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A Vital Handbook for Doctors
[By ME-P Staff Reporters and their Consulting Advisors]
For practicing physicians, selecting a knowledgeable insurance advisor and developing a comprehensive personal and corporate risk management plan can be a daunting task. As a consequence of today’s litigious environment in the healthcare industry, physicians must now carefully assess their personal and practice risks as they seek to be indemnified should an event or cause of action occur. This process requires integrated knowledge of the healthcare industrial complex, as well as the rapidly changing insurance industry.
The Reality
Fortunately, Insurance and Risk Management Strategies for Physicians and Advisors confronts the reality that insurance planning in healthcare is decidedly more complex than most other businesses or professions and, in an easy-to-understand manner, explains to physicians and insurance professionals the background, theory, and practicalities of medical risk management and insurance planning.
Certified Medical Planner® Dr. David Edward Marcinko and his team of contributing authors go into great depth on the growing range of insurance planning options in order to assist physicians, and their advisors, to choose the “right” course that balances risk, cost, time, outcome as well as his or her own personal risk tolerance life style.
Insurance and Risk Management Strategies for Physicians and Advisors is ideal for medical professionals and the insurance advisors who seek to serve them, as well as for financial planners, insurance agents and healthcare business advisors wishing to re-educate and help doctors by adding lasting value to their client relationships.
Assessment
Includes tools, templates, case studies, glossary of terms, and examples required to make insurance issues “come alive” in a real world setting
From the Foreword:
“Insurance and Risk Management Strategies for Physicians and Advisors is an essential textbook because it explains to physicians and insurance professionals the background, theory, and practicalities of medical risk management and insurance planning. The insurance haze is lifted by dual-degreed editor, and Certified Medical Planner© Dr. David Edward Marcinko, and his team of contributing authors.
Insurance and Risk Management Strategies for Physicians and Advisors fulfills its promise as a peerless tool for physicians wanting to make good decisions about the risks they face. It is also ideal for financial planners, insurance agents and healthcare business advisors wishing to re-educate and help doctors by adding lasting value to their client relationships. With time at a premium for all, and so much information packed into one well-organized resource, this book should be on the desk of every physician, or financial advisor serving the healthcare space.
Simply stated, if you read this compelling text with a mind focused on the future, the time you spend will be amply rewarded.”
Lloyd M. Krieger, MD, MBA
Rodeo Drive Plastic Surgery
The Rodeo Collection
421 North Rodeo Drive
Beverly Hills, CA 90210
Phone: 310.550.6300
Fax: 310.550.6363
Email: lkrieger@ucla.edu
http://www.RodeoDrivePlasticSurgery.com
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- DICTIONARIES: http://www.springerpub.com/Search/marcinko
- PHYSICIANS: www.MedicalBusinessAdvisors.com
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- BLOG: www.MedicalExecutivePost.com
- FINANCE:Financial Planning for Physicians and Advisors
- INSURANCE:Risk Management and Insurance Strategies for Physicians and Advisors
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Filed under: Book Reviews, CMP Program, Insurance Matters, Professional Liability, Recommended Books, Risk Management | Tagged: david marcinko, hope hetico, insurance, Insurance and Risk Management Strategies for Physicians and Advisors, Risk Management Strategies Doctors |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
CO Podiatrist Sues Over Purchase of Meth-Contaminated Mansion
Wealthy neighborhoods and sprawling homes aren’t immune from society’s ills. Just ask the prominent Colorado Springs couple that purchased a beautiful villa in a prestigious community only to discover methamphetamine contamination. A 5,800-square-foot Italian villa-style home was purchased for more than $1 million on July 29 by Bryan Groth, a Colorado Springs podiatrist, and his wife, attorney Kimberly Gielarowski.
The couple is now locked in a legal battle with the home’s previous owner, Brian Marshall. If Marshall knew the house was contaminated with meth residue, he was legally obligated to disclose that to the buyers under Colorado law. The take-home message is to test a home for meth use before buying it.
Source: Kyle Clark, KUSA NBC 9 Denver [10/29/10]
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Modern Malpractice Risks
Even when you shut off the lights to your practice and go home at night, you could be at risk for committing malpractice if your answering service handles after-hours calls inappropriately, according to one attorney.
http://www.fiercepracticemanagement.com/story/shoddy-answering-services-can-increase-docs-malpractice-risk/2010-11-23?utm_medium=nl&utm_source=internal
This is something we have preached here at the ME-P for some time, as well as our risk management – and newest book: http://www.BusinessofMedicalPractice.com
Ann Miller RN, MHA
[Executive-Director]
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“Disclose and Apologize Model” May Have Backfired at Hospital
As for the “disclose and apologize” model, the Philadelphia Inquirer profiled an example of how its recent progress, or lack there of with patient Destinee Blake, delivered by cesarean section after doctors determined the umbilical cord was wrapped around her neck, and was born at 29 weeks, 1 pound, 9 ounces.
Six days later, on March 1, 2010, Destinee died in the neonatal intensive-care unit at Abington Memorial Hospital. Her path was perilous, but her death was preventable.
http://articles.philly.com/2011-11-06/news/30366671_1_catheter-vein-heart-wall
So I say, apologize? Forget about it! Good for the soul, not so much for liability protection.
Dr. Anonymous Clemens
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Book Review
As a physician financial advisor, I highly recommend the “Insurance and Risk Management Strategies” Book for any physician or physician advisor.
The book is a great reference as well as a good read. The chapters are broken down into relevant topics and are even interesting to read! This is quite a feat when considering the topic of risk and insurance.
The risks covered in the book range from malpractice, capitation, divorce, personal financial planning risks to practice management issues. Any physician would benefit from just the review of these risks that we often would prefer to ignore or pretend they don’t exist.
David K. Luke MIM
Certified Medical Planner™ candidate
http://www.CertifiedMedicalPlanner.org
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Risk Management
I think one of the concerns is how do you train staff and support them in their ability to identify and manage risk. Using a quantitative approach is great to get some understanding of the potential impact.
Sam Wilson
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Risk Takers vs. Risk Averse as Insured Adults
About one-third of uninsured nonelderly adults described themselves as risk-takers, and they are more than twice as likely to believe they do not need health insurance (33.2 %) or that it is not worth the cost (51%) compared to uninsured people who are risk-averse.
Consistent with the young-invincible view, uninsured young adults aged 18 to 29 are more likely to be risk-takers compared to older uninsured adults aged 40 to 64-35.3 percent vs. 27.9 percent, respectively.
Among self-described risk-takers, 38.5 percent of young adults say they do not need insurance compared to 26.6 percent of older adults.
And, among the 42.5 percent of young adults who described themselves as “risk-averse,” a minority (17.5%) does not believe health insurance is important.
Source: Center for Studying Health System Change
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Opinion
“Where was this [book] when I needed it?” was my first response.
Kernan T. Manion MD
http://www.worklifedesign.us/index.html
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