The Doctors Company Now Using Milliman Datalytics-Defense’s AI platform for Claims-Defense Management
January 17, 2019
Milliman Inc., a global consulting and actuarial firm, announced that The Doctors Company has implemented Milliman Datalytics-Defense as its advanced analytics legal management platform for processing defense cost invoices. The choice of Datalytics-Defense lets The Doctors Company collaborate with defense counsel to use best practices for defense strategy through artificial intelligence and data-driven decisions. Milliman Datalytics-Defense employs data mining algorithms and machine learning to help insurers and self-insureds detect patterns in attorney billing practices, delivering a better understanding of costs and case strategies.
"At The Doctors Company, we are continually looking for innovative ways to harness the data available to us and use it to improve our operations and increase efficiencies," said Cathy Shutack, senior vice president of claims at The Doctors Company. "With Milliman Datalytics-Defense, we've found a way to apply artificial intelligence based techniques to our vast amounts of data, and use the resulting information to make better data-driven decisions around the claims management process."
Milliman Datalytics-Defense is designed specifically for the insurance industry and has subject matter expertise built into the technology and reporting. The tool's predictive analytic engine is fueled by powerful and proprietary data-mining algorithms that convert text-based data into rich and powerful structured data.
"Leading companies recognize the importance of analyzing the data available to them and unlocking its hidden intelligence as a way to effectively manage and mitigate risk," saidChad C. Karls, principal and consulting actuary with Milliman. "The Doctors Company has a reputation as a forward-thinking organization that understands how a tool like Datalytics-Defense can benefit its members, and I'm looking forward to continuing our work together."
Indiana Department of Insurance Announces Rate Drop for Patient’s Compensation Fund for 2019-2020
January 14, 2019
The Indiana Department of Insurance announced that surcharge rates for the Patient’s Compensation Fund (PCF) will decrease for 2019-2020. The new rates will be effective on July 1, 2019. The surcharge rates for physicians will decrease by 10.9 percent and rates for hospitals will decrease by 12.3 percent, which will result in an approximate $20 million dollar savings overall. This is the first decrease in surcharge rates since 2012. An official Bulletin, Bulletin 247, has been posted on the Department's website.
The PCF is a dedicated fund administered by the Indiana Department of Insurance. It was created in 1975 by the Indiana Legislature as a component of the Indiana Medical Malpractice Act. The fund provides excess compensation for patients who have experienced medical malpractice, in addition to the recovery of compensation from a defendant healthcare provider.
The PCF is funded via a surcharge paid by healthcare providers as part of their professional liability insurance premium. The amount of surcharge paid by a healthcare provider is based upon the risk associated with a healthcare provider’s specialty.
Senior Leadership Changes at Coverys Announced
January 9, 2019
Effective March 31, 2019, Mary Ursul will step back as the executive vice president at Coverys. Lynnette Matza, CEO and president of PPIC, a Coverys company, will succeed Ursul and assumed the role of executive vice president on Jan. 1, 2019, to ensure an orderly transition.
Ursul began her career with Coverys in 2006 holding a number of positions during her tenure, most recently overseeing Coverys’ Med-IQ operations and the coordination of the companies within the Coverys Strategic Healthcare Alliance. She will be leaving her full-time position, but will continue to work with the Coverys Community Healthcare Foundation as well as on special projects.
“Mary has always been willing to step in and take on any challenge that has come her way. She does so with a keen eye on business operations, but also with a focus on the people including mentoring many of our leadership members,” said Gregg Hanson, CEO and president of Coverys. “Mary’s time with Coverys has been instrumental to the success of MHAIC and WCC as well as their subsequent transition to the Coverys family.”
Lynnette Matza will transition from CEO and president of PPIC to serve as executive vice president, oversee Med-IQ operations, and manage the Coverys Strategic Healthcare Alliance relationships.
“It is crucial to have strong leadership to run the day-to-day operations and to ensure all subsidiaries are aligning our entities’ goals and aspirations,” said Hanson. “We are pleased to have Lynnette transition into this new role, as her financial acumen and business operational knowledge of Coverys will be of great value.”
Matza joined PPIC in 1988 as controller. During her tenure with PPIC, Matza served as vice president of finance, CFO and senior vice president, and president and chief executive officer. She is a member of the American Institute of Certified Public Accountants, the Nebraska Society of Certified Public Accountants, and graduated with high distinction from the University of Nebraska Lincoln with a Bachelor of Science in business administration with an emphasis in accounting.
Dentists Benefits Insurance Co., Northwest Dentists Insurance Co. Receive Final Approval To Merge With The Dentists Insurance Co.
January 7, 2019
Dentists Benefits Insurance Co. (DBIC) and Northwest Dentists Insurance Co. (NORDIC), acquired by The Dentists Insurance Co. (TDIC) in February 2017, merged with, and into, their parent company, TDIC, effective Jan. 1, 2019, after final regulatory approval. The merger was approved by the California Department of Insurance (DOI), the Oregon Division of Financial Regulation (DFR) and the Washington State Office of the Insurance Commissioner (OIC).
As a result of the merger, DBIC and NORDIC are now united as one company operating as The Dentists Insurance Co. The name and logo have changed and policyholders can expect a smooth transition with no disruption to the service they have come to trust and rely upon.
"The merger gives policyholders peace of mind, knowing that TDIC has a single vision to only protect dentists," said TDIC Board Chair Daniel Davidson
, DMD. "For nearly 40 years, TDIC has provided exceptional service and high-quality products to our policyholders and we will continue this legacy with the merging of DBIC and NORDIC."
TDIC focuses exclusively on supporting the dental profession by offering a comprehensive suite of professional insurance products to more than 24,000 dentists in 15 states. With this merger, TDIC now extends its exceptional legacy, brand values, financial strength and stability to over 5,000 additional policyholders in five states.
TDIC has been rated A (Excellent) by A.M. Best for 24 consecutive years.
LAMMICO Names New Chairman of the Board
January 4, 2019
In preparation for his transition to president/CEO in March 2019, J. Michael Conerly, MD, will step down from his position as chairman of the LAMMICO Board of Directors. Accordingly, the Board elected Frederick J. White, III, MD, as LAMMICO's chairman of the Board effective Jan. 1, 2019.
White's extensive experience with LAMMICO makes him well prepared for this position. He joined the Risk Management Committee in 1999 and became a member of the LAMMICO Board of Directors in 2001. White has also served as senior vice president of Risk Management & Patient Safety, chair of the Governance Committee and as a member of the Executive, Audit & Legislative Activities Committees.
White received his medical degree from Louisiana State University Health Sciences Center School of Medicine in Shreveport and completed his residency and internship at the University of Arkansas for Medical Sciences. He holds a Bachelor of Science in Business Administration and is currently pursuing a Master of Business Administration at LSU-Shreveport. He is a board-certified cardiologist practicing at Willis-Knighton Cardiology and was co-founder and partner of Cardiovascular Consultants, LLP in Shreveport.