Industry and Company News
The Doctors Company Acquires OHIC Insurance Company
On January 10, we completed our acquisition of OHIC Insurance Company, a leading medical liability carrier in Ohio.
“We are pleased to finalize this transaction and welcome OHIC insureds and employees to The Doctors Company Group,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company. “OHIC policyholders will continue to receive the same personal attention they have come to expect, while enjoying the financial stability, exemplary member benefits, and nationwide experience that are provided to members of The Doctors Company family.”
OHIC will continue as an Ohio-based wholly owned subsidiary of The Doctors Company and will remain in its Columbus headquarters. With more than 4,000 total insureds, OHIC and The Doctors Company will constitute the largest physician-owned medical malpractice insurance carrier in Ohio.
New Board Member Appointed
We are pleased to welcome Kathleen Ricord to the company’s Board of Governors.
Ms. Ricord most recently served as executive vice president and chief marketing officer of Nationwide Mutual Insurance Company, an Ohio-based Fortune 100 Company with more than $148 billion in assets and 16 million policies in force. Previously, she held the position of senior vice president, Marketing and Strategy, where she was responsible for market support for all property and casualty operations, as well as 45 Urban Sales and Service Centers.
Rate Reduction in Colorado
We are happy to announce that we have reduced premium rates for policyholders in Colorado by an average of 6.7 percent. Some Colorado insureds will have premium reductions of up to 25 percent, depending on medical specialty and liability limits.
“The Doctors Company has been protecting Colorado physicians since 1986,” said Richard E. Anderson, MD, FACP. “Decreasing claims frequency and a continued positive tort reform environment allow us to provide this significant rate decrease. The Doctors Company’s commitment to Colorado member insureds is far reaching, offering physicians throughout the state superior value, aggressive claims defense, and excellent policyholder benefits.”
The new rates became effective on January 1, 2007, for all renewing policies and new business.
Free CME Opportunities
As the industry leader in providing our members with the most innovative patient safety tools and services, we proudly announce that we will offer a series of free online patient safety courses on a first-come, first-served basis in 2007.
Developed by Advanced Practice Strategies in cooperation with Harvard’s Risk Management Foundation, the educational series is divided into individual courses. Physician members will earn two hours of Category 1 CME credit upon completing each course. The first 1,000 courses are free and will be available online through our Member Area. Subsequent to the free courses, physicians can purchase the entire five-course series for $20 per course; individual courses are $40. Full course credit will be given for free courses completed when determining eligibility for the five-course discount.
For complete details, visit the Member Area on our Web site or call our Patient Safety Department at (800) 421- 2368, extension 1243.
Texas Physician Advisory Board Findings
Our Texas Physician Advisory Board met in Dallas on December 7, 2006. The group noted two consistent themes in the cases presented: poor documentation in the medical record and a lack of effective communication with patients regarding their care.
Participants commented that these cases provided a good reminder for physicians to:
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make sure that patients who have had surgery or who have been seen for a specific problem receive detailed instructions—including what to do (or not do) and what circumstances require a call to the physician or a trip to the emergency room; and
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initiate a clear interaction with patients by questioning them about their other physicians and what medications they have been prescribed.
Patient Safety Alert: FDA Issues Proposed New Rule Regarding Hydroquinone
Due to concerns prompted by new data from laboratory research, the FDA has issued a notice of proposed rulemaking that hydroquinone should be restricted to prescription use only, with users closely monitored under medical supervision. Read our latest alert at www.thedoctors.com/alerts.
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The Doctor’s Advocate is published by The Doctors Company to advise and inform its members about loss prevention and insurance issues.
The guidelines suggested in this newsletter are not rules, do not constitute legal advice, and do not ensure a successful outcome. They attempt to define principles of practice for providing appropriate care. The principles are not inclusive of all proper methods of care nor exclusive of other methods reasonably directed at obtaining the same results.
The ultimate decision regarding the appropriateness of any treatment must be made by each health care provider in light of all circumstances prevailing in the individual situation and in accordance with the laws of the jurisdiction in which the care is rendered.
The Doctor’s Advocate is published quarterly by Corporate Communications, The Doctors Company. Letters and articles, to be edited and published at the editor’s discretion, are welcome. The views expressed are those of the letter writer and do not necessarily reflect the opinion or official policy of The Doctors Company. Please sign your letters, and address them to the editor.