Orthopedic surgeons across the country who are engaged in conventional clinical surgical practice pay some of the highest malpractice premiums in the country. We are often asked what we, as national brokers and agents for some of the best malpractice insurance companies in the country, can do to reduce premiums.
There are creative insurance company programs that are not always easy to find, but they are available. The Doctors Insurance Agency specializes in Medical Malpractice Insurance for Orthopedic Surgeons.
We work with surgeons and practice administrators. The profile of the practice specifically means that you represent to the underwriters which doctors are focusing on which type of surgeries. We plan risk management activities that are designed to bring patient safety specialists to the group for presentations, some of which qualify for continuing medical education units.
There are programs like Orthoselect, Ortho Preferred, and the Florida risk retention group program that will allow orthopedic surgery practices to reduce their medical malpractice insurance premium. The Doctors Company started working in Northern California to create risk management patient safety discounts for doctors at specific participating hospitals and healthcare organizations.
The Doctors Company is the nation’s largest physician-owned malpractice insurance carrier. They sponsor many of these discount programs. For example, if you are an orthopedic surgeon in Florida, you might qualify for a 25% premium discount.
The doctor must be a paid member of the Florida Orthopedic Society https://www.floridaorthopediccommunity.com/ for which an active membership has an annual fee of $250.
If the doctor is eligible for the program they can receive a 25% program credit, full claim free credit, 10% schedule credit for being an active paid FOS member and up to 10% risk management credit for which those requirements are listed below.
1. 5% Credit:
• Completion of FORPG Self-Assessment located at https://fos.site-ym.com/?TDCPhaseI
The Self-Assessment is designed to help the physician uncover areas in their practice that could create liability risks. One Self-Assessment per Policy/Account is appropriate. The Self-Assessment should be reviewed and signed by one of the physicians in the practice.
2. 5% Credit:
• Once the FORPG Self-Assessment (Phase I) has been completed, the physician will be able to move to Phase II of the FORPG Program. Phase II of the Program gives the physician the opportunity to choose from two options. The instructions and the link for the Phase II is below. Please note the physician only needs to select and complete one of the two items below –
1. Completion of the FORPG webinar: “Managing Orthopedic Risks” which may be assessed at:
https://fos.site-ym.com/?TDCPhaseII. ; Please note that if this option is selected, each physician/member who wishes to receive a premium credit and/or CME credits must complete the webinar.
…. OR ….
2. Purchase of and participation in SurveyVitals, a patient satisfaction monitoring software.
Please note that two of the three program options must be completed to earn up to the 10% credit, as approved by the Underwriter.
Lastly, there is a fee of $500 charged to the physician as part of the program that TDC collects and remits to the program administration.
The Florida Orthopedic risk purchasing group discount is similar in many ways to Medical Center risk management program discounts and specialty-specific or specialty society-sponsored risk consciousness self-assessment and patient safety anchored programs. These programs are consistent with The Doctors Company’s mission to defend the practice of good medicine. The Doctors Insurance Agency is proudly represented by The Doctors Company for 30 years. We have been involved in designing and implementing the following hospital affiliation discount programs and group specific risk management programs. Whether you are a physician in Portland, Oregon or Portland, Maine, practicing in the tri-state area or the Tri-County area, the Doctors Insurance Agency provides expert knowledge and is available to help you reduce your medical malpractice premiums for your orthopedic surgery practice.