Malpractice insurance is one of the largest expense items that health care professionals have, so it’s important to find ways to save money while still receiving the proper coverage. Purchasing groups, in which a group of doctors buy insurance together, have numerous benefits in addition to decreasing premiums.

“We’ve found purchasing groups to be one way that doctors can gain as much control as possible with their malpractice insurance,” explained Matt Gracey, medical malpractice insurance specialist at Danna-Gracey, the largest independent medical malpractice insurance agency in Florida. “Power purchasing really does work—just like any other thing you buy, if you have negotiating power, you can get it less expensively.”
 
According to Gracey, purchasing group members can save anywhere from 5 to 35 percent, depending on how big the group is.
 
One of the only forms of unification that doctors are allowed to do by federal mandate, membership in purchasing groups is still underused. “A federal statute allows for the creation of risk purchasing groups (RPGs) in the same statute that allows for risk retention groups (RRGs), which are basically small insurance companies,” said Gracey, adding that RRGs are more complex, much more regulated and require an investment of capital to create.
 
“The beauty of an RPG is that there’s no upfront capital needed so there’s no barrier to entry,” he added. “If a doctor wants to move his or her coverage from an RPG, there’s no barrier to exit either. It’s a very simple mechanism of unity for doctors to gain purchasing power.”
 
There are other advantages to RPG membership as well.
 
“We work very hard to improve the claims profiles of our members within the RPG, which is the key to long-term stability,” said Gracey. “If you have claims-ridden and challenged doctors in your group, you won’t get good rates and the group won’t last long. The key is to be selective about bringing in doctors with fairly good claims histories and working with each member to make sure that they have as few claims as possible.”
 
In an RPG, the relationship between the insurance carrier and the doctors changes as well. Instead of being in a vendor/buyer relationship, physicians become partners with the insurance companies to lower the possibility of claims being filed against them.
 
“There is an element of transparency within RPGs; insurance companies share their level of losses and loss ratio and discuss claims openly, though anonymously, of course,” said Gracey. “In a vendor/buyer relationship, you have no idea what the insurance company’s profit margin is; you don’t know what’s behind that curtain.”
 
Doctors who do have claims are sheltered from high rate increases as part of an RPG; while they may not pay the same rate as doctors without claims, they are still paying less than they would if rates weren’t being buffered by a larger group.
 
Fraser Cobbe, executive director of the Florida Society of Nephrology and the Florida Society of Orthopedics, manages purchase groups for both organizations. “From an association standpoint, purchase groups allow us to provide sustainable membership benefits that encourage doctors to belong to our organizations,” he said. “We already bring physicians together to advocate for issues and for the profession, and bringing them together to purchase an insurance product they need fits within our mission.”
 
“In addition to the premium decreases that members get by purchasing in volume, it also enables doctors to have a more substantial relationship with their insurance carrier,” he added. “It allows us to dive deeper into risk management issues; see what is creating claims against our surgeons and track trends in practice and documentation.
 
“We can sit down with the carrier and get tips on how to avoid situations that will result in liability claims against our members, which improves doctors’ risk profiles, which means lower premiums,” he added. “We avoid claims and provide better care from a patient perspective. It’s a win/win situation for everyone.”
 
By joining professional associations, members can take part in these purchasing groups, which can be a very wise investment. “Our membership dues are $275 a year, and this past year, our members saved $8,000 off their premiums,” said Cobbe. “It proves our value to them every year.”
 
So why doesn’t every doctor join a purchasing group?
 
“While there are good companies out there that welcome the opportunity to partner with physicians, many brokers and insurance companies don’t want doctors to unify because it gives more power to the purchasers,” said Gracey. “This is why getting good guidance from RPG facilitators is so important.”


During the recent DCMA Presidential Installation Ceremony, I had the opportunity to rally the membership once again around the importance of physician leadership in the community and throughout the healthcare system.

There is a plethora of evidence that exists that documents the positive impact physicians can have when placed in leadership roles. One such illustration comes from a study published in 2019 in Health Care Management Review that concludes, “Large hospital systems led by physicians in 2015 received higher U.S. News & World Report ratings and bed usage rates than did hospitals led by nonphysicians, with no differences in financial performance. This study suggests that physician leaders may possess skills, qualities, or management approaches that positively affect hospital quality and the value of care delivered.”
 
One of my goals during the coming year is for the DCMA to create additional leadership opportunities for our physician members. We already have instructional opportunities through our Physician Leadership Academy and a unique partnership with Atlantis University to offer more formal education through their mini-MBA program.
 
We also have expanded organizational opportunities through our various committees and delegations that engage elected officials, public health officers, and other community organizations. These are great opportunities for physicians to begin to expand their influence and connections as well as drive reform in our healthcare system.
 
I strongly believe that we must encourage physicians to be proactive in the healthcare system in order to improve efficiencies and create a better work environment so we can provide high-quality service to our patients.
 
Physicians are the best advocates for healthcare improvements. In order to drive change and reach our objectives it is necessary that physicians speak with one voice. The DCMA is happy to be the epicenter of this movement.
 
I call upon my colleagues to reach out and see what change we can deliver together.


June 28, 2021 – Miami Cardiac & Vascular Institute at Baptist Hospital and South Miami Hospital has received Transcatheter Valve Certification from the American College of Cardiology (ACC). The honor recognizes the expertise of the program in offering an innovative alternative to open-heart surgery for some patients who require heart valve repair or replacement. 
 
Transcatheter aortic valve replacement (TAVR) is a minimally invasive procedure performed via a small catheter that is inserted through a blood vessel in the groin or through a small incision under the collarbone or between the ribs. It is used to treat aortic stenosis, a disease that restricts the movement of the aortic valve and causes chest pain, fatigue, shortness of breath and other life-limiting problems. Severe aortic stenosis can also lead to heart failure and sudden cardiac arrest.
 
“Miami Cardiac & Vascular Institute has always been at the forefront of breakthroughs in cardiovascular care,” said Barry Katzen, M.D., founder and chief medical executive of the Institute. “This certification validates the excellence of our program, awarding us for meeting or exceeding clinical standards, patient outcomes, quality of care and other guidelines.”
 
The Institute leads numerous cardiovascular clinical trials – many of which focus on less invasive approaches – and was the first in South Florida to perform TAVR outside of a research trial. TAVR was approved by the U.S. Food and Drug Administration in 2012 as a safer option for patients at high risk for open-heart surgery. In 2019, they expanded the approval to include patients considered at low risk for complications or death with open-heart surgery. The Institute also offers the new BASILICA treatment, which is done immediately before TAVR for a subset of patients identified as at risk for developing a coronary artery obstruction during TAVR.
 
“Certification recognizes our experience, multidisciplinary team approach, extensive training and excellent results,” said Ramon Quesada, M.D., medical director of Structural Heart and Complex Percutaneous Coronary Intervention at the Institute. “With new devices and technologies, we are able to offer minimally invasive procedures to more patients. Our community can be confident that we are a top center in the nation for these procedures.”
 
The ACC evaluation includes quality of care, clinical outcomes and patient experience, performance improvement initiatives, participation and review of data from national registries, staff credentialing and education, infection control processes and equipment safety.
 
About Miami Cardiac & Vascular Institute
Miami Cardiac & Vascular Institute is the largest and most comprehensive cardiovascular facility in the region. The team of multilingual, multidisciplinary specialists pioneered the development of minimally invasive techniques used to treat aneurysms, blockages in veins and arteries and holes in the heart. The Institute leverages the power of Baptist Health’s combined resources of experts, pioneering research, compassionate caregivers and leading-edge treatments and technology.
Miami Cardiac & Vascular Institute is part of Baptist Health South Florida, the largest healthcare organization in the region, with 11 hospitals, more than 23,000 employees, 4,000 physicians and 100 outpatient centers, urgent care facilities and physician practices spanning across Miami-Dade, Monroe, Broward and Palm Beach counties. Baptist Health has internationally renowned centers of excellence in cancer, cardiovascular care, orthopedics and sports medicine, and neurosciences. In addition, it includes Baptist Health Medical Group; Baptist Health Quality Network; and Baptist Health Care On Demand, a virtual health platform. A not-for-profit organization supported by philanthropy and committed to its faith-based charitable mission of medical excellence, Baptist Health has been recognized by Fortune as one of the 100 Best Companies to Work For in America and by Ethisphere as one of the World’s Most Ethical Companies. For more information, visit BaptistHealth.net/Newsroom and connect with us on Facebook, Instagram, Twitter and LinkedIn.
 


Trulieve Cannabis Corp. and Harvest Health & Recreation Inc. announced the expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the previously announced proposed acquisition.

Trulieve CEO Kim Rivers commented, "Completion of the HSR milestone is exciting and we will continue to work toward closing this strategic transaction. Upon closing, we expect to leverage the expertise and resources of the combined companies to realize meaningful scale and expansion for years to come."
 
Closing of the Transaction remains subject to the satisfaction or waiver of all remaining conditions in the agreement. The Harvest shareholder vote is expected to occur in the third quarter of 2021. Both companies continue to work toward obtaining all required regulatory approvals.


Tenet Florida Physician Services (TFPS) is pleased to announce Erica R. Podolsky, M.D., FASMBS, a highly-experienced general surgeon with expertise in bariatric and minimally-invasive surgery recently performed her 500th robotic surgery with the da Vinci robot at Delray Medical Center. Dr. Podolsky is the medical director of the Surgical Weight Loss Program at Delray Medical Center where she specializes in robotic laparoscopic abdominal surgery including bariatric (weight-loss surgery), hernia and hiatal hernia surgery. She also serves as the Chair of Quality and Patient Safety on Delray Medical Center’s Medical Executive Committee.