Healthcare liability captives, according to Michael Maglaras, principal at Michael Maglaras & Company, contain millions of dollars of paid claims data that will translate into improved margins and quality improvements directly related to the mistakes of the past.
Healthcare liability captives will be on the forefront of improving quality and outcomes under accountable care, requiring expanded budgets that integrate more service providers, consulting assistance, and software.
Michael Maglaras, principal at Michael Maglaras & Company, discusses how accountable care is resulting in the marriage between claims activity and quality. Healthcare captives mine their claims data to instruct quality improvement and, most significantly, how this is key to managing reputational risk.
Employee turnover is costly. In terms of annual salary, cost estimates for losing a position to turnover range from 30-150 percent (hourly employees) up to 250 percent (sales/senior leadership). Developing a strategy that follows seven key steps is critical to the long-term success of an overall employee retention plan.
An operating company may achieve immediate financial benefits by using a captive insurer to issue a deductible reimbursement policy for its high deductible retentions. The tax implications for reimbursement policies for high deductibles are explained in this video by Martin Eveleigh from Risk Management Advisors.