Preverity Subsidiary Designated as Patient Safety Organization by AHRQ
November 12, 2024
NASHVILLE, Tenn., Nov. 12, 2024 /PRNewswire/ — Preverity, Inc., a leading provider of risk management and patient safety solutions for the healthcare industry, announced today that its wholly owned subsidiary, Preverity PSO, LLC, has been listed as a Patient Safety Organization (PSO) by the Agency for Healthcare Research and Quality, effective September 6, 2024.
PSOs, established by the Patient Safety and Quality Improvement Act of 2005, play a crucial role in supporting healthcare providers in their efforts to enhance patient safety and healthcare quality. They foster a culture of safety by providing valuable resources, data analysis, and confidential reporting mechanisms.
Preverity’s decision to pursue PSO listing stemmed from recognizing the growing demand for specialized patient safety and quality improvement information among its partners and clients. The company’s extensive experience in risk management, coupled with its comprehensive database of over 80 percent of U.S. physicians, enables it to uniquely quantify the relationship between clinical activity and patient safety risk. Preverity PSO will provide actionable insights to support healthcare providers in executing a safe, high reliability clinical program.
Preverity PSO’s unique capabilities include national patient safety benchmarking data to alert providers of potential areas where they may face an elevated risk of safety concerns. This proactive approach empowers providers to address potential issues before they escalate, ultimately contributing to improved patient outcomes.
“We are thrilled to be recognized as a Patient Safety Organization by AHRQ,” said Gene Boerger, Preverity PSO Executive Director. “This designation underscores our unwavering commitment to enhancing patient safety and quality improvement.”
Preverity PSO will serve direct providers and health systems. The company’s comprehensive database, containing medical billing history, provider transactions, and education offers insights into healthcare provider performance and risk profiles. This database and other resources will help Preverity PSO play a key role in advancing patient safety and supporting healthcare providers in delivering safe, high-quality care.
To learn more about Preverity PSO and its services, please visit www.preveritypso.com.
About Preverity
Preverity, Inc. is the nation’s preeminent Insurtech provider of technology and advanced analytics focused on improving patient safety and advancing risk management for healthcare systems and medical malpractice insurance carriers. With the largest risk management repository of medical and pharmacy claims data in the US, Preverity provides timely and accurate intelligence on clinical activities benchmarked against national, regional, and system standards.
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Hospitals Gain Unprecedented Risk Insights as Juice Analytics and Preverity Launch AI-Powered Patient Safety Report
October 29, 2024
With insights from billions of healthcare records, hospitals now have the tools to reduce risk and improve outcomes.
NASHVILLE, Tenn., Oct. 29, 2024 /PRNewswire/ — Preverity and Juice Analytics have teamed up to launch the AI-powered Patient Safety Report, a groundbreaking solution designed to help hospitals identify and mitigate risk. Leveraging insights from over 80 billion healthcare transactions, this innovative analytical solution enables healthcare providers to benchmark their performance against national standards, empowering physicians to improve patient safety and enhance outcomes.
Preverity, an industry leader in risk management solutions for malpractice insurance, recognized the need for hospitals – many of which are self-insured – to shift from risk-pricing to risk-mitigation strategies. This gap in risk management required a tool that could provide actionable insights to help hospital systems identify and address critical safety issues. Juice Analytics collaborated with Preverity to develop the AI-powered Patient Safety Report, a comprehensive web-based solution that enables hospitals to compare their safety metrics against national benchmarks.
The result? Hospitals using the Patient Safety Report are empowering administrators and doctors with visibility into clinical activities that drive patient and health system risk. With plans to expand and enhance the solution, Preverity and Juice Analytics are at the forefront of revolutionizing risk management across the healthcare sector.
“Our Patient Safety Report illuminates critical patient safety metrics that hospitals have never seen before,” said Gene Boerger, COO of Preverity. “Juice’s expertise in data presentation and scalable platform was crucial in bringing this innovative tool to market, helping hospitals across the country reduce risk and improve patient outcomes.”
Zach Gemignani, CEO of Juice Analytics, adds: “The partnership with Preverity has helped us enhance our technology platform, including delivering AI features to summarize complex clinical data.”
Ready to transform data into actionable insights?
Contact Preverity to learn how data-driven solutions are helping organizations reduce risk and drive measurable improvements in patient safety.
About Preverity
Preverity, Inc. is the nation’s preeminent Insurtech provider of technology and advanced analytics focused on improving patient safety and advancing clinical risk management for healthcare systems and medical malpractice insurance carriers. With the largest risk management repository of medical and pharmacy claims data in the US, Preverity provides timely and accurate intelligence on clinical activities benchmarked against national, regional, and system standards. Learn more at www.preverity.com.
Preverity PSO, LLC is a federally listed Patient Safety Organization and wholly owned subsidiary of Preverity, Inc., focused on improving patient outcomes and enhancing overall safety in healthcare delivery.
About Juice Analytics
Juice Analytics is a leader in data storytelling, helping organizations turn complex data into clear, actionable insights. With over 20 years of experience, Juice Analytics partners with businesses to deliver data products that drive decision-making and create real business value. Learn more at www.juiceanalytics.com.
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Preverity Partners with Graves Gilbert Clinic to Enhance Patient Safety
October 7, 2024
NASHVILLE, Tenn., Oct. 7, 2024 /PRNewswire/ — Preverity, a leading provider of clinical risk analytics and patient safety solutions, and Graves Gilbert Clinic, a renowned healthcare provider in South Central Kentucky, have announced a strategic partnership to enhance patient safety and risk mitigation efforts.
This collaboration marks a significant step forward in healthcare, combining Preverity’s cutting-edge data analytics capabilities with Graves Gilbert Clinic’s commitment to delivering exceptional patient care. Through this partnership, Graves Gilbert Clinic will leverage Preverity’s analytics to gain deeper insights into patient safety outcomes and physician practice patterns.
“We are proud to partner with Graves Gilbert Clinic, an organization renowned for its dedication to patient care,” said Gene Boerger, Preverity President & COO. “Our combined expertise will empower Graves Gilbert Clinic with data-driven insights to optimize patient safety protocols and reinforce their commitment to providing exceptional healthcare.”
Preverity’s platform will provide Graves Gilbert Clinic with:
- Timely and accurate intelligence on clinical activities.
- Benchmarks against national, regional, and system standards.
- Insights into factors influencing physician risk.
- Tools to enhance patient safety protocols.
“This partnership reflects our commitment to delivering the best possible care to our patients,” said Chris Vowels, Chief Risk Officer of Graves Gilbert Clinic. “By leveraging Preverity’s data analytics expertise, we are taking proactive steps to enhance patient safety, mitigate risks, and continuously improve our healthcare delivery.”
Graves Gilbert Clinic has served the South Central Kentucky community for over 87 years. The Clinic is known for its commitment to medical innovation and its team of over 250 physicians, physician assistants, and nurse practitioners.
About Preverity
Preverity, Inc. is the nation’s preeminent Insurtech provider of technology and advanced analytics focused on improving patient safety and advancing clinical risk management for healthcare systems and medical malpractice insurance carriers. With the largest risk management repository of medical and pharmacy claims data in the US, Preverity provides timely and accurate intelligence on clinical activities benchmarked against national, regional, and system standards. For more information, please visit www.preverity.com. Preverity PSO, LLC is a federally certified Patient Safety Organization and wholly owned subsidiary of Preverity, Inc., focused on improving patient outcomes and enhancing overall safety in healthcare delivery.
About Graves Gilbert Clinic
For over 87 years, Graves Gilbert Clinic has been at the forefront of medical innovation and technology, providing exemplary healthcare services to South Central Kentucky. Located in Bowling Green, Kentucky, this multi-specialty clinic is home to more than 250 physicians, physician assistants, and nurse practitioners. The dedicated team continues to uphold the promise made by its founders, Dr. Graves and Dr. Gilbert, who committed to a Lifetime of Care. This commitment drives Graves Gilbert Clinic to deliver the highest standards of medical care and compassionate service to its community. For more information, please visit www.gravesgilbert.com.
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VCIA Panel: Expect a Gradual but Transformative AI Integration in Insurance
August 14, 2024
AM Best TV | Preverity Founder & CEO discusses the role of AI and advanced analytics in the insurance industry
Preverity’s Founder & CEO, Larry Van Horn, joined a panel of captive insurance professionals interviewed by AM Best TV at the Vermont Captive Insurance Association (VCIA) annual conference in Burlington, Vermont, highlighting the importance of developing audit processes for artificial intelligence.
Dr. Van Horn emphasized that AI has the potential to significantly enhance the accuracy and efficiency of clinical risk assessments by processing vast amounts of data quickly and identifying patterns that may not be immediately evident to human analysts. He also highlighted the importance of integrating AI in a way that supports and augments human decision-making, rather than replacing it entirely.
>> Watch the full recording below via AM Best TV
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Prepare for MPL Insurance Industry Disruption
January 31, 2024
Preverity President & COO discusses how to “Prepare for MPL Insurance Industry Disruption” in latest Tech Talk article in Inside Medical Liability
Advanced analytics, including generative AI, are disrupting insurance underwriting. As new entrants promise to disrupt the traditional MPL market, how can established MPL insurers use new data and analytics to transform their business and achieve elusive profitability?
Preverity’s President and Chief Operating Officer, Gene Boerger, discusses strategies for leveraging advanced analytics and AI through the customer use case, as adoption will only accelerate as new entrants challenge MPL underwriting.
>> View the full article online: Inside Medical Liability
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AWS cites Preverity’s use of Gen AI to address real customer needs
November 28, 2023
Preverity presented as a model for effectively using generative AI to help healthcare and technology companies manage, analyze and model healthcare data.
The one thing that will make gen AI “move from hype and interesting right now to fascinating and relevant is the customer use case,” said AWS channel leader Ruba Borno at the 2023 AWS re:Invent conference.
Borno referenced AWS solution integrator partner Innovative Solutions, which is working with a customer called Preverity, which helps healthcare and technology companies manage, analyze and model healthcare data, to optimize how it aggregated data for risk assessments.
“What used to take their analysts weeks to research and determine the risk profile now can be done very, very quickly. They’ve predicted savings in hundreds of thousands of dollars just in the first year. They’ve increased their time to do these quotes … they’re able to do it faster, reducing costs, speeding up the outcome to the customer. That’s one use case for a specific industry and a specific type of customer,” said Borno. “That’s what we’re excited about with our partners, thinking through the top use cases by industry that we can work on together.”
The 2023 AWS re:Invent conference was attended by 27,000 people in Las Vegas and half a million people virtually from Nov. 27 to Dec 1.
>> Read the full article here: AWS Working with Partners to Pinpoint Gen AI Opportunities
Related Articles:
>> How companies are using Innovative Tailwinds to enable their businesses with Generative AI Technologies
>> Innovative Solutions Launches Tailwinds on AWS
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Preverity: 2023 Best in Business Awards Finalist
March 29, 2023
Preverity was announced as a 2023 Best in Business Awards finalist by Nashville Business Journal. To view the complete article, visit https://bizj.us/1qi522
The judges have scored the nominees, and it’s time to meet the 2023 Best in Business Awards finalists.
To come up with our list of honorees, NBJ first accepted nominations from the public. Nominees then submitted questionnaires, which an independent panel of judges scored, looking at company culture, business plan, profitability and more. The highest-scoring companies made the cut for this year’s awards, which you can view in the slideshow below, presented in alphabetical order by category.
Join the Nashville Business Journal at Loews Vanderbilt Hotel May 24 to learn which companies are named category winners. In the meantime, join us in congratulating all of this year’s honorees using #NBJbiba.
About Nashville Business Journal
Nashville Business Journal is a multi-platform media company providing in-depth coverage of local business communities and breaking news reaching hundreds of thousands of readers each week. Through print, digital products such as its twice-a-day emailed news digests and face-to-face events, the Business Journal offers business leaders many avenues for making connections and gives them a competitive edge locally, regionally and nationally. Visit us at https://www.bizjournals.com/nashville/ to learn more.
» View the complete article here: https://bizj.us/1qi522
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Meeting Industry Challenges with Automation
February 15, 2023
Preverity COO discusses “Meeting Industry Challenges with Automation” in latest Tech Talk article in Inside Medical Liability
With 2023 well underway, it’s no secret that the medical professional liability (MPL) industry has faced and continues to face strong headwinds. In fact, rating agency AM Best notes that this insurance segment faces persistently depressed demand, rate adequacy concerns, rising loss costs and social inflation, diminishing reserve redundancies, and the potential for additional COVID-related claims frequency. Consequently, AM Best maintains a negative outlook for the MPL segment for this year.
Additionally, the industry has fallen behind other insurance lines in leveraging data and technology to improve underwriting efficiency, rating accuracy, and customer experience for agents, brokers, and insureds. While you may have no control over many of the factors afflicting the industry, you do have control over technology and data. Preverity’s Chief Operating Officer, Gene Boerger, discusses strategies and processes that make it much more feasible to understand better what your insureds are doing while automating underwriting.
» View the full article online: Inside Medical Liability
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What is Minor Surgery and Why Does it Matter?
October 5, 2022
Preverity, Inc. answers the question, “What is Minor Surgery and Why Does it Matter?” in published feature article in Inside Medical Liability
Matt Koerlin, Preverity’s Chief Product Officer and author of the article, describes a common scenario where doctors, who are assigned to a Minor Surgery class, usually pay higher premiums than doctors assigned to a “No Surgery” class. But the fact is, minor surgery is a vague term, and the answer to the question of “what is minor surgery?” varies depending on who is asked. Ultimately, doctors seeking coverage probably care most about their malpractice carrier’s opinion, but even those opinions can vary depending on which underwriter is working the risk, and what data is used to determine premium.
The key, Koerlin writes, is to have access to critical sources of data, such as historical medical billing data, to provide granular insights into procedures that doctors perform allowing carriers to better assess risk and appropriately set premium.
» Download the article
» View online: Inside Medical Liability
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Preverity and Positive Physicians Insurance Company Announce Transformative Medical Malpractice Partnership
September 6, 2022
Firms Partner to Improve Risk Prediction, Drive Underwriting Efficiency for Positive’s Business
NASHVILLE, Tenn., Sept. 6, 2022 /PRNewswire/ — Preverity, Inc., the nation’s preeminent analytics firm focused on improving risk prediction for medical malpractice insurance carriers and healthcare systems, and Positive Physicians Insurance Company (“Positive”), a leading medical professional liability insurer serving healthcare providers across 10 states, today announced a partnership that will see Positive implement Preverity’s Enterprise product to significantly enhance its underwriting, pricing and operational efficiency capabilities.
“We are excited to partner with Positive to help them transform their business through the effective use of actuarially-proven analytics tools,” said Preverity Chief Operating Officer Gene Boerger.
The partnership will allow Positive to focus on risk selection and evaluation, pricing integrity and improving underwriting efficiencies, all while growing responsibly and attracting top talent.
“Preverity is a forward-thinking technology company that is transforming the MPL industry with their risk prediction platform and advanced data analytics. These tools will enhance our understanding of physician practices, improve underwriting integrity, risk management and claims handling capabilities, all of which translate to making better business decisions,” said Positive CEO Michael Roque. “They provide the total package for us – an innovative product, a healthcare-savvy and customer-focused team, and the vision to help us transform the business.”
Nashville-based Preverity was founded in 2016 and serves several of the leading medical malpractice insurance carriers as well as health systems. The company has built an unrivaled database covering over 80 percent of US physicians, comprised of comprehensive medical billing history, over 80 billion provider transactions, education, and disciplinary actions, providing its clients unrivaled insights. Leveraging this database, Preverity’s data scientists have built comprehensive models to identify risk mitigation and pricing opportunities.
Founded in 2002, Berwyn, PA-based Positive provides medical malpractice insurance coverage for physicians, medical staff and medical groups. “We have strong profitability and growth initiatives and our partnership with Preverity will help us achieve those objectives, while providing us market-leading tools to better manage risk,” Roque said.
Preverity, Inc. is an InsurTech analytics company focused on automation and advanced underwriting for the Medical Malpractice Insurance and Health Systems industries. Preverity automates risk assessment, rate class placement, application completion, renewal automation, portfolio monitoring and target marketing to streamline processes and automate underwriting. For more information, please visit www.preverity.com.
Positive Physicians Insurance Company, a Pennsylvania domiciled insurance company, is a wholly owned subsidiary of Positive Physicians Holdings, Inc. ( OTCQX: PPHI). The Company underwrites medical professional liability coverage for physicians, their corporations, medical groups, clinics, and allied healthcare providers. Medical professional liability insurance protects physicians and other healthcare providers against liabilities arising from the rendering of, or failure to render, professional medical services. Positive Physicians Insurance Company offers claims-made coverage, claims-made plus, occurrence-based policies as well as tail coverage in Pennsylvania, New Jersey, Ohio, Delaware, Maryland, South Carolina, Michigan, Florida, Texas, and Georgia. For more information, please visit www.positivephysicians.com.