The Doctor’s Advocate | Fourth Quarter 2017
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Industry and Company News
A.M. Best Affirms Our “A” Excellent Ratings and Stable Outlook
A.M. Best has affirmed our financial strength rating of “A” (Excellent), our long-term issuer credit rating (ICR) of “a” (Excellent), and our “stable” outlook. The A rating is assigned only to select companies with excellent ability to meet ongoing insurance policy and contract obligations. The “a” ICR is assigned to entities that have an excellent ability to meet their ongoing senior financial obligations.
A.M. Best stated that our ratings were based on strong balance sheets, long-term operating performances, and The Doctors Company’s leading market position. The ratings agency noted that this leadership in the medical professional liability sector is due to positive earnings, successful acquisitions, and strong patient safety and risk management programs.
The Doctors Company Expands Presence in New York
We now offer coverage on an admitted basis to New York healthcare providers. The Doctors Company is one of the only medical malpractice insurers in New York that is:
- Physician owned.
- National in scope.
- Rated A for financial strength as an admitted carrier by both A.M. Best Company and Fitch Ratings.
We also offer a wide variety of benefits to New York members, including risk management courses required by the state for physicians to maintain Section 18 excess eligibility. We also offer excess and primary coverage through a single carrier; coverage for both physicians and ancillary healthcare providers; and professional and management liability policies for a variety of organizations and healthcare professionals—including medical and long-term care facilities, managed care organizations, and life sciences—through our specialty lines subsidiary, TDC Specialty Underwriters. Additionally, New York medical groups can also be issued coverage through The Doctors Company Risk Retention Group (RRG).
Eligible New York members of The Doctors Company will also participate in the Tribute® Plan, which rewards doctors for their loyalty and commitment to superior patient care, and the company’s dividend program—which has paid out nearly $400 million since 1976.
“We are excited to bring our mission to advance, protect, and reward the practice of good medicine to an even greater number of healthcare providers in New York,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company. “In today’s changing healthcare environment, we are dedicated to helping physicians and practices anticipate issues and to being a strong, proactive partner for those delivering care. We are honored to support the medical profession in this great state.”
The Doctors Company’s newest New York member is Melville-based North American Partners in Anesthesia (NAPA).
“We are proud to partner with The Doctors Company as we advocate for our New York clinicians and their patients," said Dale Anderson, MD, managing partner for the New York practice of NAPA. “Our NAPA colleagues in other parts of the nation have already benefited from The Doctors Company’s dedicated support and education—those of us in New York are thrilled to follow this path with them. The Doctors Company’s tireless commitment to the practice of quality, patient-centric medicine is the right focus for all of us as healthcare continues to evolve toward safer care and healthier communities.”
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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 healthcare provider considering the circumstances of 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.
Fourth Quarter 2017
Electronic Health Record Closed Claims Study
An Ounce of Prevention
Teamwork Saves Lives in Bronx-Lebanon Hospital Shooting
Government Relations Report
Social Inflation Increases Pressure on Medical Liability Limits
Foundation Gets Involved at Patient Safety Camp
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Industry and Company News