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Hospitals and Other Providers
Business Partners
Physicians and Other Practitioners

Career level:

Experienced Professional

Recommended for:

Business Operations
Physician Practice

Delivery Method:

Self Study

Advance Preparation:




Course Availability:

18 Months

Trend | Risk Management
The vulnerability of many medical devices to cyberattacks presents a serious safety concern for hospitals and health systems.
Column | Risk Management
Business Intelligence: New primary care models can help healthcare organizations achieve financial goals.
Blog | Risk Management
Some participants in CMS’s Oncology Care Model may exit the program instead of being transitioned into a two-sided risk model.
Case Study | Risk Management
Three provider examples, a physician dashboard, and planning tool illustrate the steps required to put designed processes, structures, policies, and systems into action.
How To | Risk Management
By considering risk as they set financial targets for physician groups under value-based payment contracts, provider organizations can more accurately assess the likelihood that physician groups might have favorable performance under the co...
Course | Intermediate | Risk Management

Malpractice Insurance and Risk Management

Course | Intermediate | Risk Management

Malpractice Insurance and Risk Management


This course describes the types of insurance available to healthcare organizations to protect against unavoidable losses. It also describes the objectives, benefits, costs, and challenges of risk management, and presents approaches to funding future losses. This course also explains how a provider can transfer risk to an independent third party and how the amount transferred affects the accounting treatment of loss. The course explains IRS requirements for reporting compensation arrangements on Form 990 and describes employers' requirements to provide, account for, and report post-employment and postretirement healthcare benefits.

Estimated course completion time: 1 hour and 30 minutes
After this program, you'll be able to..
  • Recognize how to calculate the covered loss of an insurance policy
  • Recognize the advantages of different methods of insuring
  • Recognize how an unfunded loss reserve can be used to fund future losses
  • Recognize how a captive insurer works
  • List common alternatives to occurrence-based coverage of malpractice insurance costs
  • Recognize how retained risk influences the accounting treatment of loss
  • Recognize how to estimate and accrue uninsured loss, including required conditions
  • Identify how providers can estimate the amount required to be accrued for incurred but not reported (IBNR) claims
  • Identify those incidents not reported during the term of a claims-made policy for which providers must accrue losses
  • Recognize how tail coverage works to cover claims incurred before but reported after cancellation of claims-made coverage
  • Define a retrospectively rated policy
  • Identify the appropriate amount of contribution to be made in a self-insurance trust each year
  • Classify trust fund assets in financial statements
  • Recognize the areas where exposure to risk is greatest in the healthcare organization environment
  • Identify established functions in risk control
  • List the different kinds of financial loss categorized as risk in the hospital
  • Identify the compensation information that not-for-profit organizations must disclose in IRS Form 990
  • Recognize employers' obligations to provide post-employment benefits
  • State when to recognize the expense associated with postretirement health benefit plans
  • Recognize what methods should be used to account for postretirement benefits

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The quick onset of COVID-19 forced the majority of health care organizations to change their business models in a significantly accelerated manner to ensure the continuity of their operations.  This has introduced unanticipated risks in the process, which can have a subsequent impact of data loss, data corruption or compliance failures.

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