Reduced indemnity costs for Concentric users

Dafydd Loughran
by Dafydd Loughran, CEO
August 2021
Reduced indemnity costs for Concentric users

In a first of kind agreement reflecting the impact of introducing digital consent on medico-legal risk, clinicians can reduce their indemnity costs by using Concentric, through a collaboration with Themis Clinical Defence.

We’re excited to announce this first collaboration with a medical indemnity firm and believe it is currently a unique agreement between the digital health and medico-legal worlds.

The agreement sees Concentric being provided as part of clinicians’ Themis clinical defence policy, with their indemnity fees being reduced substantially when they switch to digital consent.

This is in recognition of the expected reduction in the individual’s clinical negligence risk following their move to using Concentric as their default consent process.

Under the agreement a Concentric account will be offered as part of the Themis policy to all new and renewing Themis policyholders, for use in their private practice. If the clinician takes up the offer and transitions to Concentric digital consent they will be rewarded with a reduction in their yearly premium, in most cases at around a 10% reduction.

Themis provide thousands of UK clinicians with non-discretionary indemnity with a focus on risk management through data analytics and innovation.

Consent issues represent a significant proportion of NHS Resolution workload and costs, with 903 open ‘failure to warn’ cases as of November 2020. The use of digital was recently highlighted in NHS Resolutions’s 202122 business plan as a priority in responding to the ‘changing health landscape’, with use of digital in the consent process identified as one of four priority areas

I believe this ‘first of kind’ agreement is an exciting step for the digital health ecosystem, with the recognition that digital can be a key element of ‘what good looks like’ and the opportunity to drive adoption with financial incentives direct to clinicians.

As part of the collaboration, Themis will evaluate the real-world impact of their policyholders transitioning to digital consent in terms of claims management and costs, with the outcome of such analysis being used to feed into subsequent indemnity fee calculations.

To take advantage of this offer please contact Themis who will then arrange a Concentric account to be set up.

Read more about the announcement on digitalhealth.net here.