The Need for Effective Physician-Patient Communications

Part 3 of a 3 part series.

Trend #3: Patients want and need to be heard.

Healthcare and insurance providers alike have for more than a decade been writing about the influence of physician-patient communication on whether a patient brings a malpractice claim. Generally, poor communication can lead to a claim, while good communication can reduce the risk of one. The difference today is the trend toward more formal programs for consumers to make themselves heard by those who provide services and thereby have an impact on quality. Patients today are consumers who expect the ability to express themselves, be listened to, and receive a satisfying response.

Best Practice: Establish effective programs for patient communications.

By making sure patients have a way to share their views on their healthcare experiences, physicians can go a long way toward cultivating the good- will that reduces the risk of malpractice claims. A program of patient surveys, associated metrics, and regular reports, assures patients that their voices are heard, enables physicians to demonstrate their commitment to patient satisfaction, and allows physicians to resolve issues that may arise before they turn into costly malpractice claims.

Looking ahead: When change meets resistance.

Physicians and carriers who ignore today’s health- care and malpractice insurance trends do so at their own peril. The best practices recommended in this brief all represent a significant departure from “business as usual” – but a radical shift may be just what’s needed.

At Capson Physicians Insurance, we believe the only choice is to innovate by seeking out new approaches and solutions that can help reduce cost pressures, deal with claims quickly, and whenever possible, prevent claims in the first place. As part of our standard operating procedure, we’ve combined the best practices, described in this paper, with an innovative approach to coverage so that we’re equipped to help physicians reduce the risk and cost of malpractice claims. Learn more at www.capson.com.

How to Alleviate The Intangible Costs of Medical Malpractice Claims

Part 2 of a 3 part series.

Trend #2: Claims can exact more than just financial costs.

While the financial cost of a malpractice claim can be substantial, both in legal fees paid by physicians and claims paid out by carriers, the view is now expanding to include the price paid in time and stress. One study estimates that physicians, on average, spend nearly 11% of their careers dealing with an unresolved malpractice claim. Not only that, 80-90% of claims are decided in favor of the physician, with no payments awarded to the patient – suggesting they may have had little merit to begin with. Yet, in most cases, resolution takes years of time and effort, in addition to incurring significant legal expenses.

Best practice: If claims are inevitable, address them immediately.

While there are steps physicians can take to reduce the risk of being sued by a patient (see Trend #3), there will always be some non-meritorious claims that find their way into the medical malpractice system. The key is to deal with them before they consume years of a physician’s time and tens of thousands of dollars in defense costs. One way to do this may be for carriers to employ experienced, in-house malpractice attorneys to work with insured physicians to swiftly address claims, rather than assigning them to the traditional claims adjuster.

At Capson Physicians Insurance, we believe the only choice is to innovate by seeking out new approaches and solutions that can help reduce cost pressures, deal with claims quickly, and whenever possible, prevent claims in the first place. As part of our standard operating procedure, we’ve combined the best practices, described in this paper, with an innovative approach to coverage so that we’re equipped to help physicians reduce the risk and cost of malpractice claims. Learn more at www.capson.com.

Lower Costs, Faster Action, Fewer Claims

Part 1 of a 3 part series.

According to recent studies of medical malpractice claims in the US, the mean time to resolve a claim is nearly two years – and even longer in some specific practice areas. One study calculates that for surgery claims it can be four to five years. This drawn-out process can take a tremendous toll on patients, physicians, and insurers in the form of personal, professional, and financial stress. The need to endure long resolution periods for malpractice claims raises several important questions: What can be done to control the costs associated with growing numbers of claims and lengthy time to resolution? How can claims be addressed more efficiently and quickly? Even better, what can physicians do to prevent claims in the first place? This series examines three relevant trends in medical malpractice today and recommends three corresponding best practices to help achieve the goals of lower costs, faster action, and fewer claims.

Trend #1: The high risk of malpractice claims is about to get higher.

Researchers with the National Institutes of Health report that physicians have up to a 19.1% chance of facing a malpractice claim, depending on specialty. These odds are likely to grow as a result of changes in the healthcare landscape. For example, consultants at PricewaterhouseCoopers point to the likelihood that healthcare utilization will rise as baby boomers age into the Medicare system and millions more people become eligible for Medicaid and other coverage under healthcare reform. This will add to the already high pressure and cost of managing a practice, potentially increasing the risk of claims and the cost of malpractice insurance.

Best Practice: Use technology to help reduce cost pressures.

There’s little physicians and insurance carriers can do to stop the tide of healthcare utilization that appears to be on the way. But much can be done to proactively reduce cost pressures, particularly with regard to malpractice insurance. Carriers must respond to change by finding ways to adapt pricing structures and practices to today’s realities of higher utilization, risk, and costs. Technology is one way to tackle this challenge. By leveraging online technology to deal directly with physicians seeking coverage, carriers can reduce their cost of operations and, at the same time, make acquiring insurance easier and less costly for physicians.

At Capson Physicians Insurance, we believe the only choice is to innovate by seeking out new approaches and solutions that can help reduce cost pressures, deal with claims quickly, and whenever possible, prevent claims in the first place. As part of our standard operating procedure, we’ve combined the best practices, described in this paper, with an innovative approach to coverage so that we’re equipped to help physicians reduce the risk and cost of malpractice claims. Learn more at www.capson.com.

Capson brings an innovative, all-inclusive approach to medical malpractice insurance to The Magnolia State

Capson Physicians Insurance Company, a national medical malpractice insurer, announced today it is licensed to underwrite in the state of Mississippi. Capson’s innovative, all-inclusive approach to medical malpractice insurance is now available to healthcare providers in a total of 26 states.

“We are excited to bring our unique approach to medical malpractice insurance to the Mississippi market. We are committed to delivering significant benefits and savings to healthcare providers in the state,” said Maury Magids, President and Founder of Capson.

Capson was founded by a group of seasoned medical malpractice insurance executives and attorneys. Through their collective experience, they observed that most medical malpractice carriers were unable to implement changes to address the current landscape of challenges and risks. Capson takes a fresh approach to provide healthcare providers with low-cost solutions and services that will protect and improve their practices.

Capson provides the following as part of coverage:

QuickClick Coverage™ 

QuickClick Coverage is all about driving down physician’s premium through the use of our comprehensive, physician-friendly technology that lets physicians customize, acquire, and manage their insurance in a matter of minutes. Our technology and streamlined processes have dramatically reduced our operating costs – saving physicians thousands in time and premium, while actually enhancing their protection. For the first time, we’ve put physicians in control of how they buy, when then buy, and most importantly, what they buy.

StatResponse to Claims™ 

Our proactive StatResponse to Claims program utilizes our in-house medical malpractice attorneys from the start, immediately responding to all claims, including those that should never have been filed in the first place. This common sense approach ensures physicians are not distracted from their practice and reduces defense costs hidden in their premium today.

PatientImpact Program
The PatientImpact Program gives our insureds access to an informative PatientImpact resource website, along with an easy-to-use online Centers for Medicare and Medicaid Services (CMS) compliant patient satisfaction survey and reporting tool. It’s just another common sense way we help our insureds elevate their protection and reputation.

About Capson Physicians Insurance Company 

Capson Physicians Insurance Company is a national medical malpractice insurance company based in Austin, TX. Capson provides an innovative, three-tiered approach to medical malpractice insurance providing physicians lower premium, a higher degree of protection, and the ability to really listen to their patients. For more information, visit www.capson.com.

Contact: 

Aram Bazarian
Director of Marketing
512.609.7906
abazarian@capson.com

Capson Physicians Insurance Company, a national medical malpractice insurer, announced today the addition of three new executives strengthening its management team and supporting strategic efforts to offer the medical industry a unique and efficient approach to medical malpractice insurance.

“It is exciting to add talent to the organization. These individuals understand the importance and significance of the Capson Approach to medical malpractice insurance, and will allow us to further prosper,” said Maury Magids, President and Founder of Capson.

Bill Montei is joining Capson as Senior Vice President responsible for Operations. Bill brings more than 30 years of experience in the industry, 22 years spent as the Chief Executive Officer of PIC Wisconsin. Bill led PIC from its inception into a multi-line operation focused on physicians, dentists, and hospitals in the Midwest. His familiarity with all aspects of insurance operations, as well as his work nationally on issues ranging from insurance taxation, governance, and professional liability, Bill also brings his valuable and unique perspective to Capson’s innovative approach to the physician malpractice insurance marketplace.

Bryan Bowdish joins Capson as Director of Business Development. He brings a strong background in medical professional liability insurance sales and marketing. Prior to joining Capson, Bryan oversaw the advancement of Medicus Insurance Company from start-up to national carrier with over $70 million in direct written premium.

Marie Kulesza was appointed Director of Patient Satisfaction. Marie is responsible for leading Capson’s strategic initiatives on patient satisfaction and market development. She was previously director of quality assurance and support services for National Financial Partners Corp., and brings 12 years of project management, process implementation, and customer service experience within the financial services and insurance industry.

About Capson Physicians Insurance Company
Capson Physicians Insurance Company is a national medical malpractice insurance company based in Austin, TX. Capson provides an innovative, three-tiered approach to medical malpractice insurance providing physicians lower premium, a higher degree of protection, and the ability to really listen to their patients. For more information, visit www.capson.com.

Physicians spend a hefty amount of time and money when a claim is filed against them, whether or not a claim has merit. The following infographic outlines the “cost” of medical malpractice claims.

This has been a monumental era of change for healthcare. With the changing expectations in healthcare and passage of the Affordable Care Act, physicians are scrambling to understand what changes to expect in the near and more distant future.

Efficiency

The Affordable Care Act calls for unprecedented efficiency amongst solo physicians and small group practices. Many physicians are switching to electronic record keeping, patient care forums, and other e-solutions for business. They need to examine various operational aspects to better manage their practice. By becoming more efficient now, they can be prepared for the future, while taking advantage of some of the different incentives the government is intending to offer for providing more efficient care to patients.

With skyrocketing operating costs and pending pay-for-performance CMS (Centers of Medicare and Medicaid Services) survey regulations of 2015, physicians need every tool at their disposal to manage their practice, differentiate their practice, and mitigate risk and they need to balance all of this while providing extraordinary patient care.

With everything that is being added to physicians’ plates, we address some of the most important, current challenges and risks associated with your practice. At Capson Physicians Insurance, we take pride in offering an innovative, all-inclusive approach to medical malpractice insurance for physicians and practices in this modern era of medicine. Capson leverages technology and operational efficiencies to lower premiums and enhance coverage allowing physicians to focus on patients and keep their practice running strong through these times of change.

Largest Patient Satisfaction Survey Provider Now Available to
Individual Physicians and Small Group Practices Working with Capson

Jan. 30, 2013 (South Bend, Ind.) – Press Ganey Associates, Inc. announced today it reached a multi-year agreement to provide access to patient satisfaction survey services for the physician clients of Capson Physicians Insurance, a national medical malpractice insurance carrier. This agreement enables Capson’s base of smaller physician practices to leverage the methodology, benchmarking and improvement tools of Press Ganey, a leader in improving the patient experience.

“Press Ganey gives health care organizations the ability to capture the voice of the patient in order to enhance the clinical quality and safety of care. This new relationship with Capson gives more patients the opportunity to share their views on the care they receive and will also help improve physicians’ understanding of the patient experience,” said Patrick T. Ryan, CEO of Press Ganey. “We are proud to provide smaller physician practices around the country with access to the industry’s leading tools. It’s clear that Capson believes in the value of strong physician-patient communications, and sees Press Ganey as a logical partner to support their physicians.”

“Capson has always been focused on helping our clients prevent non-meritorious claims from being filed in the first place,” said Maury Magids, Founder of Capson. “Our relationship with Press Ganey supports this commitment and also demonstrates how both companies have come together to embrace improvement.”

For more information about the Press Ganey and Capson partnership, click here.

Press Ganey Associates, Inc.
Recognized as a leader in performance improvement for nearly 30 years, Press Ganey partners with more than 10,000 health care organizations worldwide to create and sustain high performing organizations, and, ultimately, improve the overall health care experience. The company offers a comprehensive portfolio of solutions to help clients operate efficiently, improve quality, increase market share and optimize reimbursement. Press Ganey works with clients from across the continuum of care – hospitals, medical practices, home care agencies and other providers – including 50 percent of all U.S. hospitals. For more information, visit www.pressganey.com.

Capson Physicians Insurance
Capson is a medical malpractice insurance company, based in Austin, TX. The Capson Approach to medical malpractice insurance is simple: pay lower premiums, resolve claims faster, and give patients a voice. Capson was founded on the belief that doctors are not being treated fairly by the medical malpractice industry, and that it was time to challenge the entire approach to medical malpractice insurance. We did just that, creating a three-tiered approach to deliver lower premium with a higher degree of physician protection and the ability to really listen to your patients. For more information, visit www.capson.com.

Media Contact:             
Alicia Bandy
617-933-5274
abandy@solomonmccown.com

By Maury Magids, Founder & CEO, Capson Physicians Insurance

Today’s physicians are under more pressure than ever. Unfortunately, the medical malpractice insurance industry has done little to help its clients. Insurance carriers should be playing a larger role in helping physician clients minimize risk, increase efficiency, and foster patient-centric care.

Roughly every two decades, significant shifts occur in health-care, with real impact on physicians. Throughout the 1970s, a deluge of lawsuits forced entire insurance companies to dissolve or leave medical malpractice insurance altogether. By 2015, US national healthcare will change things once more adding 16 million new patients to the system along with a new standard by which care is measured.

But how will these changes in healthcare ultimately affect physicians and the insurance carriers that provide coverage and protection for their practices? Medical malpractice insurance providers have to acknowledge the need for innovative insurance solutions and the technology infrastructure to support swift and efficient means of acquiring coverage.

As of today, medical malpractice insurers have made little progress streamlining operations, automating costly manual processes, and improving the inconsistency of evaluating risk. Most important, the industry has ignored the obvious, partnering with physicians to help enhance their patient’s experience, which helps reduce and prevent non-meritorious claims from being filed, and keep insurance premiums at manageable levels.

The impact of patient-centric care

Patients have never felt more stressed and less heard than they do today. On average, they get to speak for less than 15 seconds before a doctor interrupts them. One in three patients feel that their doctors don’t spend enough time with them, one in four believe that no single doctor is keeping track of their treatment and over half are unsatisfied with the overall level of care they receive (from Harvard School of Public Health study 5/12).

The situation is so bad now that nearly half of all US physicians state that they would retire early or leave the profession altogether if regulation and economics worsen (New England Journal of Medicine). Private practices are disappearing, as doctors retreat in droves to the safety, security, and relative simplicity of being employees in giant hospital systems—putting a nail in the coffin of the patient-centric practice and replacing them with an endless stream of anonymous technicians.

Physicians are not to blame. They are stuck in a white collar equivalent of the old “factory speedup,” finding themselves pressed to cram more patients into longer hours for lower reimbursements and higher-business costs.

But physicians need to understand why a patient is not happy and what steps to take to ensure that information and communication, not escalation and litigation, become the bedrock of all physicians-patient relationships.

Risk mitigation: a new view

Today, ineffciencies in traditional insurance claims management has the effect of rising defense costs to an average of USD 37,000 per claim. Nine of ten malpractice claims should not have been filed in the first place, and are ultimately resolved with no payment to the patient. But medical malpractice insurance claims are still costly, time consuming, and stressful (non-meritorious claims actually cost more per year than legitimate ones and take months to be resolved).

Medical malpractice insurance carriers need to provide in-house legal counsel (not claims adjusters) to pick up the phone and have a true peer-to-peer conversation with the plaintiff’s attorneys. By engaging a seasoned in-house medical malpractice attorney on the front end, insurance carriers can provide a new approach to help ensure claims are handled quickly, smartly, and effectively.

With so much at stake with today’s claims, an in-house medical malpractice attorney’s involvement from the beginning can ensure the process is fast, smooth, and in the best interest of all parties—often resulting in earlier resolution. By implementing this practice, insurance carriers get good doctors back to practicing medicine faster—where their communities need them most.

Reducing medical malpractice insurance costs

While physician-patient relationships and risk mitigation are contributing factors when discussing keeping premium costs low—we also understand that the medical malpractice industry today is where travel agents were 15 years ago: overpriced, inefficient, and desperately trying to hold on to an outdated price structure and way of doing business by keeping their clients in the dark.

Insurance carriers need to strip all of that away, and offer doctors the simplest choices, online instant quotes, automated processes and operations, clear and comprehensive policies, and none of the hidden fees, exclusions and delays typical in the industry. Insurance carriers who embrace this approach are dragging the medical malpractice industry into the digital future—harnessing physician-friendly technology that allow doctors to find their own solutions to protect their practice and reputation, get quotes in seconds, not weeks, and enjoy pricing that reflects an enhanced business model.

When it comes to protecting your practice, keeping up with what is happening in the realm of medical malpractice and related topics is critical. If you haven’t researched how the Healthcare Reform Act will affect your practice or what level of medical malpractice insurance is right for you, here are some useful resources for your review.

• Physicians Practice explains how the Healthcare Reform Act will affect your medical practice in this article.
• The Insurance Information Institute offers helpful information on medical malpractice insurance and how to choose the best applicable policy.

Whether you are in the market for medical malpractice insurance, or just have questions regarding types of coverage, Capson Physicians Insurance is here to help. Simply call (888) 927-1970 to speak with an Advisor to better understand how to protect your practice.