Risk Management Services

Unarguably, the medical industry faces a number of risks in today’s environment. These risks seem to come from a variety of different angles and exposures – healthcare reforms, industry consolidation, outcome based compensation, provider relationships, electronic medical records and the list goes on.

On the other hand, the industry also has to manage traditional risks such as workers compensation (including needle stick injury, transmittal of blood borne viruses and pathogens, slip and falls, etc), malpractice claims arising from actual/alleged negligence, property exposures such as fire, flood and storm and also machinery/electronic breakdown, and a range of other exposures.

This demands that medical practices and organisations must use new ways to efficiently manage and control their risk exposures. This is where risk management comes in and protects your organisation from many of the risks that may come your way. Not only does proper risk management equip you with tools to rank your risk exposure based on the perceived severity and probability of each. It also provides effective strategies and methods to thoroughly assess the risks involved in exploring new opportunities, which goes a long way towards helping your organisation improve its bottom-line.

Risk Management – Managing Risks the Right Way

If you need risk management assistance, look no further than Medico Insurance Services! We offer quality risk management services that are used and recommended by us and our recommended suppliers to shield your organisation from any risks that may confront you – before you are confronted by them. We do this by first assessing and then grading you perceived exposure to risks on a matrix of probability versus severity. This part is called risk identification. We together take a range of factors into account to help you identify, prioritise and effectively handle your risks.

Then comes the second part, which is risk improvement – a number of preventative or risk controls are discussed that are aimed at alleviating as much as possible.

Thirdly, it is risk treatment which includes outsourcing to insurance companies and self insuring for certain risks (such as increasing Excesses or even not including certain extensions such as windscreen cover on vehicle insurances).

Get In Touch With Us!

From expert recommendations to on-site assessments, we offer a wide range of risk management services. So, if dealing with risk has been a concern for you and your organisation, then it’s about time you considered our risk management services. Call us on 1300 MED INS (1300 633 467) and we will be more than happy to guide you. We look forward to hearing from you!