Healthcare

Risk management solutions

We provide insurance brokerage, risk analytics, clinical risk management consulting and claim management services tailored to healthcare organizations.

In an industry where the human touch is so vital, we act as an extension of your risk management team, recognizing that different facilities require different risk financing and risk control, as the industry evolves.

We reduce healthcare risk costs by working with insurers nationwide and internationally. Our healthcare risk management consultants can tap into a network of healthcare brokers, including dedicated teams in London and Bermuda.

Our healthcare risk management teams have deep experience across the healthcare and medical continuum, serving not-for-profit, private and publicly traded healthcare and medical organizations including:

• Behavioral healthcare
• Home healthcare
• Hospital and health systems
• Life sciences
• Managed care
• Physicians and allied health professionals
• Senior living

Our healthcare risk management offerings include

Professional and general liability for healthcare risks: We offer a variety of liability coverage, including healthcare professional liability, nursing home professional liability, medical malpractice and miscellaneous healthcare facility liability.

Risk consulting and risk transfer: We offer a variety of solutions, including errors and omissions liability and provider and employer stop loss.

Life sciences risk consulting and risk transfer: Our solutions include coverage for medical products, medical device and pharmaceutical manufacturers and clinical trials liability.

Coverage for other risk exposures

Healthcare property and casualty insurance, workers compensation, auto liability, aviation, climate and environmental.

Cyberinsurance: Risk consulting and risk transfer for network security and privacy exposures.

Financial and executive lines: Our financial and executive risk coverages include directors’ and officers’ liability, employment practices liability, errors and omissions, fiduciary and crime and fidelity.

Mergers and acquisitions: Our insurance due-diligence team provides detailed risk assessments and deal-specific insurance advice, using market knowledge and proprietary tools and data to reduce risk and increase deal value.  Solutions we broker include tax insurance and representations and warranties insurance.

Construction: We understand and can help mitigate construction-related risks for enhancing existing facilities or embarking on new ventures We understand the potential pitfalls  such as cost overruns and environmental exposures and the importance of safeguarding patient health during renovations.

Tailored human capital solutions

Doctors, nurses and other medical professionals are the lifeblood of care organizations, making healthcare workforce management strategies central to ongoing success and financial stability.

In this mission-driven sector, a stable and engaged workforce empowers healthcare providers to enhance access, deliver high-quality care and drive innovation. When staff feel valued and supported, retention improves and patient care outcomes rise.

In North America, WTW provides retirement, healthcare consulting, compensation and workforce and talent management services to over 1,000 hospitals and healthcare organizations.

Health Systems Coffee Chats

WTW hosts Health System Coffee Chats, a quarterly series where leaders from prominent health systems come together to discuss their latest insights on today’s most pressing topics – from total rewards and wellbeing to benefits trends and workforce challenges.

These sessions are designed for directors and vice presidents with systemwide oversight of benefits and total rewards. For more information, please contact Jennifer Whitlow or Meghan Keller.

1. Optimized total rewards: Attracting and retaining dedicated, qualified clinical and non-clinical talent is critical to success in the healthcare industry. We provide the data, insights and strategies you need to compete effectively for scarce medical talent, improve employee resilience and keep your best people. Our services include:
   • Compensation strategy and design
   • Healthcare consulting
   • Retirement and financial resilience benefit strategy
   • Executive compensation reviews
   • Total rewards optimization surveys and analytics
2. Enhanced employee experience: Though pay and benefits are crucial, high-performing healthcare organizations recognize that a differentiated employee experience is equally important. We partner with you to design a high-performance employee experience that supports engagement, resilience and safety amid ongoing industry disruption. 
   Our services include:
   • Employee engagement surveys and software to help organizations understand evolving employee needs and sentiment
   • Culture of safety in healthcare survey (Leapfrog certification)
   • Employee communication strategy and implementation
   • Pay equity and transparency analysis and design
   • An employee experience platform — Embark — that provides timely information at critical moments
3. Efficient benefits operations: Operational efficiency is critical to healthcare organizations’ ability to compete in a challenging climate. We can help you leverage resources and improve outcomes with services such as:
   • Benefits administration and outsourcing solutions for healthcare, retirement and other benefits
   • WTW’s LifeSight pooled employer 401(k) plan
   • Benefits harmonization projects such as we did with one multi-entity health system
   • Merger and acquisition support and solutions

4. Healthcare workforce management: As consolidation and automation transform how work gets done, we’ll partner with you to provide a holistic view of all the skills your organization has today and will need tomorrow. Together, we’ll design a workforce strategy that improves performance and supports quality care 

   Our services include:

   • Workforce analytics dashboard and workforce management strategy and solutions
   • Career analysis and design, Job architecture and job leveling
   • Work transformation and a skills-first approach to work architecture
   • Talent intelligence reports and labor market insights
   • Collective bargaining strategy, design and tools

Effective use of capital

Mounting cost pressures and industry consolidation are forcing healthcare organizations to adopt new capital management practices. We can help with investment advisory services and M&A solutions for any healthcare organization.

Services include:

• Outsourced chief investment officer (OCIO)
• Funds and strategies
• Mergers and acquisitions
• Endowment and foundation investment strategy

As disruption reshapes the healthcare landscape, WTW can help you address your people, risk and capital needs so you can seize new opportunities, strengthen resilience and confidently plan for the future.