From the monthly archives: July 2011

We are pleased to present below all posts archived in 'July 2011'. If you still can't find what you are looking for, try using the search box.

Does your medical entity have proper insurance?

Our medical malpractice insurance agency,  The Doctors Insurance agency has been representing for 24 years.  THIS YEAR MEDICAL MALPRACTICE insurance claims naming the medical entity, surgery center or Imaging center are on the rise.  Even while claims experience against physicians is generally on the decline,  these claims are increasing.   The theory of entity, vicarious medical liability is becoming an accepted principle in directing and supervising helathcare providers.  Courts are holding medical groups liable for a portion of the claim, reasoning that the Owners, The directors and officers of the phsician group should have known that this doctor might hae ommitted some important detail of service or committed some negligent act.  The physicians affiliated with Anesthesia Groups, Med Spas, Imaging Centers and other ambulatory Surgery Centers should call us to at least discuss the limits in place insuring the facilities and entities with which they work. & ...
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What are we doing ‘selling’ insurance at a time when so many of us can obtain it online.

We are advocating, learning, listening and speaking for you, our clients.  Every day, our agents are working with physicians to properly define and represent their practice to underwriting.  This is to make sure that not only is the premium is appropriately competitive, in synch with this capital abundant market, to also make sure that the entire practice is insured to the extent that is necessary. Physicians are joining large organizations, forming alliances, buying and selling practices, there is not only the business of practicing medicine that incurs risk, but also the business off running a practice,  making decisions, acting appropriately fairly to partners and future partners.  We, at our insurance Agency in California can help you analyze it all, to represent you to the underwriters and ultimately to provide you the most competitive premium available to include all of the risk that rises to practices and administrators.  (yes, administrators can be included under the entity, ...
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Imaging Centers, Surgery Centers, MedSpas and Endoscopy Labs

Imaging Centers, Surgery Centers, Medical Spas and Endoscopy Labs,  all share the same thing in common: there are many ways to insure them.  You should have a separate limit, protecting the entity on its own.  The limits of the physicians should be protected from the liability and vicarious exposure that is presented to them from the multiple use facility.   This is to say that there are many physicians, there are employees and other contracted workers whom come in contact with these facilities.  If all of the physicians are in one medical group, then, the cost effective insurance solution is to simply add a separate limit to their policy, which is done by adding a percentage of premium to each physician.  The more flexible method if the physicians need to open the facility (and this goes for pathology labs as well) is to write a separate limit that is inclusive of the employees and independent contract (non MD personnel) whom work at the facility.  This way you are protec ...
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EMR and Social Media Medical Malpractice Liability Considerations:

Electronic Medical Records are eventually going to become incorporated into every medical practice. With this implementation of a practice’s electronic health record systems come additional risks.  The Doctors’ Insurance Agency represents The Doctors’ Company for  medical  malpractice insurance, and, thus, would like too shared the information available to manage risk and control the high cost of data breach. Each week, as an insured physician with The Doctors’ Company, you will have access to more studies and reviews of claims and information about new technologies. No where is this more prevalent than in the areas of electronic medical records and social media applications.  Practices now have electronic connections to labs, surgery centers, hospitals, imaging and endoscopy centers, these electronic connections open up opportunities to lose or leak the data.  Moreover, if patient harm results from lack of or incorrect information than the doctor and his / he ...
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What does the cost of Thunderstorms in the MidWest have to do with my Medical Malpractice Insurance Premiums:

The Sever Thunderstorms that struck the United States from May 20 – May 27th will result in insured losses to residential, commercial and industrial properties and their contents, and to automobiles of between 4 Billion and 7 Billion,   Sever thunderstorms in Texas and Arkansas and Oklahoma brought high winds, hail and tornadoes; there were more than 150 confirmed tornadoes across the country, affecting more than 20 states.  Thousands of buildings were damaged, hundreds more were completely destroyed and more than a thousand people were injured.   This is important because…..because every insurance company, including medical malpractice insurance companies develops their premiums by factoring a few variables:  The amount of money that they have in reserve and surplus (TDC is very strong, hence it’s newly reissued A rating by A.M. Best, They track the frequency of claims (the number of law suits filed in total against physician insureds); and they track the amount ...
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Embezzlement by employees has become more rampant than ever before. Whether you are a physician or a practice executive, you are at risk;

Judy Capko, a healthcare consultant for over 20 years, explains Best Practices: 12 Steps to Avoid Embezzlement in Your Medical Practice We list the best practices suggestions as we have seen an increase in embezzlement in our insured medical practices. She explains (or confirms) what all physicians and administrators have experienced, the loss is sometimes insurmountable because it takes any margin that physicians might have had to build their practice and invest in their own technology; Plus it is emotionally devastating as it involves a breach of trust. In the situations that we have seen in the Northern California Doctors Insurance Agency, those caught embezzling almost always have the most trust of the physician owners.  The fact is that you simply must have automatic, routine, monthly and quarterly financial disciplines in order to stay ahead of this crime. Eliminate casual handling of cash I have observed a number of practices where finances are handled casually and create temptation for future em ...
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  1. Re: Clinical Research Liability

    Do you recommend purchasing a tail insurance or a occurrence based insurance and add a tail policy afterwards...

    -- Ann Shang

  2. Re: Clinical Research Liability

    I am talking with a CTO in the US ( I am in US too) to be a contractor doing clinical trials on a part...

    -- Ann Shang

  3. Re: The Podiatrists Market Research Report states that demand for podiatrists will likely benefit from healthcare reform.

    My husband has been feeling a lot of pain in his feet recently. We think this could be due to his posture...

    -- Sarah

  4. Re: Developing Walk In and Urgent Care Centers

    It's good to see that urgent care facilities are becoming more and more prevalent. You are right that...

    -- Caden Dahl

  5. Re: Functional Medicine Malpractice Insurance

    Interested in obtaining information for FM MP

    -- Cynthia Shughrue

  6. Re: Visiting Residents/Intern/ Fellow (Hands On) Medical Malpractice Insurance

    I am a final year medical student planning to do a couple of electives in medical school in the US and...

    -- Varun

  7. Re: Medical Malpractice Insurance Benefits, expanding to outpatient facilities

    I like the idea of some of the cost returning to the normal discounted market after a few years of claims...

    -- Dave Anderson

  8. Re: Who Can Perform Liposuction Surgery?

    This is very interesting content! I have thoroughly enjoyed reading your points and have come to the...

    -- Re: Who Can Perform Liposuction Surgery?

    Thanks for helping me understand any licensed physician can actually perform this procedure as per the...

    -- Millie Hue

  9. Re: The Podiatrists Market Research Report states that demand for podiatrists will likely benefit from healthcare reform.

    Thanks for giving me more information about the benefits of podiatrists from the healthcare reform. ...

    -- James