SALT LAKE CITY, July 12, 2016 /PRNewswire/ -- Healthcare Re is proud to announce the official launch of their specialized reinsurance business, which invites independent providers to resume control of their medical risk by offering tailored insurance packages and products. In partnership with national and international reinsurance experts, the leaders of Healthcare Re provide targeted analyses of the cost and scope of provider risk and leverage that data to build a custom solution.
"The uncertainty of medical risk and the potential of financial failure if those risks aren't appropriately covered is something that can really hold providers back and, in some cases, causes them to relinquish a degree of authority," said Charles Kano, Chief Operations Officer, Healthcare Re. "We want providers to have complete freedom in the delivery of quality patient care—giving them the resources and tools to manage their own risk and enhance their market position is one way we can do that."
According to Kano, the key to initially regaining control of medical risk is targeted risk assessment. Healthcare Re utilizes a multifaceted approach to determine a provider's risk, evaluating claims history, market competition, patient demographics and more; this data then provides the necessary insight for developing a custom reinsurance package from Healthcare Re's available products.
Ultimately, Healthcare Re will offer a broad variety of insurance products, including worker's comp, property and casualty, directors and officers, professional liability and general liability; while select products are currently available, others are under review and should be available by the end of 2016.
In addition to making their suite of insurance products available to individual providers, Healthcare Re will be the first insurance company to make its products and services available to an integrated provider network (IPN). Working alongside Nueterra Capital, Healthcare Re's private equity owner, and NueHealth, a sister company that gives healthcare consumers, chiefly patients and employers, direct access to targeted, transparent and affordable care, Healthcare Re will work with IPN leaders to deploy comprehensive insurance products, including warranty programs for bundled payment programs.
"When providers accept certain risks, they're essentially regaining control of their destiny and that, by extension, lets them focus on delivering quality patient care," said Dan Saale, CEO, Healthcare Re. "Our ultimate goal is to elevate the healthcare experience for patients, improving both cost and accessibility while creating an overall more efficient delivery model. Our custom reinsurance solutions are an important part of fully realizing that plan."
About Healthcare Re
Healthcare Re offers an innovative approach to alternative risk financing. We work with providers to identify and manage the total cost of risk, and then choose from a comprehensive portfolio of service products to build custom and cost-effective reinsurance solutions. We know that healthcare-specific risk taking paves the way for better coverage and lower premiums. In addition, we are the first company to deliver unique insurance products to integrated provider networks, offering the comprehensive services needed to cover network programs end-to-end. Ultimately, our goal is to reduce the cost and uncertainty of risk, freeing you to provide the quality of care your patients expect.
About Nueterra Capital
Nueterra Capital is a private equity investment and advisory firm with an exclusive focus on healthcare. Leveraging a deep understanding of key industry drivers, Nueterra Capital invests in entrepreneurs with innovative minds, while providing professional expertise and back office resources to improve their bottom line performance and drive growth. Nueterra Capital has invested in hundreds of new ventures and continuously delivers the resources and strategic direction that allow our partners to advance and improve every aspect of healthcare.
NueHealth is putting healthcare back into your hands. Right where it belongs. As your gateway to value-based healthcare, we have engineered an integrated world of primary and specialty care, interactive telehealth and online services, customized wellness and benefit programs, and more. At the center, we've established an unparalleled team of care coordinators to navigate you and your family through a seamless and satisfying experience. Because when we connect you to the right provider at the right time and at the right site of service, we help ensure quality outcomes and effectively drive down costs. Welcome to NueHealth: a simpler world of affordable, high-quality, streamlined healthcare.
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SOURCE Healthcare Re