Page 18 - SFHN Dec 2020

Cover Story: State Report Gives Doctors Good Idea of Which

Insurers Settle or Fight Malpractice Claims

Continued from page 1
Some insurance companies have given doctors 100 percent
it’s a lot better to settle cases because the doctor and the insur- rights to consent to any settlement, while others have given
ance company aren’t exposed if they can get the doctor out for them limited rights of consent.
limits of liability or less,” he continued, adding that claims “This becomes very important when a doctor is deciding
totaling more than $10 million are becoming more frequent. what insurance company to go with to handle their malpractice
“Others believe in fighting anything that’s defensible, which is insurance,” said Gracey, giving the example of MedPro, which
what most doctors want so as not to blemish or ruin their rep- has a 40.1 percent settlement rate. “In addition to having some
utations.” skilled claims people and a fight-anything-defensible philoso-
In addition to highlighting an insurer’s philosophy, the data phy, MedPro also has a clause in their insurance policies that
also reflects a company’s confidence in its in-house claims man- gives doctors a 100 percent right to tell them whether to settle
Discover agers, who decide which claims to settle and which to push or not. As a result, they have one of the lowest ratios, because
back on, and the outside attorneys they hire. “There’s an art to
South Universsity claims management, and these numbers reflect the level of con- doctors really don’t want to settle defensible cases.”
According to Gracey, it can be problematic when an insur-
fidence and experience a company has in its staff,” said Gracey. ance company gets the reputation for settling cases.
The 2020 report is an interesting mix, with some companies “Word gets around in the plaintiff attorney world, and they
settling numerous cases and others holding the line. The top
Whether you’re just starting inn the field hunt for cases against companies who settle anything that
of nursing, or looking to movve your two medical malpractice insurers in Florida, The Doctors comes at them,” he said. “Plaintiff’s attorneys don’t want to go
career forward, South Univer rsity can Company and MedPro, for example, settled 58.4 percent and to court; they’d much rather settle than litigate. When they find
elevate your journey as a car regiver. 40.1 percent of their claims with payments; whereas insurance companies with the same philosophy, it’s like blood
ProAssurance settled 81.5 percent, MedMal Direct settled 88.6 in shark-infested waters.
percent, and Physicians Insurance Company settled 93 percent “Most doctors want an insurance company that will defend
with payments. them against frivolous or meritless cases,” he added. “While
The report also reflects a fairly recent change by the Florida there are a lot of factors to consider when choosing a medical
Legislature to a longstanding law that restricted insurance com-

West Palm Beach, Florida panies from offering malpractice insurance that allowed doc- malpractice insurer, from price to size to financial strength, it’s

tors to choose whether to consent to a settlement. extremely important that doctors also look at whether a com-
pany will fight for them when they feel they’ve done nothing
From all of us at “Before, if a doctor was sued and wanted to settle, the insur-
m Beach
South University, West Palm ance companies could still decide to fight the suit. The doctor wrong.”
thank you for your servi ce!
wasn’t allowed by law to have any voice in the decision,” said To learn more, contact Matt Gracey or Tom Murphy
Gracey. “Now, if an insurance company wants to give a doctor at (800) 966-2120 or visit www.dannagracey.com.
a say in settling, they can.”
Get Started today! Call us at
u
866.242.1840 or visitt Coming next month in South Florida Hospital News
SouthUniversity .edu/W estPalmBeach and Healthcare Report
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18 December 2020 southfloridahospitalnews.com South Florida Hospital News