Stanford (Calif.) Hospital and Clinics has saved $3.2 million annually in liability premiums since implementing a new disclosure program revolving around adverse events, according to an American Medical News report.
The disclosure program, which was implemented at Stanford in 2007, allows the insurer Stanford University Medical Indemnity & Trust Insurance Co. to investigate adverse events within 90 days, as long as the patient does not take legal action. With the help of internal physicians, the Stanford insurer determines whether the event could have been prevented, in which case the university extends an apology and offers compensation.
According to the report, Stanford's claim frequency has declined 36 percent, compared to the two years before the disclosure program was implemented. The details of Stanford's disclosure program were discussed in the Institute for Healthcare Improvement's latest whitepaper, which focused on respectful management of adverse events.
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The disclosure program, which was implemented at Stanford in 2007, allows the insurer Stanford University Medical Indemnity & Trust Insurance Co. to investigate adverse events within 90 days, as long as the patient does not take legal action. With the help of internal physicians, the Stanford insurer determines whether the event could have been prevented, in which case the university extends an apology and offers compensation.
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According to the report, Stanford's claim frequency has declined 36 percent, compared to the two years before the disclosure program was implemented. The details of Stanford's disclosure program were discussed in the Institute for Healthcare Improvement's latest whitepaper, which focused on respectful management of adverse events.
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