News | January 22, 2008

Insurance Company Offers Discounts for Doctors Who Use Electronic Medical Records

January 23, 2008 - Starting Feb. 1, 2008, MHA Insurance Company will grant a premium credit of up to five percent for qualifying policyholders who utilize an electronic medical record (EMR) system.

A qualifying policyholder would include independent, solo physicians and group physician practices.

To receive a first-year premium credit of 5 percent, and subsequent annual 2.5 percent credits, qualifying policyholders of MHA Insurance Company must use an EMR system certified by the Certification Commission for Healthcare Information Technology.

At least 75 percent of physician group members must be using the EMR system and the qualifying EMR system must be operational and in use for a minimum of one year.

EMR systems have been shown to contribute to reduced physician risk through clear, consistent documentation, improved follow-up procedures, enhanced interpretation and communication, increased security and disaster recovery capabilities. As such, EMR systems are also linked to increased patient safety.

Currently, MHA Insurance Company provides medical professional liability insurance to more than 3,000 independent physicians in eight states throughout the Midwest. The coverage is placed by FinCor Solutions, the Lansing, MI affiliate of MHA Insurance Company. FinCor Solutions is a full-service, multi-line insurance agency offering traditional and alternative risk products and services for healthcare providers. Both MHA Insurance Company and FinCor Solutions are subsidiaries of FinCor Holdings, an integrated risk management corporation.

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