5 questions to ask when building a Medical Malpractice RFP
by Kelly Reed

5 questions to ask when building a Medical Malpractice RFP

When considering a potential change in Medical Professional Liability carrier, there are many things to think about.  A traditional approach is to build a RFP and identify what items are needed|required from your future carrier and what information you would like to know about the carrier:

  1. A.M. Best rating
  2. Price of the product
  3. Limits of liability
  4. Percentage of claims settled vs. cases tried
  5. Historical experience in my state, region, and county

With a Supreme Court decision pending, I believe it is safe to say that healthcare is in a state of uncertainty and is constantly changing.  Uncertainty and change yield the creation of new risks.  Therefore, we advise providers to approach the “RFP Process” differently today than 10 or 20 years ago.  What are the questions we should be asking to read between the lines?

The following are 5 examples of the types of questions sophisticated buyers are asking today when approaching a Medical Professional Liability (Medical Malpractice) RFP:

  1. How are you going to help me achieve my goals?
  2. How have you changed your approach to reflect the future delivery model?
  3. What strategies have you taught your clients that have reduced risk and what was the quantifiable ($$$) impact of implementing them?
  4. How have you helped your clients achieve a more sophisticated model of risk financing?
  5. Provide examples of education and how it was communicated (live |  webinar | blog | podcast | email blast | newsletter | etc…)

For more information on how to build an RFP for Medical Professional Liability | Medical Malpractice contact Kelly Reed at kellyr@vastsolution.com.

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