In the 1970s, a medical malpractice crisis emerged when commercial insurers in California either abandoned the professional liability market or increased rates so dramatically that healthcare providers could no longer afford coverage. Hospital executives searched for alternatives, seeking to control and stabilize the cost of professional liability insurance and avoid the rate swings that had typified the commercial insurance market.
- Achieved an upgrade of our A.M. Best rating to A (Excellent) with a “stable” outlook
- Revised our mission and vision statements to align with our organizational focus on patient safety and risk management
- Approved dividends totaling $16.5 million, allowing us to return dividends for almost 25 consecutive years
- Formed Alternative Risk and Insurance Services (ARIS) to market excess liability coverages, risk management consulting services, third-party claims administration (TPA) services and claims consulting services
- Registered Health Providers Insurance Reciprocal, RRG (HealthPro) with the State of Washington
- Hosted a four-track Risk Symposium focusing on high risk issues in OB, ED, OR and PFCC (Patient and Family Centered Care) and sponsored 39 webinars delivered by nationally renowned experts
- Launched a two-year Perioperative Collaborative in which eight members are participating
- Developed and launched Just Culture and TeamSTEPPS training programs, as well as a Physician Office and Clinic Practice Toolkit
- Celebrated our 35th anniversary and maintained our position as the largest insurer of independent healthcare facilities in California
- Approved dividends totaling $16.5M, allowing us to return dividends every year since 1992
- Hosted a combined OB/ED/PFCC (Patient and Family Centered Care) High Risk High Reliability Symposium with more than 350 attendees
- Partnered with the California Patient Safety Organization and began hosting Safe Table meetings
- Awarded three scholarships to organizations committed to advancing Patient and Family Centered Care
- Introduced the Perioperative Collaborative set to launch in 2015, and continued the Quest for Zero initiatives in OB and ED
- A.M. Best A- (Excellent) rating upgraded to “Positive” from “Stable.”
- Launched the Patient and Family Centered Care (PFCC) and PFCC scholarship initiatives.
- Continued the “Quest for Zero: Excellence in OB”, now in the third year of the three-year, tiered initiative. Launched GNOSIS, a cutting-edge approach enabling members to identify areas of strength and areas of opportunity for training while establishing a solid metric of performance.
- Continued the “Quest for Zero: Excellence in ED” initiative with increased momentum. There are 50 hospitals and medical groups participating in the initiative, representing 68% of eligible members and insureds.
- Wrote $4,080,485 in new business in BETA Healthcare Group, which consisted of $3,293,105 in BETArma and $787,380 in HealthPro.
- Developed a new Excess HCL Program for hospitals with self-insured retentions and wrote an SIR account.
- For BETArma, of the 602 closed claims, which excludes property damage claims, 509 or 85% were closed with no indemnity. For HealthPro, of the 118 closed claims, 105 or 89% were closed with no indemnity.
- BETA Council declared a fourth special dividend in the amount of $10 million. Since its inception, BETArma has declared dividends exceeding $124 million with an additional $44 million designated for future dividends.
- Continued to see claims frequency decline with a record low 2.1 claims reported per 100 occupied bed equivalents, almost 50% lower than in the 1990s
- Assets exceeded $500 million, with the Fund Balance over $225 million and $50 million designated for future dividends
- Continued development of the Patient Centered Care initiative with the major emphasis on the Emmi pilot at four members
- Achieved outstanding results in the Quest for Zero initiatives in with 18 members securing Tier 1 and 12 securing Tier 2 OB success and 31 members and insureds securing Tier 1 ED success
- Obtained authorization for HealthPro in write business in Oregon, Nevada and Arizona
- Began offering the prefunded tail liability program to emergency medicine groups insured by HealthPro
- Restructured the obstetrics patient safety initiative, Quest for Zero: Excellence in OB, to include a tiered approach leading to 14 members meeting Tier 1 and nine meeting Tier 2
- Launched the emergency medicine patient safety initiative, Quest for Zero: Excellence in ED, in April leading to three HealthPro insureds and one BETArma member completing the Year 1 requirements
- Co-sponsored six members in the Institute for Healthcare Improvement Perinatal Community
BETA unveils its newly enhanced website at www.betahg.com.
BETA partners with Advanced Practice Strategies to improve perinatal safety and reduce obstetrical malpractice claims by helping its members purchase online education on topics such as fetal assessment and monitoring, management of shoulder dystocia and operative vaginal delivery.
BETA initiates new case law in medical staff privilege litigation and introduces a risk management initiative to address high severity claims in obstetrics and emergency services. BETA creates an electronic pediatric emergency newsletter entitled Risk TX, which is disseminated to BETA and HealthPro medical groups each quarter.
BETA introduces a risk management initiative to assist members in enhancing patient safety and decreasing risks. The company has a record year of growth in new business and sees its member contributions grow by $7.1 million.
BETA celebrates 25 years of excellence—a legacy of leadership. BETA designs and implements a new, cost-effective reinsurance program that includes eight highly rated reinsurers from both the direct and broker markets. BETA completes a smooth transition from occurrence to claims-made coverage by implementing a comprehensive communications plan with impacted members.
BETA establishes a monthly invoicing system that replaces monthly report forms. Based on positive operating results and a one-time reserve release for fiscal year 2002, BETA announces a $15 million dividend credit.
BETA increases its net member contributions by 39 percent and total revenues increase 34 percent. BETA unveils its newly enhanced website at www.betahg.com. The site now has many upgraded features including additional risk management links for member education as well as an expansion of our extranet.
BETA offers medical group professional liability coverage through its risk retention group, Health Providers Insurance Reciprocal, RRG (HealthPro).
BETA establishes an extranet, giving members Internet access to claims and incident trending data in addition to sophisticated analytical tools and streamlined reports.
The first nonprofit hospital joins the program. BETA Risk Management Authority establishes a new corporate identity, BETA Healthcare Group (BETA), to better represent its expanding membership, services and lines of coverage.
Legislation is introduced to allow nonprofit hospitals and healthcare facilities to join BETA. The law passes and becomes effective on January 1, 1999.
A.M. Best gives the program an A− (Excellent) rating, making BETA the first company of its type ever to be rated by the respected industry analyst. The company launches its website, expanding members’ access to forms, information and advice. BETACare is established to offer a comprehensive health and welfare benefits program to district hospitals and their employees.
BETA acquires Pacific Health Providers Insurance Company (PHP) to expand the range of coverages offered to members.
The BETA+ Equipment Support and Technology (BEST) program is created to cover equipment maintenance and repairs through a self-insurance pool similar to BETA.
BETA establishes Health Providers Mutual Insurance Company, RRG to offer excess liability coverage to member facilities. Services are further expanded to include property, boiler and machinery, earthquake, crime and fiduciary liability coverages through a partnership with Robert F. Driver and Associates. Having been administered by a third party, BETA now hires its own staff and opens its corporate headquarters in Alamo, California.
The Risk Management Resource Program is established to help fund facilities’ in-house risk management and quality improvement efforts.
A risk management awards program is introduced to reward members with outstanding loss prevention programs. The Underground Storage Tank Removal Fund gives member facilities grants up to $20,000 to reduce environmental exposures by removing underground tanks.
The program declares its first dividend credit due to exemplary loss experience and exceptional investment earnings. A longevity credit gives members a rate discount of up to 25 percent.
Ten years since inception, the program has grown to 62 members, $24 million in annual contributions and $60 million in assets. Coverage is extended to Nevada with the participation of LiCON, a 12-member cooperative of rural hospitals. BETA Risk Management Authority becomes its own public entity, giving members greater control.
Regional network meetings are introduced to help keep risk managers abreast of legal requirements and best practices.
Bylaws are amended to allow counties and other government agencies to the join the program.
Seventeen district hospitals become the founding members of BETA Risk Management Authority.