Healthcare Providers Insurance Exchange (HPIX), a Philadelphia based medical malpractice insurance firm, has helped to form Healthcare Synergies (HCS), an affiliate insurance group to help HPIX customers protect against the risks they face in the medical industry.

HPIX said that the move is to address the medical issues such as malpractice claims, lawsuits and payouts associated with employment practices, data breaches, and office administration and billing errors.

Through alliances with Beazley Insurance and Lloyds of London, HPIX and HCS will offer MediSyn360, a complete package of insurance products to cover these exposures, exclusively to HPIX clients.

HPIX chief operating officer Nicholas Gaudiosi said in addition to providing quality medical care, physicians must also possess the business acumen to navigate the minefield of rules, regulations and scrutiny that the government has placed on medical providers.

"HPIX and HCS have combined forces to help physicians stay independent and navigate these complex issues by lining up the coverage they need to keep their practices solvent," Gaudiosi said.