Costs of Employee Healthcare, Safety and Training Also of Concern
HARTFORD, Conn.--(BUSINESS WIRE)-- Leaders within the United States healthcare industry, one of the nation’s largest and fastest growing employment segments, cite personnel concerns as one of their major business issues, according to a recent IndustryEdge® survey conducted by Travelers (NYSE: TRV). According to the results, decision-makers at healthcare organizations are primarily concerned with the cost of employee healthcare, the practice of hiring qualified employees, and overall employee safety and training. As a leading provider of property and casualty insurance services, Travelers is committed to offering insurance solutions to help healthcare organizations manage exposures and minimize loss costs.
“The healthcare industry is continuously growing, and our survey found that most major concerns shared by many in the industry are employee and personnel issues, from finding qualified candidates to safety and training,” said Heath Kidd, Healthcare Industry Manager, Travelers Commercial Accounts. “In addition to our IndustryEdge® niche-specific coverages, Travelers specializes in workers compensation products and tools that can help employers make better hiring decisions and minimize risk. Our products are designed to help agents and their customers pinpoint the coverage necessary to manage their institutions.”
Strong growth in the industry was proven in the survey. Fifty-two percent of respondents surveyed revealed they hired new employees in the last 12 months and 42 percent revealed that they plan to hire new employees in the next 12 months. In addition, 28 percent opened new locations in the last year and 33 percent have plans to open new locations in the next 12 months. To help employers with the hiring process, Travelers has developed an online pre-employment screening tool called JCP® Job Candidate Profile™. This tool helps measure attitudes and attributes that may be associated with safe, dependable job performance.
A total of 200 respondents to the survey included decision-makers, general managers, owners and partners for small, mid-sized and large inpatient and outpatient medical care facilities. Survey results revealed that 53 percent have in-house imagery and diagnostics, 47 percent perform outpatient surgical, 45 percent perform inpatient surgical, 44 percent offer hospital ambulatory services, 29 percent offer mobile MRI/mammography and 20 percent can provide independent ambulatory services.
Survey results also revealed that the top items that healthcare institutions plan for in advance include fire, flood, communications and network outages, computer breaches and hacking, and long-term power interruptions.
Other key findings from the survey include:
- 91 percent report initiating a green program of some type, with top initiatives including alternate disposal options, going paperless, water reduction, alternative energy and building/rebuilding with green materials
- 82 percent have a business continuity plan
- 82 percent have a disaster recovery plan
“Healthcare organizations are vital to the stability of our local communities,” said Kidd, “and Travelers has been deeply rooted in those communities for more than 150 years.” Kidd further explained, “In the event a disaster strikes, our first-in-the-industry mobile catastrophe response units are on the ground, in the affected community, to provide immediate support. We prepare for the worst so they can be at their best.”
In addition to offering the core lines of commercial insurance such as property, workers compensation, commercial auto, general liability, umbrella and directors/officers, the Travelers IndustryEdge® products and services for Healthcare Organizations include targeted solutions for outpatient and inpatient facilities, including medical offices, clinics, laboratories, diagnostic centers, ambulatory surgical centers, hospitals, and nursing homes.
Additional coverage options include:
- Emergency evacuation expense
- Condemnation of medical property
- Personal property of patients and residents
- Unintentional errors or omissions – failure to report locations
- Mobile medical offices
- Ordinance or law – communicable disease contamination
- Auto coverage for ambulances, passenger vans/shuttles and mobile medical units
- Wrap+® for Healthcare Organizations
- Directors, officers and trustees liability
- Employment practices liability
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. The company's diverse business lines offer its global customers a wide range of coverage sold primarily through independent agents and brokers. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and operations in the United States and selected international markets. The company generated revenues of approximately $25 billion in 2011. For more information, visit www.travelers.com.
Gail Van Cleaf, 651-310-6902
Source: The Travelers Companies, Inc.