🏥 Risk assessments including MPLs

WA Health awarded Taylor Fry a contract for risk assessments and a framework to support insurance settings for outsourced elective surgeries.

The Department of Health maintains a panel arrangement for elective services that enables individual Health Service Providers (“HSPs”) to procure services from private and day hospitals on a fee-for-service basis. The objective of the panel is to reduce waiting times for elective surgeries by allowing HSPs to outsource a portion of their waitlisted procedures. Panel members are required to maintain adequate insurance coverage across multiple classes, including Public Liability, Product Liability, Medical Malpractice, Cyber, and Workers’ Compensation. To support proportionate and risk-based insurance settings, the Department requires up to five risk assessments to be completed and lodged with ICWA. As part of these assessments, the calculation of Probable and Possible Maximum Losses (PMLs) are critical to informing appropriate and defensible levels of insurance coverage. In addition to the individual risk assessments, the Department is seeking the development of a self-sustaining framework to support contract managers and owners in confidently undertaking future risk assessments.

The Department of Health (Royal Street) awarded a fixed-price contract valued at $97,419 to Taylor Fry Consulting Actuaries (Taylor Fry Pty Ltd) via the CUA CUAAFA2024 - Audit and Financial Advisory Services Common Use Arrangement (CUA) procurement method. There was only one submission.