The Doctor’s Advocate | Fourth Quarter 2019
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Industry and Company News
New York Acquisition Complete
We have completed the purchase of Hospitals Insurance Company (HIC), a New York State admitted and licensed insurance company, and FOJP Service Corporation, a New York service organization that provides third-party comprehensive insurance and risk management advisory services to HIC-insured hospitals. The purchase price is $650 million, subject to closing adjustments.
“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. “Our mission is beautifully aligned with the great work of HIC and FOJP.”
Proceeds from the transaction will be returned to the not-for-profit hospitals that owned and founded HIC and FOJP more than 30 years ago—The Mount Sinai Hospital and Beth Israel Medical Center (Mount Sinai), Montefiore Health System (Montefiore), and Maimonides Medical Center (Maimonides).
“Mount Sinai, Montefiore, and Maimonides are indispensable anchors of New York’s healthcare system, and this transaction will not only strengthen their ability to provide high-quality care to their communities, but also make capital improvements that will benefit millions of New Yorkers,” said Greater New York Hospital Association President Kenneth E. Raske.
The close of this transaction is also the inception of Healthcare Risk Advisors (HRA), a new business unit within the TDC Group, which will succeed FOJP and focus on third-party comprehensive insurance and risk management advisory services, including management of the self-insured programs of large healthcare organizations in New York and beyond.
HIC will continue to exist as an admitted New York–domiciled insurer providing coverage for hospitals, physicians affiliated with HIC’s insured hospitals, and long-term care facilities and social services agencies. HIC and FOJP employees will become part of HRA and continue to provide the same outstanding services to HIC, the member hospitals, long-term care facilities, and social services agencies as prior to the transaction.
Chief Medical Officer Appointed
We have appointed David L. Feldman, MD, MBA, CPE, FAAPL, FACS, as chief medical officer (CMO) of The Doctors Company Group. In this new role, Dr. Feldman will lead the group’s education efforts in and be the primary spokesperson for trends and issues on patient safety and risk management.
Dr. Feldman succeeds David Troxel, MD, who retired after more than 13 years as medical director.
Dr. Feldman will continue to serve as senior vice president and CMO at Healthcare Risk Advisors (HRA), formerly Hospitals Insurance Company and FOJP Service Corporation. Under his leadership HRA provides resources and a collaborative environment designed to minimize claims and lower premiums for HRA clients by preventing patient harm, enhancing teamwork and communication, and improving documentation.
Prior to HRA, Dr. Feldman was vice president for patient safety, vice president of perioperative services, and vice chairman of the department of surgery at Maimonides Medical Center in Brooklyn, New York. He implemented numerous patient safety initiatives, including the use of the World Health Organization Surgical Safety Checklist. As past president of the Maimonides medical staff, Dr. Feldman was instrumental in the creation and implementation of a hospital-wide Code of Mutual Respect, and physician peer review committee.
“We are pleased to welcome David to The Doctors Company Group,” said Richard E. Anderson, MD, FACP. “His leadership, depth of medical experience, and commitment to optimal clinical performance and patient outcomes make him the ideal candidate to represent our clinical perspective.”
Dr. Feldman serves on the steering committee of the American College of Surgeons (ACS) for retraining and retooling of practicing surgeons. He has served on the ACS committee on perioperative care and as vice chairman of the ACS collaborative task force for the development of high-performance teams in surgery. He also served as the ACS liaison to the Association of periOperative Registered Nurses recommended practices committee.
Dr. Feldman is a master TeamSTEPPSTM trainer and a certified trainer in Crucial Conversations® and Crucial Confrontations®. He received a Bachelor of Arts degree and Doctor of Medicine degree from Duke University, completed training in general surgery at the Roosevelt Hospital (now Mount Sinai West), and plastic surgery at Duke University Medical Center. He earned a Master of Business Administration degree from New York University.
“I am excited to join The Doctors Company Group and to serve as an ambassador to the medical profession on patient safety issues,” said Dr. Feldman. “I am honored to contribute to the future-looking vision for The Doctors Company’s patient safety organization that supports the needs of the business and the mission of advancing 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 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.