30th of July 2010
11/06/2009
An ear, nose and throat (ENT) and allergy private practice has announced the formation of the first risk retention group (RRG) to provide medical malpractice (medmal) coverage exclusively to ENT physicians and allergists.
ENT and Allergy Associates (ENTA) said the Vermont-domiciled RRG Otolaryngology, Allergy Specialty Insurance Services (OASIS) to provide otolaryngology and allergy-specific medical malpractice coverage.
ENTA said in a statement that it had decided to set up the RRG as a means of stabilizing its malpractice premiums in the face of mounting deficits among the largest insurance carriers.
Dr. Wayne Eisman, ENTA president, said: “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.”
In addition, ENTA says it 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.
Dr. Steven Sacks, newly elected president of OASIS, said: “Unlike community-rated states like New York where risk is pooled across multiple specialties and rates determined accordingly, our programme will be geared specifically to our risks, which should result in lower claims, stable premiums and lower patient care costs.”
ENTA employs 96 physicians in New York and New Jersey across 28 offices and also has a clinical alliance with the Mount Sinai Medical Center for the treatment of diseases of the head and neck and an ongoing partnership with the American Cancer Society for the promotion of smoking cessation.
Robert Glazer, CEO of ENTA said: “ENTA is well positioned to self-insure. While participation will initially be limited to the physicians of ENTA, 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 two to three years, but it’s encouraging to hear from our fellow ENTs that we are on the right path.”
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WELCOME TO THE Captive Review Cell Company Handbook 2009 – the second edition of our global directory of cell company jurisdictions. Since we last published this directory, the general attitude toward cell companies seems to have shifted up a gear. Whereas single-parent companies have long ruled the captive roost, a slight uptick in the formation of pure captives at the beginning of this year can’t hide the fact that growth in this market is still sluggish.
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