Jenn Negley, Vice President, National Healthcare Practice at Risk Strategies
By Becca Taurisano
For the past 30 years, Jenn Negley has worked in medical malpractice insurance, currently serving as Vice President of the National Healthcare Practice at Risk Strategies, a top, national independent specialty insurance brokerage firm. Along the way, she learned every facet of the business from managing accounts to production and brings that detailed expertise to her clients in New York state.
With 6,000 clients representing over $120,000,000 in physician premiums nationwide, Risk Strategies represents every major medical malpractice insurance carrier in the market and offers programs designed for independent physicians, self insured programs, large practices and hospitals. In addition to medical malpractice, Risk Strategies provides managed care stop loss and reinsurance protection, property and casualty coverage and customized programs for employee benefit plans. “We are specialists with in-depth knowledge of healthcare and the carriers that serve the industry,” said Jenn. “That experience is beneficial for delivering the right protection for our clients so they can prepare for the unexpected.”
Experts like Jenn ensure that providers have the necessary coverage in an everevolving field. If a provider were to go directly to an insurance carrier, they may not know all the questions to ask to make sure they are completely covered. Insurance brokers work to protect their clients but are paid directly by the insurance carriers. The coverage required varies by specialty, size of practice, and can even vary by provider within a practice. Jenn monitors issues that providers or practice managers may not consider, until a malpractice claim brings it to their attention. “That’s when it’s too late,” she said. “We are foremost advocates who know the specifics of your practice, make sure your coverage is appropriate, free up your staff for more important tasks, and provide cost effective coverage with the discounts you deserve from your carrier.”
Jenn is keenly aware of market trends that impact her clients. When office visits were down during the pandemic, she actively engaged practices to make the appropriate adjustments to their policies, so they were not overpaying for coverage when their income was impacted. Jenn also understands how to keep her clients in compliance with the terms of their malpractice policy. Restrictions on telemedicine appointments that were rolled back during the pandemic, are now being put in place again. If a provider doesn’t inform the carrier that they are still doing telemedicine, they might unintentionally void their coverage.
In New York state, working with medical malpractice insurance brokers is fairly new. “The state had been a closed market with a limited number of options for so long, that few practices were being provided the unbiased and independent market evaluations we offer,” added Jenn. As practices evolve, the coverage that worked a decade or more ago may no longer be sufficient. Risk Strategies works with every medical malpractice carrier in New York such as MLIMC, EmPro(PRI), The Doctors Company (TDC), HIC, and risk retention groups like MedPro RRG, Coverys RRG, ProAssurance RRG, TDC RRG, and AMS RRG. Jenn works with the carriers to determine what is the right solution for each client. While the New York insurance market is changing to be more physician-friendly, it is still difficult for providers to navigate alone. “As specialists, we are well versed in the benefits of the carriers we represent,” said Jenn. “One point of emphasis is always the financial strength of the carrier and the specific protection for the practice based on their needs.”
The Risk Strategies Healthcare Practice is currently rolling out a unique discount program for practice managers and administrators who are members of the New York Medical Group Management Association. The best-in-class protocols practice managers employ before a patient even sees a doctor are a front line in reducing claims. The program was approved at the end of 2022 and provides a 10% discount for physicians who qualify, potentially generating significant savings. “We are proud to bring this discount to NYMGMA members and look forward to assisting practices in signing up,” said Jenn. “Understanding our industry is what allows us to find creative ways to deliver premium relief.”.
For more information on insurance program for your practice, contact Jenn Negley at 267- 251-2233 or jnegley@risk-strategies.com.
