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Article: Health care heads to 'total risk management.' (Healthcare Risk Management Review)
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- November 9, 1992
- Author:
CopyrightCOPYRIGHT 1992 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Health care risk management is a young discipline in an increasingly complex industry.
At the time of its genesis in the malpractice crises of the 1970s, hospitals and physicians across the country were experiencing a dramatic increase in professional liability insurance costs. In many areas of the country, insurance coverage was just not available.
In response to the crises, health care providers established offshore captives and physician-owned mutual insurance companies and implemented a variety of other risk financing alternatives.
At the same time, health care providers, employing the risk management decision-making process, began ...