Medical Professional Liability Risk Manager

Foundation Risk Partners is adding a Medical Professional Liability Risk Manager to their Cornell Insurance Services team in the Edison, NJ office.

About the role

The Medical Professional Liability Risk Manager identifies, assesses, and mitigates clinical risks for healthcare providers within an insurance brokerage firm. This role uses medical expertise to analyze potential claims, advise clients on risk reduction strategies, and collaborate with underwriters to secure appropriate coverage based on clinical risk factors.

Responsibilities

• Clinical Risk Assessment: Review medical records, incident reports, and claims data to identify potential clinical risks associated with patient care, including medication errors, standard of care compliance risks, and diagnostic errors. Detect and manage risk exposure, maintain and update organizational policies, improve documentation practices, and reduce legal exposure. Create and maintain risk audit databases and identify steps to prevent data breaches.
• Trend Analysis: Analyze clinical data to identify trends and patterns of risk within a healthcare provider's practice for proactive risk mitigation.
• Risk Mitigation Consulting: Advise clients on clinical best practices, quality improvement initiatives, and risk reduction strategies to minimize potential claims.
• Claims Review and Analysis: Evaluate clinical aspects of claims, including medical necessity and appropriateness of treatment, to identify areas for improvement and potential cost savings.
• Underwriting Support: Collaborate with underwriters to assess clinical risk profiles of healthcare providers, informing coverage recommendations and premium calculations.
• Education and Training: Develop and deliver clinical risk management training programs for healthcare providers on topics like informed consent, documentation best practices, and patient safety.
• Regulatory Compliance: Stay updated on relevant healthcare regulations and industry standards to ensure clients adhere to appropriate clinical risk management practices.

Requirements

• Clinical Background: Registered Nurse (RN), Physician Assistant (PA), or other relevant healthcare professional license with significant clinical experience.
• Risk Management Knowledge: Understanding of risk management principles, including risk identification, assessment, mitigation, and transfer.
• Analytical Skills: Ability to analyze complex medical data and identify potential risk factors.
• Communication Skills: Effective communication skills to interact with healthcare providers, underwriters, and clients, explaining complex clinical issues clearly and concisely.
• Problem-Solving Skills: Ability to identify root causes of clinical incidents and develop practical solutions to mitigate risk.

Qualifications

• Bachelor’s degree in Nursing or other health-related science; Master's preferred.
• 3-5 years of Risk Management experience preferred.
• Skilled Nursing Facility experience preferred, particularly in the geriatric field.
• RN, NP, PA, or allied health professional licensure.
• CPHRM certification preferred.

Pay

The estimated salary range for this position is $100,000 USD to $125,000 USD. Actual salaries may vary based on factors including performance, location, and experience. This range is one component of the total compensation package.

Benefits

• Comprehensive health-related benefits including medical, vision, and dental.
• 401(k) with company match.
• Company-paid life insurance, short-term disability (STD), and long-term disability (LTD).
• Generous PTO policy starting at 18 days per year plus 10 paid holidays and 2 floating holidays.