Industry and Company News
The Doctors Company Receives “A-” Rating from Fitch
Fitch Ratings, a leading global rating agency that is recognized as the industry standard for credit benchmarking, has assigned a financial strength rating of “A-” with “Stable Outlook” to The Doctors Company.
“I am pleased that Fitch has recognized our excellent underwriting performance and profitability, as well as the adequacy of our reserve levels and the strength of our capital position,” said Richard E. Anderson, M.D., F.A.C.P., chairman and CEO of The Doctors Company. “This acknowledgment is a testament to our excellent management team and outstanding policyholder service in the tumultuous national medical malpractice environment.”
Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 50 locations and covering entities in more than 80 countries.
The Doctors Company Acquires Northwest Physicians Mutual Insurance Company
We are pleased to announce that we have completed our acquisition of Northwest Physicians Mutual Insurance Company, the top medical liability carrier in Oregon. As a result, The Doctors Company adds 2,300 new insured physicians and further expands its presence in Oregon and the Northwest. The market share of the combined organization has grown to approximately 50 percent in Oregon, making the group the definitive leader in that market. “This merger brings added value to our physician owners and reinforces our commitment to Oregon and the Northwest. It represents a union of two companies that have complementary cultures and a shared commitment to advancing and protecting the medical profession,” said William J. Gallagher, M.D., chairman and president of Northwest Physicians Mutual Insurance Company.
Local Physician Advisory Boards
Last year, we created a network of local Physician Advisory Boards in Northern and Southern California, Ohio, Virginia, and Washington. These select groups of thought leaders exchange ideas and analyze medical liability claims and act as the local voice for our member physicians. By giving us local insight into emerging trends and the special challenges our members face, we are better able to protect you and to respond to your changing needs. This year, we look forward to continuing our meetings and to hearing from new groups to be established in Florida, Oregon, and Texas. We’ll keep you updated in future issues.
Joan Bristow Retires
The Doctors Company announced the retirement of Joan Bristow, vice president of Risk Management, on December 31, 2005, after 13 years of service to the company. We thank Ms. Bristow for her many contributions in making our risk management programs the envy of the industry.
New Department Leadership
Ms. Bristow’s successor, Robin Diamond, recently joined The Doctors Company. Ms. Diamond comes to us from her role as manager of Risk Solutions at ProAssurance, Inc., in Birmingham, Alabama, and takes over as vice president of the Department of Patient Safety, formerly our Risk Management Department. “Robin has more than 28 years of experience in the health care arena,” said David B. Troxel, M.D., medical director. “She is a highly qualified professional who brings a wealth of valuable experience to her new role at The Doctors Company.” Look for Ms. Diamond’s regular column, “An Ounce of Prevention,” in The Doctor’s Advocate.
Celebrating Patient Safety
In March, The Doctors Company celebrates the National Patient Safety Foundation’s National Patient Safety Awareness Week, a campaign aimed at improving patient care at the local level. This year’s theme addresses the need for physicians and patients to work as partners during the course of care by improving processes and the exchange of information. To support this end, we are rolling out our online informed-consent resource area, which provides more than 100 sample documents to help you develop your informed-consent process. True informed consent is the process of exchange of information that protects both the doctor and the patient. Visit our online resource center here.
Reader Survey Results
Thank you for your enthusiastic response to our reader survey. We scored high marks for the relevance and timeliness of our articles, and we learned that the majority of our readers circulate each issue among coworkers and office staff and that our topics often generate discussion. We appreciate the time you invested in participating in our survey. Your opinion helps us to ensure that The Doctor’s Advocate will continue to be a valuable resource for our members.
Connect With Us
We constantly update our Web site and search for ways to improve our online services. Our latest feature, the informed-consent resource area, adds a new facet to our extensive library of reference materials. And now it’s easier than ever to register for our Member Area, which opens the door to on-demand Certificates of Insurance and credentialing reports. We invite you to explore all of our online services today at www.thedoctors.com.
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.