IronHealth, the specialty healthcare unit of Ironshore Inc., has launched two financial risk products designed for healthcare organizations: Provider Excess Insurance (PEI) and HMO Reinsurance (HMORe).
IronHealth’s new products address the ongoing evolution in the healthcare sector as healthcare providers and Health Maintenance Organizations assume additional financial risk in connection with the cost of care for members. In addition, the healthcare reform environment has resulted in the creation of new types of managed care organizations and healthcare financing initiatives, including Accountable Care Organizations (ACOs), Consumer Operated and Oriented Plans (Co-Ops), Bundled Payments for Care Improvement (BPCI) and other demonstration programs sponsored by the Centers for Medicare and Medicaid Services (CMS). Existence of emerging risks requires new insurance solutions to help such organizations protect against financial exposure from catastrophic claims that could severely impair operations.
IronHealth’s PEI product will be available in selected states nationwide; HMORe will be offered in all states, effective immediately.