OncologyENT And Allergy Initiates A 'First Of Its Kind' Self-Insured Medical Malpractice Program
ENT and Allergy Associates, LLP (ENTA), is pleased to announce the formation of OASIS (i.e., Otolaryngology, Allergy Specialty Insurance Services), a separate company that will be a vehicle to provide Otolaryngology and Allergy Specific medical malpractice coverage. OASIS, which will be domiciled in the State of Vermont, is the first RRG to provide medical malpractice coverage exclusively to ENT physicians and Allergists. ENTA decided to embark on this path as a means of stabilizing its malpractice premiums in the face of mounting deficits among the State"s largest carriers and the failure of the legislature to pass any meaningful tort reform. These factors will most likely result in substantial premium increases well into the future. In addition, ENTA, now a 96 physician practice, will be able to focus on controlling the risks unique to its specialty to ensure patient safety and physician compliance with its risk management policies.
ENTA"s current risk profile, as evidenced by both historical claims made and those resulting in monetary settlement is less than half the national average. This reflects the practice"s proactive approach to compliance, clinical pathways and treatment protocols.
Dr. Wayne Eisman, President of ENT and Allergy Associates, commented, "We are truly pleased to be able to be pioneers for this type of risk management mechanism. In the absence of tort reform, we believe that controlling the costs associated with malpractice is one way we can help lower the cost of the healthcare delivery model."
Dr. Steven Sacks, newly elected President of OASIS, said, "A key benefit to the use of a risk retention group (RRG) will be our ability to manage risk within our single-specialty. Unlike community-rated states like NY where risk is pooled across multiple specialties and rates determined accordingly, our program will be geared specifically to our risks, which should result in lower claims, stable premiums and lower patient care costs."
Robert Glazer, CEO of ENT and Allergy Associates, added, "This project has been a 15-month undertaking. Over this time, we have worked with the top consulting, legal, accounting and actuarial firms in the captive insurance industry and are confident our conservative approach will provide returns for our physicians and ultimately our patients. ENTA is well positioned to self-insure. Our Medical Compliance Committee has been active for five years insuring better coding, documentation and appropriate medical care, the group"s investment in a customized EMR will lower risks via enhancements that will highlight diagnosis and treatment issues and our affiliation with Mount Sinai Medical Centers Department of Otolaryngology for referral of tertiary cases all add to our lower risk profile. While participation will initially be limited to the physicians of ENT and Allergy Associates, there has been interest in our program from physicians outside our practice. Whether we will seek an outside market for our product will depend on our success over the first 2 to 3 years, but it"s encouraging to hear from our fellow ENTs that we are on the right path."
More about ENTẠ€¦ENTA, a 96-physician New York and New Jersey Ear, Nose and Throat and Allergy private practice, is committed to offering patients clinically superior centers of excellence (ENT doctors and Allergists). Its 28 offices provide patients with the highest quality comprehensive care and the most advanced technology. Now, ENTA is once again differentiating itself by taking Malpractice cost control into its own hands in an effort to streamline its cost structure and lower the cost of its overall healthcare delivery. ENT and Allergy Associates, LLP also enjoys a clinical alliance with the Mount Sinai Medical Center for the treatment of diseases of the head and neck, and has an ongoing partnership with the American Cancer Society for the promotion of smoking cessation in our communities.
To learn even more about the benefits of ENT and Allergy Associates, please visit http://www.entandallergy.com, where patients can conveniently find an ENT doctor or find an Allergy Doctor, and then easily book an appointment at the nearest New York (NY) or New Jersey (NJ) location.
ENT and Allergy Associates, LLP