System and method for improving the operation of a business entity and monitoring and reporting the results thereof
First Claim
1. A method for providing improved performance of an insured healthcare facility wherein a program catalyst monitors the insured healthcare facility on behalf of an insurer, the method comprising the steps of:
- determining insurance program requirements designed to reduce risks of accidents associated with the healthcare facility;
formulating an insurance program containing the insurance program requirements;
the program catalyst providing procedures designed for the insured healthcare facility to meet the insurance program requirements and reduce risks of accidents associated with the healthcare facility;
the program catalyst monitoring the results of the procedures to identify the conformance of the insured healthcare facility to the insurance program requirements;
the program catalyst identifying the conformance of the insured healthcare facility to the insurance program requirements;
the program catalyst identifying the conformance weak points of the insured healthcare facility;
the program catalyst providing countermeasures to mitigate the conformance weak points of the healthcare facility and further aid the insured healthcare facility to meet the insurance program requirements and reduce risks of accidents associated with the healthcare facility;
providing a web-enabled software solution for providing the monitoring results to the healthcare facility, the program catalyst, and the insurer;
the program catalyst communicating data indicative of the conformance of the insured healthcare facility to at least one of the healthcare facility and the insurer using the web-enabled software solution; and
the insurer modifying the insurance program based on the conformance to the insurance program requirement by the healthcare facility.
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Accused Products
Abstract
The present invention is a method and system for providing reduced insurance premiums to an insured entity and a reduced risk of loss to an insuring entity. A program containing certain program requirements for the insured entity is created, and procedures are designed for the insured entity to meet these predetermined program requirements. The proximity in meeting these program requirements are monitored and then communicated to an interested third party, such as the insurer. Thus, the present invention by monitoring the insured entity, and communicating information relating to the insured entity to the insuring entity, allows the insuring entity to reduce the insurance costs to the insured entity if such monitoring results in favorable information for the insurer.
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Citations
22 Claims
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1. A method for providing improved performance of an insured healthcare facility wherein a program catalyst monitors the insured healthcare facility on behalf of an insurer, the method comprising the steps of:
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determining insurance program requirements designed to reduce risks of accidents associated with the healthcare facility; formulating an insurance program containing the insurance program requirements; the program catalyst providing procedures designed for the insured healthcare facility to meet the insurance program requirements and reduce risks of accidents associated with the healthcare facility; the program catalyst monitoring the results of the procedures to identify the conformance of the insured healthcare facility to the insurance program requirements; the program catalyst identifying the conformance of the insured healthcare facility to the insurance program requirements; the program catalyst identifying the conformance weak points of the insured healthcare facility; the program catalyst providing countermeasures to mitigate the conformance weak points of the healthcare facility and further aid the insured healthcare facility to meet the insurance program requirements and reduce risks of accidents associated with the healthcare facility; providing a web-enabled software solution for providing the monitoring results to the healthcare facility, the program catalyst, and the insurer; the program catalyst communicating data indicative of the conformance of the insured healthcare facility to at least one of the healthcare facility and the insurer using the web-enabled software solution; and the insurer modifying the insurance program based on the conformance to the insurance program requirement by the healthcare facility. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 16, 20)
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9. A method for creating an insurance product for an insured healthcare facility while minimizing insurance risks and reducing premium costs, said method comprising the steps of:
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determining insurance program requirements designed to reduce risks of accidents associated with the healthcare industry; creating a new insurance product containing one or more insurance program requirements; the insurer distributing the new insurance product to the insured healthcare facility through a distribution channel; providing procedures designed for the insured healthcare facility to meet the insurance program requirements and reduce the risks of accidents associated with the healthcare facility; the program catalyst monitoring the insured healthcare facility to determine whether the insured healthcare facility is meeting the insurance program requirements; the program catalyst determining the conformance of the insured healthcare facility to the insurance program requirements; the program catalyst identifying the conformance weak points of the insured healthcare facility; the program catalyst providing countermeasures to mitigate the conformance weak points of the healthcare facility and further aid the insured healthcare facility to meet the insurance program requirements and reduce risks of accidents associated with the healthcare facility; providing a web-enabled software solution for providing the monitoring results to the healthcare facility, the program catalyst, and the insurer; the program catalyst communicating data indicative of the conformance of the insured healthcare facility to at least one of the healthcare facility and the insurer using the web-enabled software solution; and the insurer modifying the insurance program based on the conformance to the insurance program requirements by the healthcare facility. - View Dependent Claims (10, 11, 17, 21)
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12. A system for providing improved performances for a target entity, the system comprising the components of:
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an independent program catalyst that is operative to; identify program requirements designed to reduce risks of accidents associated with the healthcare industry; reduce risks of accidents associated with the healthcare industry by implementing procedures directed towards assisting the target entity in meeting the program requirements; monitoring the results of the target entity to identify the conformance of the target entity to the program requirements; attributing a score to the monitored results; identifying the conformance weak points of the target entity; providing countermeasures to mitigate the conformance weak points of the target entity and further aid the target entity to meet the insurance program requirements and reduce risks of accidents associated with the target entity; and a web-enable software solution for providing the monitoring results and the scores to the target entity and the independent program catalyst; the program catalyst communicating data indicative of the conformance of the target entity to at least one of the healthcare facility and the insurer using the web-enabled software solution and the insurer modifying the insurance program based on the conformance to the insurance program requirements by the target entity. - View Dependent Claims (13, 14, 15, 18, 22)
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19. A method for improving performance of a healthcare facility by reducing risks of accidents, the method comprising:
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determining insurance program requirements designed to reduce risks of accidents associated with the healthcare industry; formulating an insurance program for insuring a healthcare facility containing the insurance program requirements; executing an insurance relationship between an insurer and the healthcare facility; a program catalyst monitoring the healthcare facility to identify conformance to the insurance program requirements by the healthcare facility; the program catalyst identifying the conformance of the insured healthcare facility to the insurance pro gram requirements; the program catalyst identifying conformance weak points of the insured healthcare facility; the program catalyst providing risk reports to the insurer describing the conformance to the insurance program requirements by the healthcare facility and the weak points; the program catalyst providing countermeasures to mitigate the conformance weak points of the healthcare facility and further aid the insured healthcare facility to meet the insurance program requirements and reduce the risks of accidents with the healthcare facility; and the insurer modifying the insurance program based on the conformance to the insurance program requirements by the healthcare facility.
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Specification