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malpractice-educational-series

Medical Malpractice Insurance Educational Series for Physicians

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Diederich Healthcare’s Medical Malpractice Insurance Professionals have released an educational series directed at physicians nation-wide. This series of informational articles focuses on topics that are relevant to the medical malpractice insurance landscape today. The series has a broad scope, with the following articles being made available: Change in 2014 – Oklahoma physicians can reduce practice costs with minimal effort Does price reflect quality of malpractice insurance? Transitioning From Occurrence to Claims-Made Using a Broker/Agent and…

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Newly Admitted Carrier for New Jersey Physicians

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The New Jersey Department of Insurance has recently approved a newly admitted medical malpractice insurance carrier to provide coverage to New Jersey physicians effective immediately.    Coverage for this admitted carrier is now offered through Diederich Healthcare and is designed to provide quality affordable coverage to physicians practicing in New Jersey.  Although having provided malpractice insurance coverage since 2005, this recent expansion into New Jersey is consistent with their commitment to provide stable, long-term protection for…

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Navigating Digital Technologies: A Social Media Guide for Physicians and Practices

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The scope and reach of physicians are expanding rapidly due to an increase in user-created content and online media in the digital age. Social media sites, such as Twitter and Facebook, internet-based applications, blogs, texting and emailing, media-sharing sites, and networking sites have all led to an increase in the communication between physicians and their patients, physicians and the public, and among physician colleagues. In fact, over 60% of physicians use some type of social…

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Cost

Know the Factors that Affect Professional Liability Premiums

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As professional liability agents, one question we often are asked is, “how can I reduce my premium?”  Although this question might appear simple, premiums are directly correlated to multiple factors, including practice profiles, policy types and features, physician background, and even market conditions.  Diederich Healthcare employs a highly skilled staff that is able to navigate the market, armed with the practice profile, in order to provide physicians and their staff with tailored, cost-effective solutions regarding…

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patient

Comparative Models of Healthcare Delivery in the Midst of an Expected Physician Shortage

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The Affordable Care Act of 2011 has changed the conventional model of healthcare delivery and payments in an effort to meet the “triple aim” of the IHI goals: Improve the general health of the defined population, enhance the patient care experience, and reduce the per-capita cost of care. Although the ACA will greatly increase patient care, physician access is still expected to be an issue due to increases in the newly insured and aging populations….

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save-money

How can I lower my premium?

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Very often I am asked by physicians, office managers, hospital administrators, and group representatives, “How can I lower my premium?” It also regularly surprises me how many of these people are not taking full advantage of the available discounts. Most already know about the claims free discounts and group discounts.  Some even know about the board certification discount and the additional double board certification discount.  The most often overlooked discount is the Risk Management Discount….

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Using a Broker/Agent and Choosing a Carrier for Medical Malpractice Insurance

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Choosing the best fit for your Medical Malpractice Insurance coverage is one of the most important decisions that a Physician will make for his/her medical practice.  There are many options available and they can vary greatly in policy coverage, form, and premium from Carrier to Carrier and State to State.  Items that should be addressed and examined on an annual basis include: Differences in insurance company structure and the regulations under which carriers operate “Admitted”…

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Transitioning From Occurrence to Claims-Made

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Claims-made policies are the most common type of policy issued today. These policies allow insurance companies to issue more accurate rates, usually at a lower cost to the physician, based on the amount of exposure the insurer is covering. At one point, occurrence policies were the norm. However, as malpractice claims dramatically increased, insurance companies had a difficult time trying to predict how much to collect in premium to cover future payouts. That poses two…

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malpractice-insurance-price-quality

Does price reflect quality of malpractice insurance?

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Medical malpractice insurance is a major expense for physicians in private practice.  Naturally, it makes sense to manage this expense to increase profit for your practice.  Though if you are a physician or practice manager who has doubted the quality of an insurance company based on the lower premiums they provide, you are not alone.  The last thing you should do is choose an insurance policy based solely on a low premium, only to find…

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oklahoma

Change in 2014 – Oklahoma physicians can reduce practice costs with minimal effort

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Uncertainty surrounding the Affordable Care Act and continuing changes in the delivery of healthcare are of significant concern for physicians.  Doctors across the country are examining the healthcare environment and taking steps to prepare for the impact that this anticipated change will have on their practices.  As a result, many are looking for ways to reduce overhead costs while maintaining the core value of their practice – patient care.   Medical malpractice insurance represents a significant…

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