Monday, December 18, 2017

OCMA Blog

Orange County Medical Association Selects Universal Financial Systems as its Business Partner

Universal Financial Systems will extend special offers to OCMA Physician Members 

Irvine, Calif., June 3, 2014 - The Orange County Medical Association is pleased to announce another benefit of membership.  The OCMA has designated Universal Financial Systems as its Business Partner for physicians seeking collections and pre-collections help on past due receivables. Universal Financial Systems is a full-service collection agency based in Southern California. 

Free Insurance and Patient Collection Performance Analysis ($300 Value)

  • Patient Collection Analysis
  • Insurance Collection Analysis
  • Accounts Receivable Analysis
  • Full Detailed Report

 
Pre-Collection Program - Offering a "5 %" rate for account referrals received and collected within 120 days from the date of service

  • This is exclusive for OCMA members. All other clients get the "5%" until 90 days from date of service

 
Standard Collection Program: 120+ days from date of service -> 30% of collected revenue

  • Competitors' rates can be as much as 40 to 50% rates of collected revenue
  • State-of-the-art tools to locate debtors
  • Active Account Monitoring - allows tracking and notification when debtor's finances improve, purchase assets, etc.
  • Month-end Status Reports
  • Client Account Reviews
  • Judgment Collections Expertise
  • Litigation Services Available 

 
For more information, please contact:
Greg Apostolou
(310) 386-9085
Grega@ufsworks.com


Malpractice Claims Consume Years of a Physician’s Career

Risk Tip by The Doctors Company

On average, each physician spends 50.7 months, or approximately 11 percent of an average 40-year career, on resolving medical malpractice cases—the majority of which end up with no indemnity payment. That’s the conclusion of a recent study1 by the RAND Corporation based on data provided by The Doctors Company, the nation’s largest medical malpractice insurer. Researchers found that 70 percent of the time physicians spend on claims is spent defending claims that end in no payment to the plaintiff.


Key findings of the study include:

  • Physicians experience additional stress, work, and reputational damage from the time spent defending claims.
  • Fighting claims takes time away from practicing medicine and from the opportunity for the physician to learn from his or her medical errors.
  • The lengthy time required to resolve claims also negatively impacts patients and their families.
The effect of malpractice claims on physicians’ careers is discussed further by Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company, in two short videos that can be viewed at www.youtube.com/doctorscompany.

To help prevent claims that can take up years of your career, follow these key tips to promote patient safety:

1.    Communicate with Patients

·         Understand the new vital sign: health literacy.

·         Do not ask patients if they understand—instead, ask them to repeat back the information.

·         Document patient understanding of instructions.

·         Provide the patient with written instructions.

·         Use a translator when necessary.


2.    Document Carefully and Objectively

·         Do not point fingers at other staff or providers.

·         Do not impeach the integrity of the medical record by altering it.

·         Use only approved abbreviations.

·         Review patient information that is automatically populated in the EMR.


3.    Monitor Handoffs and Ensure Follow-ups

·         Establish a formal tracking system for missed appointments.

·         Follow up with patients to reschedule.

·         Document missed appointments in the patient record.

·         Send a letter to patients who repeatedly miss appointments.

·         Explain the importance of follow-up care.

·         Refer the patient to another physician, if necessary.


4.    Avoid Medication Errors

·         Keep prescription pads secure.

·         Document samples in the medical record.

·         Check allergies at every visit and document in the same place in the record.

·         Review and reconcile medications at every patient visit.

·         Be aware of LASA (look-alike/sound-alike) medications.


5.    Follow HIPAA Regulations

·         Avoid unauthorized release or breaches of PHI (protected health information).

·         Safeguard against lost or stolen PHI through laptops or drives.

·         Examine office practices and layout that may compromise confidentiality.

·         Assess your methods to protect electronic communications.

·         Follow federal requirements and know your state regulations, which may be stricter.

 


Reference
1. Seabury SA, Chandra A, Lakdawalla DN, Jena AB. On average, physicians spend nearly 11 percent of their 40-year careers with an open, unresolved malpractice claim. Health Affairs. 2013;32(1):1-9. 


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