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SIMED of Puerto Rico joins CRICO Strategies National Comparative Benchmarking System (CBS)

  • January 23, 2017

CRICO Strategies Expands CBS Data Reach.


Boston, MA, January 23, 2017 – CRICO Strategies is pleased to announce a newly-signed agreement with SIMED of Puerto Rico to become the newest member of its national Comparative Benchmarking System (CBS).

SIMED, located in San Juan, Puerto Rico, is a leading medical professional liability insurer serving hospitals and clinicians in Puerto Rico. Founded in 1986, SIMED has 30 years of experience in claims management and supporting its clients facing malpractice allegations. Today, SIMED is invested in implementing a comprehensive risk management program to extend its services to its insured in order to mitigate risk, improve health care delivery, and to differentiate it from other competitors in the marketplace.

SIMED’s partnership with Strategies is meant to strengthen its risk management and patient safety programs and its ability to learn from medical malpractice data. Through its Innovation and Client Services Unit, SIMED’s physicians will benefit from risk management and patient safety tools, educational materials, technical case studies, and benchmarking data. Of this new relationship, Agustin L. Montalvo, President of SIMED says, “We are proud to be affiliated with CRICO Strategies. This alliance is a milestone in our plans to strengthen client services in the areas of risk management and patient safety. Our vision is that our clients see us as a partner in patient care.”

CRICO Strategies clients contribute their malpractice claims to its national Comparative Benchmarking System (CBS) which currently holds nearly 400,000 medical malpractice cases from more than 20 captive and commercial medical malpractice insurers representing more than 550 health care entities nationwide. CBS provides a unique insight into what goes wrong, and why, offering intelligence to specific risk vulnerabilities. Armed with this data, health care providers and leaders have a clear line of sight on how to change specific clinical systems or clinician behaviors and mitigate those dominant risks and reduce their malpractice exposure.

Says Michael Oliver, AVP of CRICO Strategies, “We are thrilled to welcome SIMED to our CBS community and look forward to this new partnership.  It is our hope that, together, we will share best practices and learn from each other to help build a safer care environment for our clinicians and their patients.” Deployment of joint initiatives will start in the first quarter of 2017. 

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CRICO Strategies is a division of the Risk Management Foundation of the Harvard Medical Institutions, Inc., a CRICO company. Through participation in our national Comparative Benchmarking System (CBS), business, clinical, and patient safety leaders can leverage their malpractice data to identify clinical risks, benchmark against peers, and engage clinical leadership. This data provides the foundation to facilitate change to make care safer for patients and clinicians.

SIMED, founded in 1986 and based in San Juan, Puerto Rico, is the largest provider of medical professional liability insurance for physicians in Puerto Rico.  Since its inception, SIMED has also provided patient safety education, legal counsel, legal defense, and other support to physicians, surgeons, dentists, and hospitals. To learn more, visit www.simedpr.com.