Coordinate defense and other key program benefits
Under BerkleyMed’s physician integration solutions, the healthcare system has the potential to continue to insure employed physicians via current agreements. For all other physicians, BerkleyMed would work with the hospital system and their broker to customize a risk financing program.
Other key program benefits:
The key to operational success for BerkleyMed’s physician integration product is the
development of a joint defense agreement. This agreement is drafted in a coordinated effort between the client and BerkleyMed to address the selection of defense counsel for the hospital and physician cases, allocation of defense costs, and governance of the settlement process and trial strategy. This coordinated defense strategy places the physician and the hospital in a stronger overall position by jointly defending against a common threat to both parties.
Prices are competitive within the marketplace and the policy form can match terms and conditions currently seen in the market.
A coordinated adjudication strategy creates the potential for reduced overall (hospital and physician combined) indemnity and defense costs.
Reconciliations for the program’s premium and other adjustments will be accomplished quarterly as physicians are added, reducing administrative time and expenses.
Some program structures may allow the healthcare system to financially benefit when program results are better than expected.
Tail policies may be added to the program at the healthcare system’s discretion and will use the same terms as established for prospective policies.