Industry and Company News
Fitch Ratings Affirms Our Financial Strength
Leading global ratings agency Fitch Ratings has affirmed our Insurance Financial Strength rating of A- (Strong) with “Stable Outlook.”
“I am pleased that Fitch has affirmed our A- (Strong) with ‘Stable Outlook’ rating, and recognized The Doctors Company’s excellent operating performance and ability to strategically leverage core competencies,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company. “This rating confirms that The Doctors Company is on target with its objective to preserve and grow company surplus to effectively combine financial stability with the relentless protection and defense of our members as well as the financial rewards we provide for the practice of good medicine.”
OHIC Insurance Company Awarded Financial Strength Rating of A-
We are pleased to announce that the A.M. Best Company has assigned an A- (Excellent) rating with a “Stable Outlook” to OHIC Insurance Company—which we acquired at the beginning of this year.
A.M. Best stated that the OHIC rating reflects the acquisition, management oversight, and support provided by The Doctors Company. The rating also acknowledges The Doctors Company’s continued profitability, strong overall capitalization, prudent underwriting discipline, and exceptional cash flows.
“This A- rating is further proof that OHIC members can continue to count on us to be a financially stable company and trusted partner for many years to come,” said Thomas Luffy, regional operating officer at OHIC.
Update on the Florida Physician Advisory Board
The Florida Physician Advisory Board met in Orlando on May 10, 2007. In addition to the case presentations, one of our physician advisors agreed to be “deposed” by one of our Florida defense panel on the case that he presented.
The group members quickly realized the difficulties that can be encountered during a deposition when attempting to explain the care and treatment of a patient to an attorney. They recognized, too, that a deposition is even more challenging if documentation is incomplete or if the patient did not receive a positive outcome.
Participants expressed appreciation at being given an understanding of how important it is to be prepared, to have a thorough knowledge of the medical chart, and to follow the advice of legal counsel before giving witness statements or depositions.
The Doctors Company Partners with Medical Economics to Explore EHR Trends
A new survey conducted by Medical Economics, a national magazine that covers physician practice management issues, and The Doctors Company shows that physicians believe that electronic health records (EHRs) can help protect them from malpractice lawsuits.
Doctors believe that EHRs are most likely to provide protection through more comprehensive records; automatic alerts about drug interactions, allergies, and other medical information; instantaneous and remote access to records; better communication between staff and clinicians; and clearer communication between referring and specialty physicians.
“This study points to a fast-emerging trend in health care with real potential to improve patient care and safety as well as the practice environment for the physician,” said David Troxel, MD, medical director of The Doctors Company. “As a physician insurer, we encourage the adoption of both the EHR and personal health record (PHR).”
For more information on the survey results, visit our Newsroom at www.thedoctors.com/news.
Our New Annual Report Is Now Available
We’re proud to announce that our 2006 Annual Report is now available. The report introduces our bold new look and reinforces our relentless commitment to defending, protecting, and rewarding the practice of good medicine.
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.