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By working collaboratively, the Saskatchewan health system has negotiated a single insurance contract that covers facilities and organizations for liability, damage to property, and other types of loss. Before the system’s transition from 12 health regions to a single provincial health authority, health regions had separate insurance approaches, policies, and vendors. The move to a single health authority has presented the system with an opportunity to better manage its risk, address gaps in coverage, minimize variation in insurance coverage, and adopt best practices.
For Robbie Peters, Vice-president of Finance and Chief Financial Officer with the Saskatchewan Health Authority, consolidating the health system’s insurance was made possible by the growing level of integration and collaboration between the SHA, 3sHealth, and other health partners.
“By coming together as a single health authority and a broader health system, we have been able to get better risk management tools and risk protection for Saskatchewan taxpayers,” said Peters. “In other words, we are driving better value for the system, and ultimately this benefits patients and families.”
Negotiating a single insurance contract has also produced more than $268,000 in cost savings in the first year.