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Risk Management—When Bad Things
When It Comes to Patient Care –
Look No Further Than Snow White Happen to Good People
Continued from page 3 Individual: Purchased on your own
It’s a great Trivia ques- “Bashful”. Too busy in Risk Management and Foregoing Malpractice Insurance if you get sued
tion. Can you name the their jobs and priori- Malpractice Coverage (“going bare”) for a medical related recommendation
Seven Dwarfs from the tizing tasks over peo- Asset protection is a combination of or procedure.
Disney classic Snow ple to engage with techniques and strategies designed to Group: Offered by employers
White? I’ll fill some pre- patients or other team protect your personal assets from law- Individual: Purchased on your own
cious column space while members? And you suits, civil claims, and bankruptcy pro-
you think … OK, here is might even have a ceedings. There are many strategies for The Role of Trusts
the list that most only get “Dopey’” or two roam- protecting assets from creditors. in Risk Management
to about four or five: Doc, ing around. Is their Understand the protections available and Finally, there are two basic types of
Dopey, Bashful, Grumpy, favorite answer to a whether they are Federal, State, Case trusts you can purchase to offset any risk:
Sleepy, Sneezy and Happy. patient’s question, “I law-based, or ERISA protected. 1) Revocable: The trust terms can be
How did you do? The cot- don’t know?” as Risk Management and Healthcare changed and part of your taxable estate.
tage that Snow White opposed to, “Let me Compliance Federal or State 2) Irrevocable: The trust terms cannot
stumbles upon is a reflec- BY JAY JUFFRE find out.” When it Compliance: it makes a difference. be changed and is not part of your tax-
tion of society and for the comes to patient care, HIPAA privacy/security rules compli- able estate.
purpose of this discus- staff engagement is so ance, High-tech compliance, (PCI) When life insurance policies are put in
sion could very easily be a mirror important. At the end of the day, we Payment Card Industry compliance, irrevocable trusts, you can’t change the
image of your organization. If we take need to constantly look for ways to (MID) Data Security Standard, any mer- terms of the trust after it is finalized. A
the easy route and cast Doc as the per- create a “Happy” and engaged team. chant who has a Merchant ID, (PHI) trustee administers the trust and sets up
fect doctor and Sneezy as the patient, For example, my organization’s #1 Personal Health Information, (PII) a trust checking account to make pay-
then that leave five characteristics to goal is Associates who take pride in Personal Identifiable Information, (BA) ments and distributions. The purpose of
describe the rest of your team. achieving their best. Concept is sim- Business Associate expanded definition, this type of trust is usually to transfer
Looking at the remaining list, I am ple, our customers will never be hap- (BAA) business associate agreements assets for estate planning purposes. This
sure everyone would want the entire pier than our employees and happy expanded definition, fines, penalties, jail type of trust is used often for life insur-
staff to simply fall into the “Happy” employees take great care of the client. time, Anti-Referral and Stark Anti- ance policies so that the beneficiaries can
category. Unfortunately, that is not Take the same approach with your Referral and Anti-kickback compliance, receive the proceeds free of estate taxes.
always the case. Think of your team. team and watch your patient satisfac- Florida Board of Medicine rules and A revocable trust is used to place an
Are they “Sleepy”? Are they over- tion scores soar! Medicare/Medicaid/Commercial payer asset in trust for someone while main-
worked and under-rested? Is anyone requirements. With so many standards taining control and the right to take back
on your team, “Grumpy”? Does the Jay Juffre is Vice President of and guidelines, what’s the risk that you’ll that asset or give it to someone else.
stress or pressure of the job occasion- Operations / National Service Director, be found non-compliant? Since the owner of the asset is still in
ally put them in a cranky mood which ImageFIRST. For more information on There are several risk management control of it, that asset remains part of
manifests itself into negatively effect- ImageFIRST, call 1-800-932-7472 or visit tools or insurance that you can purchase the owner’s estate for estate tax consider-
ing patients or the rest of their team? www.imagefirst.com. to safeguard you, your assets and your ations.
Are members of your team, at times, family.
Disability Insurance protects you if For more information contact Howard
you become disabled and can’t work. Wolkowitz, Financial Advisor, at
Group: Offered by employers HWolkowitz@FinancialGuide.com
Individual: Purchased on your own or (954) 558-3673.
Life Insurance protects your family if Securities and investment advisory services
you pass away. offered through qualified registered representa-
Group: Offered by employers tives of MML Investors Services, LLC. Member
Individual: Purchased on your own SIPC. [www.SIPC.org] OSJ: 2400 E
Looking to expand your Long-term Care Insurance protects Commercial Blvd., 11th Floor, Fort Lauderdale,
physician group? ǯ you if you can’t take care of yourself. FL 33308. (800)320-4180. CRN201907-
214993
Group: Offered by employers
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Cleveland Clinic Florida
Reaches 500th Transplant
Milestone
Cleveland Clinic Florida, Broward County’s largest provider of
solid organ transplantation, conducted its 500th organ transplant on
June 29, making it the fastest growing center in the state. The living
donor kidney received by 21-year-old Jazmine Serrano of Port St.
Ǥ ǡ Lucie, Florida, was donated by her 24-year-old sister Naraly Serrano.
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“Achieving this milestone in four short years is a testament to both
the need for transplantation services in South Florida and the caliber
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of complex care available at Cleveland Clinic Florida,” said Wael
Barsoum, M.D., President of Cleveland Clinic Florida. “Our team of
nationally recognized transplant specialists has done outstanding
work to provide the highest quality care and outcomes for patients
You wouldn’t change a patient’s medication without in need of adult kidney, liver and heart transplantation.”
ơ
Ǥ Changes to your business Cleveland Clinic Florida received approval from the United
Network for Organ Sharing to perform adult liver and kidney trans-
model deserve the same careful assessment. plants in 2013 and adult heart transplants in 2014. To date, the cen-
ter has completed 297 kidney, 157 liver and 46 heart transplanta-
tions.
Kaufman Rossin helps healthcare organizations
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E-mail Your Editorial Submissions to
editorial@southfloridahospitalnews.com
6 August 2017 southfloridahospitalnews.com South Florida Hospital News
