Steward Health Care Launches New Subsidiary Offering Liability Protection
U.S.-based company launches Titan Risk Retention Group that offers professional liability protection for physicians and health care professionals in both primary care and specialist settings
Today, Steward Health Care, the nation’s largest tax-paying, for-profit physician-led health care network, announced their new liability protection subsidiary, Titan Risk Retention Group (RRG). Titan RRG will offer professional liability coverage to physicians and health care professionals practicing in 48 of the 50 states, protecting them from volatile prices and reducing costs.
Titan RRG’s product offering reduces the growing burden of professional liability premiums facing providers across the country, and aligns with Steward’s core mission of delivering extraordinary health care that unlocks access to the high quality, low cost care everyone deserves. In considering local markets and trends, Titan RRG offers customizable and competitive rates, including potential cost savings to the provider up to 30 percent. Additional product benefits include Titan’s premium credits and an on-line education platform that meets regulatory Continued Medical Education (CME) requirements.
A captive insurance program is not a new a concept to Steward Health Care System as they have self-insured their employed physicians and hospital entities for over 10 years through TRACO, an internationally domiciled entity in the Cayman Islands, with a long history of providing stronger and well managed protection to those delivering health care on the front lines.
“With our successful history of reducing costs associated with medical malpractice claims, we look forward to offering this benefit through Steward Health Care Network to partnering providers,” said Ruben King-Shaw, Jr., chief strategy officer of Steward Health Care System and president of Steward Health Care Network. “Now, we are excited to be able to share the Titan RRG product with providers, nationally.”
“Over the past decade, Steward Health Care Network has perfected a business model that keeps patients healthy and reduces the overall cost of providing high-quality care,” said Doug Costa, Chief Operating Officer of Steward Health Care Network. “Titan RRG is another tool that will help Steward and participating physicians more effectively deliver high quality and affordable care in today’s complicated marketplace.”
To learn more about Titan RRG, visit www.TitanRRG.com.
About Steward Health Care
Steward Health Care is the largest private, for-profit physician-led health care network in the United States. Headquartered in Dallas, Texas, Steward operates 36 hospitals in the United States and the country of Malta that regularly receive top awards for quality and safety. The company employs approximately 40,000 health care professionals. The Steward network includes multiple urgent care centers and skilled nursing facilities, substantial behavioral health services, over 7,900 beds under management, and approximately 2.2 million full risk covered lives through the company's managed care and health insurance services.
The Steward Health Care Network includes five thousand physicians across 800 communities who help to provide more than 12 million patient encounters per year. Steward Medical Group, the company's employed physician group, provides more than six million patient encounters per year. The Steward Hospital Group operates hospitals in Malta and nine states across the U.S., including Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.
About Titan Risk Retention Group
U.S.-based Titan Risk Retention Group (RRG) offers professional liability protection for physicians and health care professionals in both a primary care and specialist setting. Licensed in states throughout the country, Titan RRG (formerly TRACO) is a financially strong company, with over 30 years-experience in the physician/clinician practice and hospital insurance environment. Coupled with access to world class experts and top-tier panel defense counsel, our high-level and experienced staff effectively manage the entire professional liability continuum (claims management/risk reduction/insurance coverage) and serve more than 1,400 customers across the country. Additional information is available at www.TitanRRG.com.
Additional information is available at www.steward.org