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Uncategorized Archives - Page 4 of 9 - Diederich Healthcare

The secret of “slot coverage” every growing medical practice ought to know about

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Do you ever feel like your malpractice insurance policy overcharges for part-time medical providers sharing patients and hours with another provider?  Many group practices employ both full-time and part-time physicians.  When this is the case, arranging a slot policy for those physicians may be the most convenient and cost effective route for the practice’s medical professional liability insurance. The way slot coverage works is on a “full-time equivalency” (FTE) basis. This means that the premium…

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Keeping the Physician Practice Independent: Challenges and solutions under the Affordable Care Act

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Remaining independent and complying with the Affordable Care Act (signed into law in March of 2012), is difficult while possible for independent and small group practices.  However, given the difficulties, a large percentage of currently practicing physicians and medical practices have moved to an employee arrangement.  Further, approximately 75% of new graduates intend to be employees of a large system over the next five years.  The current independent practices and small group practices have good…

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Changing Practice Models & The Affordable Care Act

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Undoubtedly, one of the largest issues facing physicians today is the Patient Protection and Affordable Care Act, otherwise known as the ACA. The bill, which was passed on March 23rd, 2010, outlined comprehensive health care reform initiatives that will eventually change the landscape of physician practice as we currently know it. Although opinions on the Act and what it means for health care delivery are highly divided, one thing is for certain – the changes…

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Effective Physician/Patient Communication

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Multiple studies have revealed a disparity of the perceived effectiveness of communication from the standpoint of the physician and from that of the patient. The manner in which a physician communicates health information to a patient is often as important as the information itself. In a recent survey of patients treated by orthopedic surgeons, 75% of the physicians believed they communicated satisfactorily with the patients, while only 21% of patients felt they received adequate communication….

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Maryland Physicians: Now you can reduce your medical malpractice insurance rates and keep “A” rated coverage

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In the years leading up to 2014, malpractice insurance rates have steadily decreased.  While many factors play into the cause of this premium decline, the effect is undeniable – Maryland physicians can now obtain comparable coverage at significantly lower rates. In Baltimore, the most expensive practice location in the state, obstetricians can obtain coverage for $49,400.  At nearly half the cost of another leading admitted carrier with an AM Best “A” rating, this particular example…

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2014 Medical Malpractice Payout Analysis

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The 2015 Medical Malpractice Payout Analysis has been released and is available here. As a service to our clients and all physicians nation-wide, Diederich Healthcare has done an analysis of the medical malpractice payouts in 2013 as recorded by the National Practitioner Data Bank. Taking the data from the NPDB’s records, statistics were selected that will be both interesting and timely to doctors and all other medical professionals. Interestingly, 2013 marked the first time since…

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Data Exposures & Cyber Liability In The Medical Practice

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Data compliance standards (HIPAA, HITECH and Gramm-Leach-Bliley Act) and the implementation of Electronic Health Records (EHR) requirements of the Affordable Care Act (ACA) require medical practices and healthcare organizations to not only utilize electronic data, but also ensure that the data is secure and methods are in place to report and recover any lost or stolen information. Any company that maintains private personal/financial information on customers/patients has the responsibility to protect that information. Any unauthorized…

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The Affordable Care Act (ACA) and its effects on Healthcare Delivery – Part 3

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This article is part of a series: Part 1 Part 2   All of the factors addressed in Parts 1 and 2 of this article… increased patient population, increase in coverage benefits, change in practice/healthcare delivery models, changes in reimbursement models …contribute to intensified and newly created Medical Professional Liability (MPL) issues.  Current MPL litigation trends are showing a reduction in the frequency of claims, but an increase in severity of awards.  Large plaintiff verdicts…

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The Affordable Care Act (ACA) and its effects on Healthcare Delivery – Part 2

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This article is part of a series: Part 1 Part 3   Millions of additional insureds seeking healthcare from the same population of practicing physicians who are receiving ever-reducing reimbursement rates will cause physician practices to change rapidly and dramatically. The formation of Accountable Care Organizations (ACO) appears to be the root of the response to newly created physician reimbursement models. An ACO is a “healthcare organization characterized by a payment and care delivery model…

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