University of Iowa Ionwave #18659

Analysis and Recommendations for Medical Malpractice Liability Financial Structure at University of Iowa Health Care

The University of Iowa Health Care is seeking professional services to analyze and recommend improvements to its medical malpractice liability financial structure. - Government Buyer: - University of Iowa Health Care, Purchasing Department - Contact: Andy Lane - Scope of Work: - Assess Iowa medical malpractice laws and the 28E agreement with the Iowa Department of Justice - Evaluate the current insurance structure, including Iowa Medical Mutual Insurance Company (IMMIC) - Analyze historical malpractice claims and the flow of malpractice funds - Recommend whether to convert IMMIC to a captive insurance company, dissolve IMMIC for full self-insurance, or continue with the current structure - Develop a malpractice risk index for each medical and surgical specialty to inform premium levels - Notable Requirements: - Suppliers must have experience advising hospitals or academic medical centers on professional liability financing - Familiarity with physician practice plans and alternative malpractice financing models is required - Submission of audited financial statements - Compliance with HIPAA and GLB regulations - Agreement to University's Professional Services Agreement and Business Associate Agreement if handling protected health information - No specific OEMs or vendors are named in the solicitation - Contract Structure: - Initial one-year term with up to four one-year extensions (maximum five years)

Description

The University of Iowa is soliciting written proposals from qualified suppliers to provide an analysis of and recommendation for the financial structure of its medical malpractice liability program within University of Iowa Health Care. The scope includes assessing applicable Iowa medical malpractice laws, evaluating the current policy and insurance structure, and providing recommendations on potential changes such as converting to a captive insurance company or dissolving the current mutual insurance company. The project also requires developing a malpractice risk index for medical and surgical specialties to determine premium levels. The solicitation is a Request for Qualifications - Sealed and responses must be submitted electronically.

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