New risk management study

A new study by the Healthcare Financial Management Association (HFMA) in Chicago will provide a new database of risk cost information. HFMA is asking organizations to volunteer cost-of-risk data, which will be used to establish benchmarks for provider groups. Over the next five years, HFMA will conduct case management studies to analyze superior performance and develop best practice models. Past studies have shown the top cost components of risk management are employee benefits, professional and general liability, workers’ comp, and administration.