News
FOR IMMEDIATE RELEASE
CONTACT:
Henry Bostic
Premier Inc.
704.733.5695
32 participants in Premier Insurance Management Services share $733,000 in experience credit payments
Health systems share in Excess Workers’ Compensation profits
CHARLOTTE, NC (February 19, 2008 ) – Nearly three quarters of a million dollars in experience credit payments have been returned to 32 healthcare systems participating in the Excess Workers’ Compensation program sponsored by Premier Insurance Management Services Inc., a wholly owned subsidiary of Premier Inc.
The experience credit payments of $733,491, made on January 31, 2008, came from profits posted for policy years 2002/2003 and 2003/2004 with Safety National Casualty Corporation, which provided the insurance to the 32 participants that received the experience credit payments. Premier Insurance Management Services Inc. has offered the program to Premier members since 1993.
The Premier Insurance Management Services Inc. sponsored Excess Workers’ Compensation program has been underwritten by Safety National Casualty Corporation since 2000. Through the program, participating members have the opportunity for experience credit payments of up to 30 percent of their premiums. Forty-eight hospital systems currently participate in the program with an annual premium volume of more than $10 million.
About Premier Insurance Management Services Inc. (PIMS)
Incorporated in 1987, PIMS is an Illinois for-profit corporation wholly
owned by Premier Inc. PIMS provides contracted management services for
American Excess Insurance Exchange, Risk Retention Group (AEIX), and is
attorney-in-fact for Premier Insurance Exchange, Risk Retention Group (PRx).
PIMS also serves as program manager offering enhanced sponsored programs
with leading commercial insurers through a comprehensive portfolio of
property, casualty and employee benefit products. Other services include
providing claims and risk management assessments and education offerings
regarding medical professional liability for hospitals and their physicians.
About Premier Inc., 2006 Malcolm Baldrige National Quality Award recipient
Serving more than 2,000 U.S. hospitals and nearly 50,000 other healthcare
sites, the Premier healthcare alliance and its members are transforming
healthcare together. Owned by not-for-profit hospitals, Premier operates one of
the leading healthcare purchasing networks and the nation's most comprehensive
repository of hospital clinical and financial information. A subsidiary operates
one of the nation's largest policy-holder owned, hospital professional liability
risk-retention groups. A world leader in helping healthcare providers deliver
dramatic improvements in care, Premier is working with the United Kingdom's
National Health Service North West and the Centers for Medicare and Medicaid
Services to improve hospital performance. Headquartered in San Diego, Premier
has offices in Charlotte, N.C., Philadelphia, and Washington. For more
information, visit www.premierinc.com.