RIMScast: Telemedicine: Risks and Benefits with Jennifer Schoenthal

Telemedicine: Risks and Benefits with Jennifer Schoenthal

Oct 20, 2020

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

Telemedicine and telehealth have forever solidified their place in health services. In this episode, Justin Smulison is joined by a guest who has her finger on the pulse of this area to discuss the risks and benefits of telehealth and telemedicine.

Jennifer Schoenthal is an Underwriter for Miscellaneous Medical and Life Sciences at Beazley. She has vast experience in risk and insurance in telemedicine, has 20 years of experience as an Underwriter, holds P&C licenses in over 15 States, and is a nationally recognized speaker and writer.

Justin and Jennifer virtually sit down together to discuss the risks and benefits of telemedicine and telehealth and how it impacts employers, employees, insureds, and insurers. Jennifer shares how she has seen the telemedicine sector evolve over time, the risks that telehealth and telemedicine providers face, how telehealth and telemedicine are changing the landscape of insurance coverage, and much, much more.

Key Takeaways:

[:01] About RIMS’ Transitional Membership.

[:26] About today’s episode.

[:32] Current RIMS features, offerings, and events.

[1:11] More about today’s episode with special guest, Jennifer Schoenthal.

[1:43] Justin welcomes Jennifer Schoenthal to RIMScast.

[1:50] Jennifer introduces herself and shares about her involvement with and experience in risk management and insurance.

[2:39] Having watched the telemedicine sector grow, Jennifer shares her impressions of it and how it has evolved over time.

[4:27] The risks that telehealth and telemedicine providers face.

[5:40] The difference between telehealth and telemedicine.

[6:08] How are telehealth and/or telemedicine changing the landscape of insurance coverage?

[7:53] Would Jennifer agree that there was an adoption curve with telemedicine due to COVID-19? How did it change and how does she feel that it will continue to change?

[10:52] How COVID-19 has changed the risk profiles for telemedicine providers.

[13:03] Jennifer shares what she believes would happen if regulations eventually got stricter once a vaccine is successful or COVID-19 dissipates.

[16:11] Jennifer speaks about a loophole in The Public Readiness and Emergency Preparedness Act (PREP Act) and how closing it would be beneficial to a lot of insurers. She also addresses whether or not it is a cause that risk advocacy groups could take up and discuss with legislators.

[18:28] Data privacy is a huge concern when it comes to telemedicine. Jennifer highlights some of the areas in which virtual care insurance has successfully resolved some of these risks.

[19:50] In light of Mental Illness Awareness Week (which was Oct. 4th–10th), Jennifer shares how successful telemedicine can be for those who need mental wellness services.

[21:41] Looking to 2021, Jennifer shares how she believes employers can support their workforce during the continuing COVID-19 crisis.

[23:51] Justin thanks Jennifer Schoenthal for joining RIMScast and shares some of the important links to check out in today’s show notes!

Mentioned in this Episode:

RIMS ERM Conference 2020 — Register Today! — Save 10% off registration with the code: RIMSCASTLIVE2020

Risk Management Magazine: “The Benefits and Risks of Telehealth Service” (May 2020)

The Public Readiness and Emergency Preparedness Act (PREP Act)

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