Insuring Physicians: Are commercial insurers competitors or partners? Charles Kolodkin Cleveland...
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Transcript of Insuring Physicians: Are commercial insurers competitors or partners? Charles Kolodkin Cleveland...
Insuring Physicians:
Are commercial insurers competitors or partners?
Charles KolodkinCleveland Clinic
Jack MeyerThe Doctors Company
Larry SmithMedStar HealthDec. 3, 2014
Employed Physicians:Captive v. Carrier
Traditional Liabilities Cost Claims Control Risk Management
Regulatory Considerations Risk Tolerance Underwriting expertise Claims Management Educational offerings Portability
Employed Physicians:Captive v. Carrier
Tail Liabilities Cost Claims Control Expectation of clinician
Wall off liabilities Risk Tolerance Claims Management Operational Management / Control
Employed Physicians:Captive v. Carrier
Prior Acts Liabilities Cost Recruiting Tool Claims Control
Third Party Business Linkage with Hospital Risk Certainty Claims Management
Insuring Independent Physicians:Captive v. Carrier
Captive
Assures Availability Assures Affordability Linkage with Hospital Claims Control Lower Costs
Insuring Independent Physicians:Captive v. Carrier
Carrier
Regulatory Underwriting Expertise Claims Management Risk Management expertise Time / Resource efficiencies Broader Coverages Linkage with Hospital
Insuring Independent Physicians:Captive v. Carrier
Hybrid Captive as Reinsurer
Underwriting Expertise Claims Management Risk Management expertise Promote issues Time / Resource efficiencies Broader Coverages Linkage with Hospital
Insuring Independent Physicians:Captive v. Carrier
Hybrid Carrier as Reinsurer
Underwriting Expertise Claims Management Risk Management expertise Promote issues Time / Resource efficiencies Broader Coverages Linkage with Hospital
WHAT DO PHYSICIANS WANT?
• Affordability• Claims Management• Flexibility• Supplemental Coverages• Physician Governance• Dividends