Local Coverage Choices and Local Service Best for the Future

Mary-Lou A. Misrahy, ARM, President and CEO

Though much within the health care industry has changed in the past few years, many things are still the same.

Nationally, health care has been experiencing a distinct shift from independent practitioners to multispecialty and multistate physician networks. Additionally, hospitals are increasingly purchasing practices, and integrated regional health care is on the rise. We expect these trends to continue, and changes in the market will result in shrinkage in the traditional professional liability market over the next three years.

This means that alternative risk coverage models are going to be needed. This year’s purchase of the EMPAC and SCRUBS risk retention group management companies diversifies Physicians Insurance’s portfolio of risk coverage, risk-avoidance products, and non-risk/fee products, enabling us to keep up with the changing needs of our policyholders.

But there are challenges you’re facing, too. This past year big, national liability insurers have tried to lure physicians and facilities into their rosters through promises of lower premiums or big retirement payouts. Though these promises may be tempting, there are advantages to being insured by a Northwest-based, mutual company like Physicians Insurance: flat or lower rates for the ninth consecutive year, a fifth consecutive annual dividend, and our ACCOLADES program, which offers 5-20% premium reductions for favorable loss experienceÑall of these demonstrate that Physicians Insurance is stewarding your local premium dollars in a way that focuses on you and not some out-of-state stockholder.

Add to this our superior knowledge of the local legal environment, on-site risk management training and consulting, and access to local and national experts and training on EMR, meaningful use, sports concussions, pain management, and improving patient communications. Plus, with our unique provider support program, Physicians Insurance members are truly benefiting more than ever from their locally based insurer.

Change may be constant, but our focus continues to be to solve risk financing needs and serve as an industry champion for patient health and safety. And since Physicians Insurance is owned and directed by the physicians we insure, you can continue to count on us to be a steadfast, reliable, and stable partner during this period of transformation.