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In health care, risk is everywhere. Providers face an ever-evolving array of issues that threaten sustainable funding, the ability to provide quality patient care, and challenge their professional reputation. Cost containment, recruiting pressures, regulatory mandates, and litigation keep health care organizations exploring for ways to provide safe patient care while reducing cost and driving efficiencies.
Staying competitive in this dynamic world of health care requires risk management with a sophisticated understanding of this sector.
Dedicated Health Care Industry Advisors
With continual changes taking place in the industry, every day there are new risks that need to be identified, quantified, managed, and either retained or transferred. Because Marsh Canada’s Health Care practice is staffed by trusted advisors with in-depth understanding of the complex issues facing your industry, we see the world from your perspective. Our focused experience allows us to help you move beyond simply managing risk and begin using the same risks to create strategic advantages.
Unique Solutions for Health Care Clients
Insurance Broking and Placement
In cooperation with AVIVA Canada Inc., we offer clients combined strength as recognized industry leaders. AVIVA has been insuring health care providers in Canada for more than 50 years, providing policies with broad coverage and competitive pricing over a period of
time when the health care liability market has experienced tremendous volatility. Premium financing also available.
Health Care Risk Management
Risk today is more than just the traditional property and casualty exposures; it encompasses issues that extend throughout every aspect of the business. Our clinical risk consultants meet this challenge by employing systematic hazard reduction methods to help you meet patient safety goals and lower the cost of risk. Services include Enterprise Risk Management (ERM), risk advisory services, risk management and program strategy development (including business continuity, security and fraud, integrated disability management, supply chain risk assessments, and critical risk analysis).
More Than 30 Health Care Professionals From our 13 Offices Across Canada
Risk Diagnostic Technology
The Health Care RiskGap is a web-based diagnostic tool which can help clients to prioritize and strategize their risk management approach to mitigate risk. The tool assesses risk levels in 21 different areas, and our consultants, using the results of the risk diagnostic, then works with clients to implement the performance improvements necessary to achieve organizational goals.
Managed Technical Equipment Coverage
Designed specifically for Canadian health authorities, this unique program provides health care facilities with a proven process to effectively manage, reduce, and control maintenance costs. By providing hard and soft dollar savings on maintenance and repair of a wide range of equipment, the program results in operational efficiencies, stronger information systems, and surplus dollars to direct to critical business operations.
Marsh employs an in-house group of technical consultants with legal backgrounds who have experience in health care related claims, including professional liability, and can supplement the coverage recommendations with valuable proactive and reactive claims advice. Combined with the extensive claims resources provided by AVIVA Canada Inc., our clients can rest assured that their claims will be processed and settled quickly and efficiently.
Marsh can tailor the appropriate risk management measures and clinical trials liability insurance for all parties involved in conducting clinical trials. Our experts around the world can provide a quote within 24 hours, place locally admitted policies, and inform you of changes in
local legislation affecting clinical trial insurance requirements.
Cyber Risk Solutions
Hospitals are subject to ever increasing reliance on the storage and transfer of electronic data as well as responsibility brought on by new legislation such as PHIPA to protect that information. The rapid evolution of Privacy and Cyber Security exposures has left many of the traditional forms of insurance unable to respond to these modern day risks. Marsh provides a modular and customized cyber policy for our health care clients that includes Network Security and Privacy Liability, Notification Expense, Crisis Management and Identity Theft Response Fund, Cyber Extortion, and Network Business Interruption.
In addition to the extensive expertise offered by Marsh, clients also have access to the resources of our sister operating companies — Guy Carpenter, Mercer, and Oliver Wyman — all of whom can provide a wide range of services in security, employee and resident background screening, human resources, employee benefits, actuarial analysis, reinsurance, and financial risk management.
Diverse Client Base
With more than 30 health care professionals located in 13 offices across Canada, our health care practice provides advisory and transactional services to:
- Acute care facilities.
- Senior care facilities.
- General health care organizations.
- Health care professionals.
- Health care clinics.
Marsh has the resources to deliver state-of-the-art risk financing and risk management tools and solutions to health care organizations from coast to coast. We can help your organization successfully face risk and achieve your goals while reducing the total cost of risk.