UPDATE - On finance and practice - Medical Economics | Practice Management

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Medical Economics
UPDATE
On finance and practice


Medical Economics


How fair are your state courts?


How state liability systems rank
To see how state civil justice systems across America are perceived, the US Chamber Institute for Legal Reform (founded in 1998 by the US Chamber of Commerce) commissioned a survey of more than 1,400 practicing corporate attorneys and general counsels. According to this year's survey, the four states that scored lowest last year—West Virginia, Mississippi, Alabama, and Louisiana—remain at the bottom of the heap in terms of overall legal fairness. Connecticut showed the most improvement, jumping from eighteenth to fifth place. Rounding out the top five are Delaware, Nebraska, Virginia, and Iowa.

States were judged on a variety of key elements, including venue requirements, treatment of class action suits, size of punitive damages, judges' competence and impartiality, and juries' fairness and predictability. You may view your state's particulars online at http://www.instituteforlegalreform.org/harris.

Will your hospital hire a Top Gun?

Hospitals increasingly are following unique paths toward improving quality and safety standards. For example, Vassar Brothers Medical Center, a 365-bed facility in Poughkeepsie, NY, recently hired LifeWings Partners, a group of experienced military and commercial pilots, former astronauts, and physicians. The aviation-management design that LifeWings offers—which combines the latest technology with comprehensive teamwork training for flight crews and mechanics—has resulted in a dramatic decrease in aviation accidents, and the company says the program can achieve a similar reduction in surgical errors in the OR.

Preparing doctors for the next national disaster

On May 1, the American Board of Disaster Medicine began accepting applications for certification in disaster medicine and plans to administer the first examination in the fall. The American Board of Physician Specialties created the new board to improve doctors' preparedness in the event of a disaster like Hurricane Katrina, a terrorist attack, or a global health crisis. The program is open to any doctor with an unrestricted license. Check out the other eligibility requirements and program particulars at http://www.abpsga.org.

More medmal rate reductions in Texas

Tort reform continues to have a positive effect on malpractice rates in Texas. In April we reported sizable reductions in rates for physicians covered by Texas Medical Liability Trust. Now, The Doctors Company, another well-established physician-owned malpractice insurer, is following suit. Beginning in July, doctors who renew with the company will enjoy premium reductions ranging from 10 to 46 percent. The size of individual rate cuts will vary depending on location, specialty, and coverage limits; the average is 18 percent.


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Source: Medical Economics,
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