MagMutual Insurance Company, a leading medical professional liability insurer in the Southeast US, has launched the MagMutual Patient Safety Institute. MagMutual’s $50 million investment offers physicians a wide range of resources and practical tools that facilitate the adoption of best practices to improve safety and decrease exposure to risk.
The MagMutual Patient Safety Institute will systematically compile a database of information from more than 18,000 physician policyholders and compare those findings with those from other national databases. This data will enable the Institute to craft continuing medical education from evidence-based research and offer MagMutual policyholders access to insights and successes achieved by their peers and leaders in the field of patient safety. The Institute will also assist policyholders with self-assessments based on root-cause taxonomy.
"We believe the best defense against medical error is to assist our policyholders in the creation of environments conducive to optimal care and outcomes," said Dr Joseph Wilson, MagMutual’s chairman of the board and chief executive officer. "Patient safety is one of the most pressing healthcare challenges facing our physicians, making it a priority for us to invest in helping them improve their quality of care as well as reduce risks associated with that care delivery."
Future plans for the Institute include a state-of-the-art simulation lab that will model patient safety best practices in an advanced, simulated real-life environment. Completion of the lab is anticipated in 2014.
With more than 25 years of experience in cardiac surgery, patient safety and hospital administration, Dr Mary Gregg, MagMutual’s chief medical officer and senior vice president, has been named president of the MagMutual Patient Safety Institute. “Dr Gregg’s leadership and passion for advocating the safe practice of medicine makes her the perfect fit for this role,” said Wilson. “We are excited for her to lead this important initiative.”
"Physicians know the power of education and collaboration, and by tapping into our network of policyholders, we will be able to take our patient safety and quality efforts to new levels within the industry," said Gregg. "This increased focus on patient safety will also enhance patient satisfaction as patients receive care from professionals clearly committed to their safety."
MagMutual, MagMutual Patient Safety Institute, Dr Joseph Wilson