger business that continues to support providers as they deliver safe care.”