According to incoming Curi CEO Jason Sandner, the company’s success is being driven by a three-legged stool strategy. The first being professional liability insurance — Curi’s core business with which it covers much of the east coast and the mid-Atlantic regions and is licensed to serve practices in 47 states and D.C. The second strategy is asset and wealth management in the form of Curi Capital, and the third is data-centered advisory product and services.
The latter is what led to the company’s decision to acquire healthcare analytics firm Arrowlytics and its Aspire platform in April.
“In today’s environment, physicians face a host of challenges that include much more than professional liability,” Sandner said. “These include consolidation of practices, changes in regulations and payer reimbursement models, advancements in medical technology, the financial impact of the pandemic and the use of digital tools and social media by patients as they evaluate and select healthcare providers. These challenges led us to become more focused on growing our advisory services and offerings. It’s all part of a business plan that we launched years ago as part of our intentional evolution and our mission to help physicians in medicine, business and life.”
Even prior to the Arrowlytics acquisition, Sandner said Curi promoted its team’s advisory expertise.
“Now, we also have a tangible product in the Aspire platform that we can put in the hands of practice administrators,” he said. “This business intelligence platform provides and manages the necessary data analytics for improving patient encounters and outcomes, driving greater patient volume and enhancing margins.”
This “top-line-to-bottom-line” approach has two primary components, Sandner said.
First, there’s the reputational and digital marketing element, which practices can use to enhance their presence across social media platforms and the internet in general as they improve their search engine optimization and website rankings.
The second component, “the key performance indicator module,” plugs into the systems electronic health record, payroll, finance and accounting, and other areas that practices use to operate their businesses, Sandner said.
“The platform taps into and pulls data out of the systems, structures and cleans the data and then provides benchmarking information,” he said. “Practices can use this to lay out a series of key performance indicators and metrics to drive greater productivity and better patient experiences.”
Looking ahead, Sandner sees a continuous evolution for Curi’s advisory role — “a role in which we can continue meeting the risk- and wealth-management needs of physicians and their practices,” he said. “In today’s environment, it’s important for companies such as ours to become more diversified. This strategy ensures our strength and sustainability as an insurance organization and provides a win-win for our insureds and our company.”
11,439 Comments