Ob/Gyn's should discuss their practice profile

As the industry moves into another year of flat and reducing rates for medical malpractice insurance, our agency focuses on continuing to advocate for the broadest, malpractice insurance coverage possible.  Industry analysts predict that the cost of defense and the cost of settlement will continue to rise even as the frequency of claims may decrease.  It may seem like the low rates and competitive nature of the medical malpractice insurance industry are here for years to come, mimicking a sort of permanence, but there are indications that it is time to be vigilant. There are some signs in Pennsylvania that this is the case already.  Some insurance carriers are applying to increase premiums even while the number of claims hovers lower than the year 2000.  In 2010, Pennsylvania reported 1,491 claims compared to the years 2000 – 2002 when the state experienced over 2,000 filings.  In some jurisdictions, cases regularly settled for more than $ 5,000,000; while in others defens ...
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According to Victoria Stagg Elliott, American Medical News: Practices develop new payment system for uninsured

Some offices, in an attempt to make office based charges more affordable and more transparent, are developing concierge style billing and services. Patients pay a monthly, quarterly or annual fee and in return receive basic primary care services.   The 'concierge' fees are lower and the services more basic, primary care.

Practices develop different approaches to this method...Some require an office co payment to shift some of the costs. Some practices require a one year commitment to plan on some revenue.

Most practices set a maximum number of visits and some require a sign up, initiation fee.  Practices must be careful not to structure services in a way to assume risk,  this would be too similar to insurance.

Creating a discount membership program for the uninsured is a marvelous way to fulfill your commitment to caring for people who cant afford insurance.  

We will continue to bring you low cost direct coverage with the most comprehensive terms.

No mergers with large international agencies, brokerages or risk management consultants at The Doctors’ Insurance Agency. We are still the same familiar faces, with the same length of time and duty in this particular niche of the insurance industry. Whether you are in Sacramento or Santa Cruz, Santa Monica or San Francisco, our eight TDC trained and licensed insurance agents will continue to bring you low cost direct coverage with the most comprehensive terms. At this time, with the medical professional liability market on the brink of change, with rate projections and losses projected into the future, you should have the most experienced and direct representation that you can find. There are many signs that indicate that the health care arena will change significantly resulting in more losses and higher rates. Universal Health care, Hospital Consolidation and tort reversals are the leading contributors.  Reserves for the medical professional liability industry are still very healthy; although ...
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Wage & Hour Coverage - Does your Employment Practices Liability Have It?

Wage & Hour coverage should be a part of your Employment Practices Liability Policy!  Wage & Hour Claims arise from employees’ or former employees’ allegations of violations of laws (Federal and/or State) of how they were or were not paid.  Such a claim would bring forth an allegation of unpaid overtime, unpaid vacation time, etc.  This is also where it is important that your employees are classified correctly as “Exempt” status or “Non-Exempt” status, which affects how wages are handled.  If an employee is classified incorrectly, the case can become quite technical and defense costs can skyrocket.  These cases can also be very expensive if settled.   Wage & Hour Coverage can be included in the policy form or added by endorsement.  Some carriers will charge additional premium for this coverage.  It is also, as a general underwriting rule, sublimited, to a limit of $100,000 or $250,000 for example, due to the nature of th ...
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Vicarious liability

Vicarious liability is a legal doctrine in which a party is held legally responsible for the negligence of another because of its relationship to the wrongdoer. Courts have generally used the employer-employee or the agency principle to hold medical entities vicariously liable for the negligence of its health care providers This is one of the most important areas of medical malpractice insurance to look into; to make sure you've got all of the entities and clinics and facilities with which you are affiliated insured. The fact is that any entity, not only a person, can be named in a medical malpractice insurance claim, and eventually held liable for damages.  Hospitals can therefore be asked to pay damages for any number of reasons, such as direct negligence, premise liability, etc.  This concept called:  Vicarious liability is indirect legal liability.  In most circumstances, this arises from an employer-employee relationship.  Vicarious liability can also ...
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Compliance Helper

One of our consulting partners, Compliance Helper ™ has created a ‘disruptive innovation’ using a cloud computing model and a personal assistant to help your medical practice get compliant and remain compliant and prove compliance, in this new highly regulated and demanding post hi tec legislative era.  Ask us about working with Compliance Helper’s Security and Privacy expert to deliver a complete privacy and information security program including compliance with HIPAA, HITECH, Red Flags Rule, and many other regulations.  With the government’s renewed focus on confidentiality of ‘e records’ (a tightening of Hipaa’s requirement of protecting patient records from 1996), medical practices are hustling to implement and learn all that they can.  The Doctors’ Insurance Agency has compliance programs that you can self initiate by going online with TDC and/or, we can arrange for one of the experts to work with you on an affordable monthly plan t ...
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Improper payments may be over or under payments received by Medicare

Under payments occur when the medical record i ndicates that something more complicated was perforrmed.  The RAC Audit can reveal both problems.  The RACs have been retained to uncover inappropriate paymentws made on claims of healthcare services provided to medicare beneficiaries.     96% of the inappropriate payments are overpayments resulting in over 1 Billion collected.  Overpayments occur when providders submit claims that do not meet CMS coding.  Just three RACs are retained to find inappropriate payments, the othwr three look for situations where MediCare should not have paid at all because other insurance was in place covering the service.  It is imperative that physicians and practice groups contact their medical malpractice Carrier for resources to help them prior to being named in an audit:  Educate staff about coding:  Develop a RAC Compliance plan, Designate a RAC response team and leader (this is where our Mediguard Plus comes through for o ...
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Malpractice, Professional Liability Newsletter

In Crittenden (Malpractice, Professional Liability Newsletter out of Novato California (our neighbor providing us with information on trends and developments in this market), we learn that Insurers are expecting to provide professional liability for more dentists as the economy recovers. Companies are looking to add benefits to accommodate the 1.5 million workers who have been added to the non farm, non temp job rolls since February of last year.

Because of an increase in demand for dentists, the liability rates will go up in the coming months.

At the moment, however, TDC offers competitive rates for general dentists, Orthodontists and Oral and Maxillofacial Surgeons.

                                              

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