| The Doctor’s Advocate | First Quarter 2008 |
Industry and Company News
Fitch Ratings Upgrades Our Financial Strength Rating
Leading global ratings agency Fitch Ratings has upgraded our Insurer Financial Rating to “A” with a “Stable Outlook.”
Fitch’s rating upgrade is predicated on its belief that The Doctors Company’s acquisition of SCPIE Holdings, Inc., will enhance its operating profile and not materially alter its above-average capital position. Fitch also believes that The Doctors Company is in a good position to leverage potential synergies with SCPIE.
“We are pleased that Fitch Ratings upgraded The Doctors Company’s financial strength rating in the context of the pending SCPIE merger. The acquisition will significantly advance our leadership in California as well as nationally and further enhance our ability to relentlessly protect, defend, and reward our physician members,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.
The Tribute Plan Continues to Expand the Value of Membership
We continue to reward members for their dedication to patient care and their loyalty to The Doctors Company. Through the end of the third quarter of 2007, we have distributed Tribute® Plan career awards to 162 qualifying members.
2008 Dividend Declared
The Board of Governors has declared that eligible members will receive a dividend distribution in 2008 beginning with July renewals. The dividend credit will provide a premium reduction to members in California, Colorado, Florida, Georgia, North Carolina, Ohio, Virginia, Washington, and Wyoming. Members of the national specialty organizations that endorse or sponsor The Doctors Company will also receive a dividend in addition to their extensive program benefits. Eligible members will continue to receive 2007 dividends with their renewals.
SCPIE Acquisition Continues
We recently announced that we have a definitive agreement to acquire SCPIE Holdings, Inc., the third largest malpractice insurer in California. We will keep you informed as we pursue this transaction to completion. To read about the key highlights and milestones of the acquisition, please visit our Press Room at www.thedoctors.com/news.
Harvard Risk Management CME Series—Free Courses Still Available
We have partnered with Harvard’s Risk Management Foundation and Advanced Practice Strategies (APS) to create the “eLearning Patient Safety Series”—a convenient way to learn more about patient safety while earning CME credits. The first two courses in the five-course series are free subject to 1,000 free courses total available to all members on a first-come, first-served basis.
Our members pay a discounted rate of just $20 per course for the remaining three courses when purchasing the entire series. Physician members will earn two hours of Category 1 CME credit for each course they complete. Login as a member to our Web site, or call our Patient Safety Department at (800) 421-2368, extension 1243, for more information.
Our Recent Virginia Physician Advisory Board Meeting
The Virginia Physician Advisory Board met in Richmond on November 8, 2007. Attending were 17 members. Sal Bianco, director of Government Relations, discussed the Virginia judicial environment and provided updates on our legislative and lobbying efforts.
The group reviewed several cases and commented on the standard of care, causation, and damages. There was considerable debate on one case involving a patient who died unexpectedly after being admitted with a history of headaches, nausea, and dizziness. The discussion included medications and dosages, the possibility that the patient self-medicated, and the mechanism of death. Recommendations by board members included taking the deposition of the medical examiner and obtaining pharmacologic review. The case will be presented again as an update.
There was also engaging group discussion on the Virginia “I’m Sorry” statute with examples of when and how to disclose the error and apologize.
Our next meeting is scheduled for May 8, 2008. If you would like to participate, please contact Bruce Kleeman at bkleeman@thedoctors.com.
Health Care Notification Network—Registration Instructions
In the last issue of The Doctor’s Advocate, my column outlined the benefits of the Health Care Notification Network (HCNN), a free online service developed by the iHealth Alliance that delivers urgent FDA patient safety alerts to health care providers. The registration instructions for this service are now available.
— David B. Troxel, MD
Medical Director
To register for the HCNN:
- Go to the Health Care Notification Network Home Page at www.hcnn.net.
- Click Sign Up.
- A window with this message will appear:
By clicking the “Send” button on this e-mail, you will be preregistered for the HCNN. In the coming weeks, you will receive an e-mail from the HCNN with more information and authentication instructions. Be sure to add www.hcnn.net to your list of known senders in your e-mail client to prevent HCNN messages from getting routed to your spam folders. Thank you for your commitment to patient safety. If you have any questions about the HCNN, please call (866) 925-5155 or e-mail info@hcnn.net. - Click Send.
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 health care provider in light of all circumstances prevailing in 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.