The Doctor’s Advocate | Second Quarter 2024
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Industry and Company News
2024 Member Dividend Announced
The Board of Governors has approved a 2024 premium dividend of approximately $14.7 million, bringing the total of declared dividends to date to $470 million.
Dividends of up to 10 percent were approved for eligible members in the following states: Florida, Idaho, Illinois, Maryland, Massachusetts, Michigan, Montana, North Carolina, Ohio, Texas, Virginia, Washington, and Wyoming. Members of the American Academy of Otolaryngology—Head and Neck Surgery and American Society of Plastic Surgeons® may also receive a dividend, depending on their eligibility.
Eligible members will receive this year’s dividend on their annual premium for policy renewals between July 1, 2024, and June 30, 2025.
Unlike commercial insurance companies, which look for ways to reward shareholders, The Doctors Company is dedicated to rewarding its members.
Chief Operating Officer Appointed
We recently announced the promotion of Deepika Srivastava to Chief Operating Officer. Ms. Srivastava will oversee claims, underwriting, sales, and patient safety and risk management for The Doctors Company, and the shared services of Technology, Cybersecurity, Innovation, and Enterprise Project Office for all TDC Group business units.
“I am pleased to congratulate Deepika on her enhanced role at The Doctors Company. She embodies our mission to advance, protect, and reward the practice of good medicine,” said Richard E. Anderson, MD, FACP, Chairman and CEO of The Doctors Company and TDC Group. “Deepika has extensive experience in medical professional liability and a proven track record of enhancing operational efficiency. She possesses all the attributes we value in a leader, including a mission-driven mindset, innovative thinking, and a commitment to people development, as well as patience and humility.”
Since joining The Doctors Company in 2011 as a Project Manager, Business Applications, Ms. Srivastava has held many roles, including Executive Vice President, Vice President Operations, Chief Information Officer, and Chief Information Security Officer. Ms. Srivastava serves on the advisory board of the California Insurance Guarantee Association (CIGA) and the Actuarial Science Program at Michigan State University. She holds an MBA from the University of Lucknow, India, and has completed the Innovation and Entrepreneurship program at Stanford University, as well as the Advanced Management Program at the University of Pennsylvania's Wharton School of Business.
“I am excited to leverage my experience across the organization to spearhead strategy, drive operational excellence, and ensure effective execution,” Ms. Srivastava says. “As we build a national platform for service and advocacy for all healthcare professionals and organizations, we remain committed to enhancing our mission-driven culture and being a strong proactive partner for those delivering care.”
Why It Is Vital to Choose a Doctor-Owned Medical Malpractice Insurer
Choosing a medical malpractice insurer involves more than just reviewing the cost of premiums—physicians must consider which insurer has their best interests at heart. Consolidation in the industry has led to shareholder-owned companies acquiring doctor-owned companies and vice-versa. Robert E. White, Jr., President of The Doctors Company and TDC Group, explains why a doctor-owned company offers benefits—intangible and tangible—that shareholder-owned companies can’t match. Read the article.
Medical Advantage Subsidiary Sold
A recent press release announced the sale of our Medical Advantage subsidiary to Aledade, the nation’s largest network of physician-led value-based care.
“Initially a practice improvement consulting firm, Medical Advantage has strategically adapted to changes in the healthcare market and is today focused on providing services within the value-based care sector,” said Robert E. White, Jr. “The significant growth potential, along with the need for capital to support such growth, provided us with an opportunity to find a strategic buyer who recognized the value of Medical Advantage’s capabilities.”
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.