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Unlike traditional brokers, we use data to help drive our client's decisions... read more

We consider our client's risk transfer options from all angles, making the process easy and efficient... read more

We've employed techniques from a variety of industries to bring our clients an unobstructed view of risk transfer options that is not available elsewhere... read more

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Information is critical to anyone charged with risk management. Below is a listing of relevant, real time industry insights we have complied. Follow us to stay up to date on what we are reading and thinking.

AM Best Publishes Review of Medical Malpractice Insurers

Insurance rating agency AM Best published their annual report and held a webinar on the state of Medical Malpractice insurers. The report cites the sector as generating better underwriting returns than the broader property/casualty market but also takes a look back at the historical performance of the sector. Medical Malpractice insurance has exhibited extreme volatility in past insurance cycles and Best warns of a possible sharp upward snap in pricing and terms when premiums become unsustainable.

Calculated Risk Advisors is helping clients hedge against an eventual turn in the market and prepare for potentially tough risk transfer decisions.

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Academic surgeon files lawsuit against partners for defamation of character

An article on ligation between Chicago surgeons affiliated with UIC Medical Center shows the conflicts and costs that can arise from the often complicated business arrangements in modern medicine.

Calculated Risk Advisors is working with clients to insure they are protected in cases where business ventures turn sour.

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Physician group pays $100,000 HIPAA fine for security lapse in scheduling system

A physician group in Arizona was slapped with a $100,000 fine for a security lapse that allowed their surgery schedule calendar to be viewed online.

This is another example of increased government scrutiny in issues of patient confidentiality. Calculated Risk Advisors is working with clients to help mitigate their risk of data loss and insure against any unknown exposure.

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Malpractice lawsuits against Ohio doctors down

The Columbus Dispatch reports that the Ohio Department of Insurance’s annual report on closed claims shows that claim payments have dropped to the lowest level since the state began tracking the data in 2005.

The report shows many slices of the claims data, including a slide that shows 39 claims paid in the state of over $1M.

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Dentist sues new employer for wrongful termination after sale of practice

When Innovative Dental Group, LLC acquired the practice of a Chicago dentist in 2010, the terms of the acquisition called for the dentist to work as an employee of the new company for three years.  In late February of 2012, the dentist’s employment was terminated.  Allegations of wrongful termination are being brought against Innovative Dental. This situation highlights the importance of the contract language of a merger or acquisition, as well as the need for utmost care in employment practices.  Calculated Risk Advisors has methods of protecting your firm on both accounts.
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Small town Comptroller charged with embezzling $30M

The Comptroller of a small Illinois town was arrested and charged with misappropriating $30 million over a span of six years.  Neither the city’s bank nor its independent auditors discovered the suspicious transactions during the period of time the CFO was allegedly taking funds.  Poor oversight and negligence are blamed for the delay in discovering the missing funds as well as the general economic downturn being the assumed reason why the town was loosing money.  Calculated Risk Advisors assists clients in assessing their employee theft exposure and recommending practices to help mitigate the risk.

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Hospital operation to pay $42.7M to settle medicare over billing charges

Tenet Healthcare has agreed to a fine of almost $43M for improperly billing outpatient procedures in 2007. These investigations and fine continue to increase as government agencies look for ways to cut costs. Risk management solutions are available to lessen the risk of loss and pay for investigation and defense costs.

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Atlanta health system loses data on 315,000 patients

Emory Health System in Atlanta discovered the loss of 315,000 patient records, many including social security numbers and details of medical treatment. This is the most recent in a long line of similar data losses. Like most losses in the healthcare industry the data was physically lost and not hacked or taken due to lax network security procedures. Calculated Risk Advisors is working with clients to address, mitigate and insure this exposure.

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Couple whose baby died from wrong IV dose gets $8.25 million

After giving a newborn a fatal dose of sodium chloride after heart surgery in 2010 Advocate Health System has settled the case with the family for $8.25M.

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Howard Brown to pay $715,000 to settle claims of misusing grants

A Chicago health center has agreed to pay a $715,000 fine to various federal agencies to settle allegations it misused grant money.  The legal costs involved in reaching the settlement are unknown.

As allegations of waste, fraud and inefficiency in healthcare are increasingly being investigated by government agencies the defense and investigative expenses required are skyrocketing.  Although fines are generally uninsurable the legal costs can be and are often just as high. Calculated Risk Advisors is working with it’s healthcare clients to proactively implement risk management and risk transfer plans.

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