TMCnet News
TruthMD, MedFax™ Signs Multi-year Agreement With MedMal Direct Insurance CompanyLOS ANGELES, April 27, 2017 /PRNewswire/ -- TruthMD has entered into a strategic, multi-year agreement to utilize its service MedFax™ with Physicians Trust, Inc. and its subsidiaries MedMal Direct Insurance Company (MedMal Direct) and CorePRO Insurance, LLC. MedMal Direct will leverage MedFax™ Physician Data and Monitoring Services to aggressively accelerate the healthy growth of their medical professional liability insurance business across a twelve-state region. TruthMD Executive Vice President, William Moss said, "MedFax™ offers our MPL insurer clients both a shield and a sword. It provides added protection against unwittingly underwriting or improperly pricing non-standard risks, while simultaneously enhancing the acquisition of desirable new business. MedFax™ provides the first real opportunity for MPLI companies to optimize loss ratios through both decreased losses and increased written premium, in a single fact-based solution." MedMal Direct Chief Executive Officer, Butler Ball, explained, "The TruthMD partnership is central to our strategic plan. Combining the unprecedented real-time insights of MedFax™ with our direct-to-consumer approach will bring a powerful disruptive force to the medical professional liability industry. The data will improve our risk selection, increase the speed with which we issue quotes and enable us to proactively target those risks which we deem best fit our underwriting philosophy." MedFax™ is a highly accurate, up-to-the-minute medical data platform that collects, aggregates and distributes primary source information, including demographic, education/training, practice, licensing, certification, investigation, disciplinary and legal records for every MD and DO in the United States. The data is transformed into actionable provider intelligence by standardizing, indexing and cross-referencing each piece of information on a daily basis, enabling users to realize powerful insights in real time. The technology enables medical professional liability insurers to quickly optimize new business acquisition, customer retention, operational processing and risk/claims management, by accelerating physician community risk awareness. TruthMD Founder and Chief Executive Officer, Gemma Cunningham said, "Our new relationship with MedMal Direct is well aligned with our corporate mission to lower costs and improve outcomes in healthcare through greater transparency and accountability within the U.S. healthcare industry." "MedFax™ enables proactive identification and rapid assessment of risk within very specific target market segments in a very short amount of time," said Moss. "Our data solutions are providing our customers with a critical strategic market advantage. No one else provides this level of unbiased and comprehensive real time analytics to customers," he added. About TruthMD: About MedMal Direct:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/truthmd-medfax-signs-multi-year-agreement-with-medmal-direct-insurance-company-300446917.html SOURCE TruthMD |