Adaptrack formalizes relationship with leading insurer to deliver enhanced risk management solutions to the medical liability industry
AI-powered platform capabilities provide time back to busy clinicians while enabling premium discount savings
CHICAGO, July 12, 2021 /PRNewswire-PRWeb/ -- Adaptrack (adaptrack.com) announced today an enhanced commercial agreement with AMS Management Group (amsmanagementgroup.com) and its insurance offerings through AMS RRG (http://www.amsrrg.com). Powered by Adaptrack's plug-n-play innovative Insurtech capabilities, the agreement enables customized, pro-clinician risk management solutions, which will be immediately available to over 3,000 AMS RRG members. The members will receive Adaptrack's differentiated risk management solutions while attaining a premium discount off of their medical liability coverage. Adaptrack helps clinicians avoid costly risks through AI-powered personalized nudges.
"Adaptrack has been designed to integrate with innovative medical liability insurance providers, like AMS, and bring the power of our AI-powered nudges to their underwriting expertise for today's fast evolving practice risks. I'm excited to build on and nurture this relationship with AMS," says Niraj Swami, CEO of Adaptrack.
Richard Welch, CEO at AMS Management Group, added, "Proactive risk management is at the core of our strategy and value-added proposition to members, and Adaptrack's enhanced risk management solutions will help our clients with evolving practice risks, such as increasing telehealth consultations, new pandemic-related protocols, and the rising costs of digital overhead."
The benefits of the agreement include:
- Turnkey nudges that mitigate the ever-evolving challenges faced by frontline clinicians, including digital fatigue due to telehealth and the ongoing challenges of burnout.
- Opportunities to obtain CME (AMA PRA Category 1 CreditsTM) through 30-second reflective nudges addressing clinical, administrative, and personal risks.
- Access to risk intelligence services that unlock professional liability insurance discounts and lower continuing medical education cost.
- Freedom to determine how and when risk management and incentive nudges are delivered (including hands-free and 3rd party API integrations).
Mr. Welch added, "There is tremendous opportunity for disciplined growth backed by AMS Management Group's established underwriting track record and Adaptrack's innovative technology platform. I am extremely excited to build on the positive momentum this relationship brings to our market offering and which will be distributed across our national broker network."
BMS Capital Advisory advised AMS Management Group on its commercial agreement with Adaptrack, and is assisting its Management Team with securing growth capital and partnerships going forward.
About Adaptrack:
Adaptrack is a ridiculously simple platform for today's healthcare workforce to avoid costly risks, while earning liability premium discounts and Continuing Medical Education credits. Enabled by Adaptrack's proprietary AI-powered personalized nudges, healthcare providers and practice teams can track, learn from and adapt to evolving risks to reputation, performance, clinical practice and personal wellbeing from any device and hands-free (100% voice). Adaptrack, a Delaware Public Benefit Corporation, is dedicated to helping providers and their teams work and live better. For more information, visit adaptrack.com. Follow @adaptrack on Twitter, Facebook & LinkedIn.
About AMS Management Group:
Best Practices Insurance Services, LLC dba AMS Management Group, provides a full spectrum of program administration, from distribution and underwriting to risk and claims management services for medical professional liability insurers. AMS Management Group manages over $70 million in annual Gross Written Premiums. Since its inception, AMS Management Group has been the exclusive program administrator for AMS RRG. Since 2003, AMS RRG has been providing medical liability insurance to a number of physicians and physician groups across a broad range of specialties, and today is one of the nation's premier physician risk retention groups. AMS RRG's stable, flexible, cost-effective medical liability insurance options now protect over 3,000 members.
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SOURCE Adaptrack
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