The Doctor’s Advocate | Second Quarter 2013
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Industry and Company News: Second Quarter 2013
Tribute Plan Average Balance Reaches Nearly $12,000
In 2012, the number of members qualifying for a Tribute® Plan award and members receiving an award at their retirement continued to set records. The Tribute Plan is an unrivaled benefit that provides members with a significant financial reward when they retire from the practice of medicine.
At the end of 2012, more than 28,000 members had qualified for an award, with an average balance of $11,855 that will continue to grow until they retire. Through 2012, over 1,800 awards had been distributed to retiring members. Tribute awards do not affect premiums and are provided in addition to dividends, which The Doctors Company will pay to eligible members in 2013 for the seventh consecutive year.
“Our mission is to advance, protect, and reward the practice of good medicine. The Tribute Plan supports this mission by rewarding members for their loyalty and dedication to superior patient care,” said Richard E. Anderson, MD, FACP, chairman and CEO. “The plan underscores the principle that when we all work together to promote the practice of good medicine and improve our profession over time, we all win.”
Hospitalists Offered New Discount
In collaboration with the Society of Hospital Medicine (SHM), we have created an online program to help hospitalists build patient safety skills and to reward them with a premium discount.
The SHM program, the Hospital Quality & Patient Safety Online Academy (HQPS), consists of online modules that provide training not included in traditional medical education. These modules allow healthcare providers to explore and evaluate current quality initiatives and practices as well as reflect on ways to improve core measures within their hospital. Each module focuses on a core principle of quality improvement and patient safety and provides three AMA PRA Category 1 CreditsTM.
SHM members who are insured by The Doctors Company will receive a 5 percent risk management credit for completing the first five online modules of the HQPS. This new 5 percent credit is in addition to the 5 percent program discount and claims-free credit of up to 25 percent offered to SHM members who are insured by The Doctors Company.
“The Society of Hospital Medicine is pleased to play a role in helping to enhance hospital quality and increase patient safety through these new modules in our Web-based Hospital Quality & Patient Safety Online Academy,” said Laurence Wellikson, MD, SFHM, CEO of SHM.
“As the exclusively endorsed medical malpractice carrier for the Society of Hospital Medicine, we are honored to partner with them on this effort,” said Richard E. Anderson, MD, FACP. “Our collaborative partnership with SHM brings our member hospitalists benefits such as these that help reduce risk, avoid claims, and advance the practice of good medicine.”
For more information on HQPS, go to www.hospitalmedicine.org/HQPS.
The Doctors Company Partners with QuantiaMD
We have partnered with QuantiaMD, the largest social learning and collaboration platform for physicians, to give physicians expanded opportunities to collaborate on patient safety and medical malpractice issues presented by industry experts.
Physicians who are members of QuantiaMD can now access The Doctors Company’s page, where they will find the latest articles and videos by industry experts on timely patient safety and malpractice issues. Currently, the page features “Pending Malpractice Claims Consume Physicians’ Careers,” a video by Richard E. Anderson, MD, FACP, and “A Tragic Lesson in Drug Safety,” with David B. Troxel, MD, medical director. Physicians have the ability to share insights with each other about these topics of concern to healthcare professionals.
“As the industry leader in social media, The Doctors Company is proud to offer another opportunity for physicians to connect and collaborate on patient safety and medical malpractice issues,” said Stacy Schultz, vice president of marketing for The Doctors Company. “Through this collaborative platform, we are providing QuantiaMD’s 170,000 members with insights from healthcare industry experts that we anticipate will generate comment and knowledge sharing.”
“We are thrilled to be working with The Doctors Company in such an innovative way, applying social technologies to help physicians learn and collaborate across the country,” said Eric Schultz, executive chairman of QuantiaMD. “We look forward to adding even more industry-leading patient safety tools and content to The Doctors Company brand page over the coming weeks.”
Stay Connected on Social Media
Follow us on Twitter at @doctorscompany, subscribe to our YouTube channel at www.youtube.com/doctorscompany, and find us on LinkedIn, Facebook, and QuantiaMD.