May 2, 2018 by matray

The Cooperative of American Physicians, Inc. (CAP) recently announced that vice president for practice optimization, Carole Lambert, MPA, RN, will speak at the Southern California Association for Healthcare Risk Management (SCAHRM) 38th Annual Educational Conference in Rancho Mirage, Calif., on Thursday, May 3 at 10:05 a.m. PDT.

According to the company, CAP is dedicated to providing doctors and hospitals with the tools to offer patients a seamless experience while mitigating the risk inherent with providing care. It specializes in evaluating office systems and documentation, including both paper and electronic health records, to help healthcare practitioners reduce risk.

Joining Lambert will be co-presenter Randie Minovitz, BSN, RN, director, ambulatory risk management at PIH Health Whittier, a nonprofit regional health network serving Southern California. Their presentation, entitled “These Boots Are Made for Walkin’: Risk Management in Ambulatory Care,” will outline key takeaways for medical risk management professionals as they navigate and continue to develop their strategies for effective practice administration specifically as it relates to ambulatory care. Attendees will take away the following key lessons:

• The evolution to complex patient care in the ambulatory setting;

• Behaviors that multiply risk in ambulatory care delivery;

• Strategies for responding to historic and emerging risk issues in the ambulatory setting.

“While there is a growing emphasis on ambulatory procedures in favor of costly and unnecessary hospital stays, there has not yet been an increased acknowledgement of risk issues in the ambulatory care setting,” Lambert said.

“This presentation considers sources of risk along the continuum of ambulatory care and outlines strategies for effective responses to the sources of risk, providing a vital resource for healthcare professionals and practices,” Minovitz added.

Last year, CAP released a comprehensive guide called the Risk Management Self-Assessment Kit, in order to provide a resource and a practical checklist for healthcare providers to help ensure that they are meeting mandated requirements and recommended guidelines to serve as a benchmark for excellence in their risk management. 

Lambert is a member of the CAP Speakers Bureau, a group of experts and thought leaders in medical risk management, practice management, legal and public affairs.

For more information, please visit www.CAPphysicians.com.

May 2, 2018 by matray

CMIC Group, a mutual medical professional liability insurance provider, was recently notified that A.M. Best has affirmed the Company’s financial strength rating of A- (Excellent), and the Long-Term Issuer Credit Ratings of "A-" of Connecticut Medical Insurance Company (CMIC) (Glastonbury, CT) and CMIC Risk Retention Group (District of Columbia). However, the outlook has been revised from stable to negative. 

The revised outlook reflects the negative trend in underwriting performance and the challenges CMIC faces to improve results in the near term given the ongoing soft market conditions. Underwriting results have suffered in 2016 and 2017 due to increased severity following several years of consistently positive underwriting results and corresponding surplus growth.  As well in 2017, CMIC booked a “one-time reserve adjustment” of $8 million to account for previously unidentified retro-dated coverage predominantly within the risk retention group’s modified claims-made book of business. 

Despite the reserve strengthening, CMIC’s surplus increased by $10.0 million to $309.5 million as of Dec. 31, 2017, due primarily to unrealized gains.  In terms of financial strength and stability, A.M. Best stated that the Company’s Balance Sheet has received the strongest level of risk-adjusted capitalization rating (BCAR).  They also commented that CMIC's investments are conservative and liquid, while underwriting leverage continues to remain low. 

“Despite these recent developments, our company continues to be very strong financially and the Board of Directors, Management Team, and staff are working diligently to improve our financial performance during this difficult market cycle,” said Stephen J. Gallant, CEO of CMIC Group. “Likewise, we are reviewing our product offerings to ensure they continue to meet the evolving needs of the marketplace, and we appreciate the continued loyalty and support of our esteemed member physicians and valued distribution partners as we remain committed to the long-term success of the company.”