CARMEL, Ind., March 25 /PRNewswire/ -- OBS Medical has entered into an agreement with Beazley, a major Lloyds of London-based insurer of medical malpractice for US hospitals, for Beazley to provide insurance coverage at a reduced cost to hospitals that implement OBS's Visensia(R) patient monitoring technology to provide early warning of clinical crises.
Recognized by Frost and Sullivan as a 2008 North American Technology Innovation award winner, OBS Medical's Visensia hospital patient safety suite fuses data from multiple vital signs into a numerical index of a patient's wellness. When the predictive index reaches or surpasses a set threshold, an alert is triggered, indicating a patient may be at greater risk of deterioration.
Hospitals that use Visensia in a manner approved by Beazley's underwriters will be entitled to receive reimbursement of a portion of the premium paid for their medical malpractice insurance at the end of the policy period. The value of this return premium will vary, depending on the coverage provided. Return premiums of more than $100,000 have already been paid out to individual Beazley clients that have implemented agreed measures to improve the quality of patient care.
Beazley's Lloyd's syndicates, rated A by A.M. Best, insure US hospitals on a non-admitted or surplus lines basis and coverage can only be arranged through an accredited surplus lines broker.
OBS Medical's Chief Operating Officer Wayne Nethercutt said, "Clinical data have demonstrated the value of Visensia in providing early warning of potentially fatal deteriorations in patients' condition that might otherwise be missed. I am delighted that Beazley, a major insurer of hospitals' medical malpractice exposures with a track record of innovation, has recognized the benefits this can bring in reducing med mal claims."
About OBS Medical
OBS Medical is based in Carmel, Indiana
|SOURCE OBS Medical|
Copyright©2009 PR Newswire.
All rights reserved