In this issue:
From the CEO’s Desk
Last week, IBM and the Ponemon Institute released the findings from the 2016 Cost of Data Breach survey. The numbers are staggering: The survey found that U.S. companies pay an average of $7 million for a standard data breach (one with fewer than 100,000 records compromised). That average cost per record is $221. This is no small sum for hospitals, especially rural and community hospitals, many of whom are struggling to keep their doors open. I'm pleased that the Texas Hospital Insurance Exchange is able to offer our subscribers cyber liability coverage through our partnership with NAS Insurance. That's just one of the many ways we strive to meet the needs of our subscribers and help protect hospitals as they continue to provide the best care to their communities.
Years ago no one knew there was a need for cyber liability coverage; today it's an absolute must-have. As the insurance industry and the needs of hospitals continue to evolve, THIE will be there with you every step of the way. I look forward to our continued partnership.
Texas Hospital Insurance Exchange
Subscriber Spotlight: Faith Community Hospital, Jacksboro
This spring, Faith Community Hospital in Jacksboro held a groundbreaking ceremony for the new FCH Wellness Center. The 10,000-square-foot facility will provide essential services to the entire community, including a fitness center, group therapy programs, one-on-one wellness consulting, an aqua center, educational seminars and more. It's scheduled to open later this year. Learn more about the FCH Wellness Center on the FCH Charitable Foundation website.
Discount Available for Cyber Risk Services
The Texas Hospital Insurance Exchange has secured a discount on cyber risk services from Nisos Group for subscribers. Nisos CEO James Bourie, who presented on cyber security at THIE's recent Hot Topics Workshop in Lubbock and will present at the Hot Topics Workshop in Corpus Christi in November, is offering special pricing for THIE subscribers to help them uncover vulnerabilities and prevent cyber attacks. Contact Bourie at 703/629-7891 to learn more.
THIE Launches New Website
The next time you visit the Texas Hospital Insurance Exchange website, you may notice something different. Last week, THIE launched a redesigned, more user-friendly site. Featuring a brand-new look and feel, the site uses responsive design to adjust seamlessly to any screen or device, allowing users to access it from their desktops, mobile phones or tablets. THIE subscribers will be required to create an account to access subscriber-only content, including videos from Hot Topics Workshops, risk management resources, and more.
See You at an Upcoming Hot Topics Workshop
Don't forget you have two more chances to attend one of the Texas Hospital Insurance Exchange's popular Hot Topics Workshops this year! Make plans to join your colleagues in Fredericksburg Oct. 12-13 or Corpus Christi Nov. 2-3 to learn about some of the most pressing operational issues among Texas hospitals. The workshops are free for THIE subscribers and will feature a full day of educational sessions on the hottest issues in health care as well as plenty of networking time with peers. For more information, including full agendas, go to the THIE website.
Hospitals Encouraged to Implement Plain-Language Emergency Codes
To reduce risk, increase transparency of communications and align with national safety recommendations, the Texas Hospital Association is encouraging its member hospitals to voluntarily adopt the use of standardized, plain-language emergency codes in lieu of hospital-specific color codes such as "Code Pink" or "Code Black." Led by THA staff, a workgroup of THA-member hospitals reviewed the available research on plain-language codes and made recommendations. The final recommendations include plain-language codes in four categories: facility alerts, medical alerts, security alerts and weather alerts. Codes are purposefully constructed to allow hospitals to personalize the information to their facilities and provide site-specific details. For more information, go to the THA website.