Analysis included data from more than 35,000 providers in all specialties
ATLANTA, Dec. 7, 2023 /PRNewswire-PRWeb/ -- Physicians who take advantage of MagMutual's risk mitigation content and tools see a 10% reduction in medical malpractice losses, a recent investigation by the insurer's actuarial department shows.
Overall, the study demonstrated a strong correlation between the number of advice resources physicians utilized and medical malpractice losses. It showed that for every course taken the reported loss costs decreased by 3.2%, on average.
The analysis included data from 35,796 unique providers with Physician and Surgeon Liability policies effective from 1998-2022 and covered all specialties. The segments included two groups: providers who have taken courses focused on risk mitigation or used one of MagMutual's risk mitigation tools and providers who have done neither.
"In always putting our policyholders first, it's important that we help them understand and mitigate their risk better than any other insurer could. The results show that our policyholders are applying the evidence-based strategies developed by our medical faculty, experiencing even better patient outcomes and seeing a tangible reduction in claims," said Mark Poling, chief customer officer, MagMutual.
MagMutual's Learning Center includes more than 300 different resources focused on various subject matters, specialties and products. MagMutual continues creating evidence-based content for policyholders to reduce risk even further.
About MagMutual
For more than four decades, MagMutual has been a leading provider of medical professional liability insurance. Today, we're the largest mutual insurer of physicians and the second largest mutual medical professional liability carrier in the U.S.*, delivering comprehensive coverage to more than 40,000 healthcare providers and organizations nationwide. Our focus on innovation allows us to offer customized advice, exceptional claims support and consistent financial benefits that result in improved outcomes and stronger PolicyOwners.
*Market position based on S&P Global Market Intelligence 2022 year-end financial filings. Dividends and other policyholder benefits are declared at the discretion of the MagMutual Board of Directors and are subject to eligibility requirements.
Media Contact
Kristen Guilfoil, MagMutual, 404-842-3460, [email protected], www.magmutual.com
SOURCE MagMutual
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