The Doctor’s Advocate | Second Quarter 2015
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Industry and Company News:
Second Quarter 2015
2015 Member Dividend Announced
The Board of Governors has declared a premium dividend of approximately $28 million to recognize and reward members for their loyalty and dedication to the practice of good medicine. Since the dividend program’s start in 1976, The Doctors Company has paid out more than $338 million in dividends.
“We are proud to issue a strong dividend for the 10th year in a row,” said Richard E. Anderson, MD, FACP, chairman and CEO. “This dividend, made possible by the excellent claims experience of our members, is just one of the ways we recognize and reward our members for their continuing dedication and commitment to superior patient care. The Tribute® Plan is another, with more than $30 million paid to retiring members to date.”
The 2015 dividend will provide a premium reduction to members in Colorado, Florida, Georgia, Idaho, Maryland, Montana, North Carolina, Ohio, Oregon, Virginia, Washington, and Wyoming. The dividend will vary from 5 to 20 percent depending on the loss experience of the individual state.
Members of the following select medical specialty societies may also receive a dividend: American College of Surgeons, American Academy of Otolaryngology—Head and Neck Surgery, and American Society of Plastic Surgeons®.
Eligible members will receive this year’s dividend as a premium reduction on policy renewals on or after July 1, 2015.
Comprehensive Risk Solutions for Outpatient Medical Facilities
We recently announced a dedicated program of risk solutions for outpatient medical facilities through our wholly owned subsidiary, TDC Specialty.
Stand-alone medical facilities, such as hospice, urgent care centers, dialysis centers, and surgery centers, are a developing segment in the evolving healthcare environment. Ambulatory care now accounts for approximately one-third of healthcare spending in the U.S., more than is spent on inpatient care, according to the Department of Health & Human Service’ Agency for Healthcare Research and Quality. As the Affordable Care Act shifts the healthcare model from volume-based to value-based care, many services will continue to transition from inpatient to outpatient.
We have over 35 years of risk innovation and risk management experience for the nation’s leading hospitals and healthcare systems. This long-term expertise allows the company to provide dynamic risk solutions, including:
- Customizable, scalable coverages.
- Exclusive patient safety resources and complimentary CME.
- Claims and patient safety experts available 24/7 in more than a dozen regional offices nationwide.
- Coordinated claims defense.
To learn more about The Doctors Company’s comprehensive program for facilities, hospitals, and healthcare systems, visit www.thedoctors.com/IDS.
Get Expert Insights: Social Media and New Liability Risks from the ACA
The Doctors Company YouTube channel offers a library of short, expert videos that help doctors adapt to the challenges of the changing healthcare environment. The latest videos explore new liability risks brought about by healthcare reform and how to protect your reputation on social media:
- As the Affordable Care Act (ACA) is implemented, you may be facing a new minefield of liability risks. Rob Francis, chief operating officer of The Doctors Company, gives expert insight into what these changes mean for your risk in the playlist “Will Liability Risks Skyrocket Under ACA?” at www.thedoctors.com/aca.
- We’ve partnered with Kevin Pho, MD, social media’s leading physician voice, to provide expert resources that help doctors harness the power of social media. You’ll find tools at www.thedoctors.com/socialmedia to help you engage with patients, grow your reputation, and make your voice heard on the leading social media channels—plus earn free CME credits.
Join Us Online
We’re your source for timely healthcare and liability news—including emerging medical trends and CME opportunities. Stay informed by following us on our industry-leading social media channels.