About MRM Group

Healthcare delivery is more complex than ever. From the rapid adoption of EHR systems, to the rise of hospitalist-based patient care, to the day-to-day pressure of increasing productivity without compromising patient safety, it’s no surprise that errors and oversights continue to increase, along with preventable adverse events—all which impacts patient satisfaction.

 

In fact, it has been estimated that upwards of 70 percent of adverse events are the result of communication lapses, follow-up lapses, system deficiencies, inadequate informed consent, and poor patient relations—all completely preventable. And as a result, billions of dollars are unnecessarily spent every year, both in malpractice premiums as well as in settlements and verdicts. Needless to say, these costs, along with the incalculable resources required to manage and mitigate these costs, represent an extraordinary burden to all healthcare stakeholders: from providers, to facilities, and ultimately, to patients.

 

Further, patient satisfaction—as measured through HCAHPS scores—now accounts for 30% of a hospital’s VBP (value-based purchasing) score, and can profoundly impact its CMS reimbursement.

 

Risk education and consulting firms have always existed, but their approaches were clearly ineffective. Not only was the problem not getting better, it was getting worse.

 

In 2003, MRM Group™ was formed, with the vision of taking an entirely new approach to risk and patient safety education. It would help organizations identify their highest priority exposures based on an analysis of their claims, benchmarking, and risk assessments. It would create highly-engaging risk education programs that included live sessions, and content that was specialty-specific and based on actual malpractice cases. The programs would be delivered through a variety of modalities, ensuring a deep, reinforced understanding of the topics, empowering participants to change the way they practice and to deliver the highest possible levels of patient care. The solution would be managed through a cloud-based technology platform, and perhaps most importantly, the results would be measured. Everything would be measured.

 

It worked. Over ten years later, MRM Group has transformed the way many institutions think about risk education, and has been engaged by clients from coast to coast, delivering results never before thought possible. Together with our clients, MRM Group is changing the landscape of medical malpractice and patient safety and satisfaction, and improving the US healthcare system.


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WHITE PAPER

Small and Mid-Sized Insurers: Closing the Competitive Gap through Risk Education

 

Competing with large insurers has never been easy, and current trends in the healthcare space have intensified this challenge. In this whitepaper, you’ll learn how to turn a traditional small-firm disadvantage into a distinct competitive advantage.

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Captive Insurer / Risk Retention Group

Captive Insurer / Risk Retention Group

As competition in the medical professional liability insurance market continues to grow, many captives and risk retention groups (RRGs) are looking for ways to attract new policy holders as well as retain existing ones. More than ever before, improving your insureds’ risk profiles and providing value-added services will play a critically important role in your organization’s success.

Through MRM Group’s comprehensive risk education program, captives and RRGs alike have been able to gain that competitive edge, while driving substantial reductions in claim frequency and claim severity. MRM Group’s powerful, cloud-based platform offers a turn-key, private-labeled solution that can quickly and easily deliver risk education content to all policy holders.

Further, MRM Group’s live and online risk education programs provide participants with the CME credits they need, while enabling them to deliver the best possible patient care.

CFO-charts

 

Insurance Broker

Insurance Broker
In a business where service and added value are your key differentiators, medical malpractice insurance brokers turn to MRM Group™ to both deepen existing relationships and acquire new ones. By partnering with MRM Group, brokers are able to provide a service that has proven to profoundly impact their clients’ claim activity, risk profile, and bottom line, while enabling them to practice better medicine and earn the CME credits they need.

Over the past ten years, MRM Group has worked with medical malpractice insurance brokers large and small, and with tens of thousands of healthcare providers, from coast to coast. Our results speak for themselves.

Insurance Carrier

Insurance Carrier
Just as insureds struggle to manage the new exposures introduced by the extraordinary changes we’re experiencing in the healthcare industry today, insurers are similarly challenged to understand the risk implications and to evolve accordingly. Further complicating matters is the extremely competitive nature of the business. Changing client needs creates opportunities—opportunities for both you and your competitors to fulfill those needs. Who will prevail?

More than ever before, improving your insureds’ risk profiles and providing value-added services will play a critically important role in your company’s success.

For over ten years, MRM Group™ has enabled healthcare providers and institutions to dramatically reduce the frequency and severity of their malpractice claims, translating to the increased underwriting profitability of their insurers. The results are measured and proven. Further, MRM Group’s live and online risk education programs provide your insureds with CME credits while enabling them to deliver the best possible patient care.

Residency Program Director

Residency Program Director
 

For residency training programs, patient safety and risk management education takes on special importance. Not only are risk mitigation needs greater with less-experienced providers, but teaching residents about the medical-legal environment in which they operate and instilling best practices at the earliest stages of practicing medicine are critical components of the residents’ education.

MRM Group™ understands these special needs and offers curricula designed to address these challenges.

Further, MRM Group’s education solutions play a vital role in supporting residency programs’ ACGME accreditation by:

  • Incorporating ACGME milestones into its curricula
  • Measuring and tracking individual and program-wide achievement of these milestones
  • Facilitating data collection and reporting to the ACGME

Chief Medical Officer

Chief Medical Officer
The practice of healthcare is more complex than ever before, and as every chief medical officer knows, ensuring that your medical staff has the knowledge, tools, and resources to deliver high-quality care—safely and efficiently—is often easier said than done. From technology to staffing to legislation, rapid change introduces new exposures to risk and compromises to patient safety and satisfaction—burdens that fall largely on the shoulders of today’s CMOs.

MRM Group™ has helped CMOs tackle these challenges head-on. Through its innovative, CME-accredited, live and online education programs, MRM Group has empowered tens of thousands of healthcare providers to deliver the best possible care to their patients, driving the best possible outcomes and patient experiences. Our multi-modality, specialty-specific approach to risk and patient safety education has been widely embraced by all types of healthcare providers—physicians, nurses, APRNs, PAs, etc.—and has proven to deliver sustained practice change.

Risk Manager

Risk Manager

 

In working with and speaking with hundreds of risk managers across the country, MRM Group™ has observed some common themes:

  • With so many responsibilities to juggle with such limited resources, risk and patient safety education often takes a backseat to more “dire” needs such as insurance and claim management, and incident investigation and reporting.
  • The need for a more proactive and less reactive approach is clear, but effectively translating this need to a practical course of action has been extremely challenging.
  • The inability to measure the results of risk education and quantify an economic return on investment has made it difficult to obtain or increase budget on education initiatives.
  • With increased focus on—and accountability for—patient satisfaction as brought about by the ACA, the scope of traditional risk management has widened considerably and has become even more complex.
  • With risk and patient safety education often seen as a burden by providers, compliance and resistance is a concern.
  • Any solution considered must not require additional staffing to implement and manage on an on-going basis.

 

Sound familiar?

MRM Group™ transforms the way that risk managers think about risk and patient safety education.  We offer a variety of CME-accredited, live and online education programs that will address the unique needs of any healthcare system or hospital.  Further, MRM Group forms a true partnership with its clients—becoming an extension of your in-house risk management team.

Our unique, cloud-based technology platform facilitates content delivery, logistics, and compliance, plus for the first time, you’ll be able to measure end-to-end results.  From participant receptivity, to sustained behavior change, to bottom-line financial impact.

 

Chief Financial Officer

Chief Financial Officer
In today’s healthcare climate, the CFO and finance leadership are facing challenges that could not have even been imagined a generation ago. Among these challenges are the rapidly-increasing exposures to risk—as evidenced by the seven- and eight-figure verdicts that keep cropping up in the headlines at an alarming rate.

MRM Group™ has developed an innovative and incredibly effective way to help healthcare CFOs and their organizations mitigate financial risk. Further, MRM Group has enabled CFOs to not only decrease losses, but to actually improve their financial results. We like to think of it as turning an expense into a profit center.

Further, patient satisfaction—as measured through HCAHPS scores—now accounts for 30% of a hospital’s VBP (value-based purchasing) score, and can profoundly impact its CMS reimbursement. For the first time, patient satisfaction has become a key interest of the CFO and the finance organization.

Through unique risk education and consulting services, MRM Group has been able to drive sustained practice change that, through careful tracking and meticulous measurement, has translated to some impressive bottom-line results.

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Further, many clients receive premium credits and substantial returns of reserves to their organization’s operating budget.