The Doctor’s Advocate | Third Quarter 2014
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Industry and Company News: Third Quarter 2014
The Doctors Company Named a 2014 Ward’s 50 Top-Performing Company
We have again been named a Ward’s 50® top-performing company.
This marks the sixth consecutive year that we have achieved Ward’s 50 status, and this is the 13th award overall. Ward Group, an insurance industry management consulting firm and provider of benchmarking and best practices services, chose the top performers after analyzing the performance of over 3,000 property-casualty insurance companies based in the U.S. over a five-year period (2009–2013).
“We are pleased that Ward Group has again recognized The Doctors Company as one of the top insurance companies in the United States,” said Richard E. Anderson, MD, FACP, chairman and CEO. “This award is a testament to our financial strength, which gives us the power to protect and defend our 75,000 members now and in the future, and to our mission-driven commitment to our members.”
Fitch Ratings Affirms Our “A” Rating
Fitch Ratings has affirmed our “A” (Strong) Insurer Financial Strength rating. Fitch also announced that the rating outlook for all ratings is “Stable.”
The ratings are based on The Doctors Company’s above-average underwriting performance and profitability compared to its medical professional liability insurance peers, favorable loss reserve levels, strong statutory capital position, and an experienced management team that employs a conservative operating strategy that is focused on long-term underwriting profitability.
National Collaborative for Accountability after Medical Injury
We have joined a national effort to develop communication and resolution programs that hospitals can use to respond to unanticipated medical outcomes more effectively. The U.S. Department of Health and Human Services’ Agency for Healthcare Research and Quality (AHRQ) is supporting this effort by the Collaborative for Accountability after Medical Injury.
Medical Director David B. Troxel, MD, is serving on the collaborative’s executive committee, and Chief Patient Safety Officer Robin Diamond, MSN, JD, RN, is assisting in developing a toolkit for hospitals to improve quality of care, lessen risks, and ensure timely and appropriate restitution when necessary.
“The Doctors Company has a long history of patient safety advocacy, so we are extremely pleased to be part of this project,” Ms. Diamond said. “The toolkit will build on several successful disclosure and resolution efforts, such as the Seven Pillars approach to harm that was funded by AHRQ. The Doctors Company Foundation has supported disclosure projects through grants to organizations that research these principles.”
New Orthopedic Advisory Board
Top orthopedists from around the country recently joined us for the inaugural meeting of our Orthopedic Advisory Board. Ralph Gambardella, MD, chairman, president, Kerlan-Jobe Orthopaedic Clinic in Los Angeles, California, and Douglas Lundy, MD, FACS, co-president, Resurgens Orthopaedics in Atlanta, Georgia, were guest speakers at the event, which was attended by advisory board members from throughout the nation.
In his presentation, “Regenerative Medicine in Orthopaedics: New Challenges,” Dr. Gambardella, a renowned sports medicine specialist, focused on the issue of using stem cells to repair or rebuild bones. Dr. Lundy, a specialist in orthopedic trauma surgery, discussed the challenge of measuring physician quality in “Raising the Bar: Use of a Physician Scorecard in Specialty Practice.”
To watch Dr. Lundy’s video, “Boost Best Practices with a Physician Scorecard,” access our YouTube channel at www.youtube.com/doctorscompany.
Visit www.thedoctors.com/specialtyboards to learn more about our specialty advisory boards.
Earn Free CME Credits with Our Webinars
We are proud to offer a comprehensive selection of opportunities for earning continuing medical education (CME) credit. Visit www.thedoctors.com/cme for complete details on all of our webinars, seminars, and on-demand activities.
Upcoming Webinars (Earn 1.0 CME Credit)