This activity is of value to physicians, physician assistants, nurse practitioners, and practice managers with an interest in managing the business side of healthcare.
Goals and Objectives
The past 5-10 years have been a 'buyers market' for independent physicians in search of medical malpractice insurance coverage. Pricing has been going down year over year and more carriers are entering the market. In the last year, we have seen 7 insurance companies go insolvent. Underpriced coverage, large judgements, reinsurance availability and carriers operating at an underwriting loss are factors pointing towards a hardening malpractice marketplace. It is important that independent physicians understand their options. Malpractice contracts can be complicated, and sometimes even confusing for a provider who is navigating the selection of the best possible contract, at the best possible rate, or to meet a specific need. The goal of this activity is share insights on claims trends and the other forces that determine pricing; examine the basics of medical malpractice insurance terms, and the various contracts available to the independent physician; and provide tips on risk management strategies to mitigate risk to malpractice claims. Upon completion of this activity, learners should be better prepared to:
- Understand what drives malpractice insurance pricing;
- Evaluate malpractice insurance contracts;
- Cite basic risk management strategies that can be implemented to mitigate the risk of a large lawsuit.
CME Release Date: November 12, 2019
Valid for credit through: November 12, 2020
Course type: Video
Estimated time of completion: 45 Minutes
Southern Medical Association is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing medical education for physicians.
Southern Medical Association designates this CME Journal Article for a maximum of .75 AMA PRA Category 1 Credit™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.
AAPA: AAPA accepts certificates of participation for educational activities certified for AMA PRA Category 1 Credit™ from organizations accredited by ACCME or a recognized state medical society.
AANPCP: The American Academy of Nurse Practitioners Certification Program (AANPCP) accepts AMA PRA Category 1 Credit™ from organizations accredited by the ACCME.
For information on applicability and acceptance of continuing education credit for this activity, please consult your professional licensing board. All healthcare professionals who are not MDs or DOs will receive a certificate of participation.
Instructions for Participation and Credit
This activity is designed to be completed within the time designated; learners should claim only those credits that reflect the time actually spent in the activity. To successfully earn credit, participants must complete the activity online during the valid credit period noted, following these steps:
- Read the goals and objectives, accreditation information, and author disclosures.
- Login in below to access the article in order to study the educational content and references.
- Online, choose the best answer to each test question. To receive a certificate, you must receive a passing score of 80%.
- Complete the activity evaluation and attestation.
Upon successful completion of the test, evaluation and attestation, your certificate will be processed and emailed from [email protected] within approximately 1 hour. Credits will be archived for 6 years; at any point within this time period you may login to your account to print a duplicate copy of your certificate.
Click the Disclosure Tab above for Faculty Information
Disclosure of Relevant Financial Relationships
As an organization accredited by the ACCME, Southern Medical Association requires everyone who is in a position to control the content of an education activity to disclose all relevant financial relationships with any commercial interest. The ACCME defines "relevant financial relationships" as financial relationships in any amount, occurring within the past 12 months, including financial relationships of a spouse or life partner that could create a conflict of interest.
Southern Medical Association encourages Speakers/Authors to identify investigational products or off-label uses of products regulated by the US Food and Drug Administration, at first mention and where appropriate in the content.
The following individuals, unless otherwise noted, have no relevant financial relationships to disclose.
Teddy Gillen is an insurance broker and healthcare consultant on a mission protect the independent physician practice model. Teddy and his firm, Southern Protective Group, design group purchasing malpractice insurance programs for associations with pricing discounts and policy structures that would normally be reserved for larger healthcare systems. Teddy has 15 years of industry experience – He and SPG are endorsed by physician associations across the country.
Southern Medical Association Staff:
Steven Strode, MD, MEd, MPH
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