Can PCMH mean savings on malpractice insurance?

During a recent conversation with NCQA, we learned providers with patient-centered medical home (PCMH) certification may be eligible for a discount on their malpractice premiums. This is a big deal! The discount is based on providers ability to demonstrate to payers that many of the activities required within PCMH improve patient safety (e.g. medication reconciliation, follow up after hospital or ER visit, closing the referral loop, enhanced use of their EHR, population health management, care team training, patient education, improved processes and more).

 

Some medical professional liability insurance carriers look at the medical home as being less risky than providers who are not PCMH certified. For example, a Pennsylvania-based medical insurer has been offering NCQA recognized PCMH practices a 5% discount on their malpractice insurance since 2008.

 

This is an exciting addition to the list of benefits for practices who work hard to achieve PCMH Recognition and provide high quality care to patients.   

We recommend you contact your medical malpractice insurer to see if a discount is available or negotiable. Insurers may be unaware this is happening in the market, and a discount could mean significant savings for providers.

Are you curious to know more about PCMH Recognition and how to achieve it? No problem! Check out this article, and to find out more click here.

By: Bethany Downs