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MPL Liability Insurance Sector Report: 2023 Financial Results Analysis and 2024 Financial Outlook

Wednesday, May 22, 2024, 2:00 p.m. ET
Hear analysis and commentary on 2023 industry results and learn what to watch for in the sector in 2024, including an analysis of the key industry financial drivers.

MPL Association’s National Advocacy Initiative in Full Swing

The MPL Association is shifting its focus toward state policy makers with a new program—the National Advocacy Initiative. This comes at an important time for the MPL community as the deteriorating policy environment in the states is resulting in increasing attacks on established reforms.

 

FEATURE

How Patient Engagement Contributes to MPL Claims

Remediating Patient Dissatisfaction Can Curb MPL Claims



In the wake of the COVID-19 pandemic, both providers and patients suffer from burnout. For patients, this burnout can manifest in low patient engagement, which can lead to disengagement. This disengagement, in turn, can lead to a decline in a patient’s ability to manage their own care, which is correlated with poor outcomes.

In a recent study, medical professional liability (MPL) insurance carrier Coverys reviewed five years of closed MPL claims to identify events where a lack of patient engagement was connected to alleged medical errors. The study offers potential areas of focus to increase patient engagement to assist providers and healthcare organizations to reduce the likelihood of a related claim and improve:

Healthcare Outcomes: Engaged patients are more likely to comply with treatment recommendations, take medications as prescribed, and adopt preventative behaviors.

Patient Compliance: Interaction between providers and patients actively reduces noncompliance risk.

Self-Efficacy: When healthcare providers are aware of ways that they can improve patient self-efficacy, they can help patients in need of assistance gain the confidence and ability to take steps to achieve healthcare goals.

Return-on-Investment (ROI): Improved patient engagement can positively impact provider productivity and ROI, reducing the number of visits necessary to realize a successful outcome.