A California hospital received a $1.1 million rebate from its insurer for providing good patient safety, reports Healthcare Finance News.
Salinas Valley Memorial Healthcare System, a public district hospital located about 100 miles south of San Francisco on the Monterey Peninsula, received the rebate from its medical liability insurer, BETA Healthcare Group.
The hospital received the rebate in part because of its participation and full compliance in a program that focuses on safety related to obstetrical care. The program provides participants with 24 hours of in-person and Internet-based training.
"BETA understands that patient safety drives sound risk management, which in turn leads to reduced claims frequency and severity," said Annie Herlik, vice president of risk management at BETA. "The program is a win-win for our member hospitals, physicians and medical teams and, most of all, for their patients."
The rebate represents a 5 percent reduction in Salinas Valley's premium. A portion of it will be invested in more risk management and safety programs.
The 269-bed hospital has previously invested in bar coding medication for its pharmacy department, and improving patient flow in the emergency room in order to free up beds for more serious cases.
- read the Healthcare Finance News article
- read the BETA Group press release