CNA study reinforces need for strong risk management strategies
CNA HealthPro Insurance just announced the results of their latest annual survey titled Reducing Risk in a Changing Industry: CNA HealthPro Aging Services Claims Analysis 2004-2008. One interesting aspect of this study is CNA’s ability to break down claims information between the for-profit and the not-for-profit health care sectors. Some of the results make sense but some are quite surprising. So, it is not very surprising that claim frequency overall is lower in the not-for-profit sector. But, why, for example, are patient falls (the greatest source of claims at nursing homes) almost 20% more likely in not-for-profit settings? Are there some risk management techniques that the for-profit sector can teach the not-for-profit sector here? This study certainly confirms some historical trends and highlights the need to sound fundamental risk management strategies.