News

• Nurse Practitioners' Role if Health-care Bill Passes - If Congress manages to overcome obstacles and pass some kind of meaningful reform this fall, the goal of covering some 50 million currently uninsured Americans will encounter a whole new range of hurdles. Chief among them is that there almost certainly won't be enough doctors to care for that many new patients. For the full story by Time, click here.

• Is Your Practice Insured Against Employee Theft? - We often read or hear media reports involving theft of funds entrusted to the care of volunteers or not-for-profit employees. However, it is not just nonprofits that are the objects of such thefts. Physician practices also find themselves being victimized. For example, "Woman Pleads Guilty to Stealing $783,000," was the headline of a recent newspaper article detailing the theft from a local ophthalmology practice by its business manager over a 10-year period. This theft might have continued, except that the bank at which the practice maintained its account discovered certain irregularities and notified the practice. The employee was fired, subsequently pleaded gulity to charges of fraud and, according to the article, will likely receive a three-year prison term. The physicians in the victimized practice say they have learned their lesson and have changed their policies and procedures as a result of the loss they suffered. To learn about how to protect your practice against such thefts, go to PhysiciansNews.com.

• Malpractice Lawsuits Declining in PA - According to Physician News Digest, malpractice suits are down; however, there's still a long way to go. To read more, click here.
• Red Flag Rules - The deadline is now January 1, 2011, changed from June 1, 2010. For the full story go to the MGMA Website. This deadline refers to when physicians must implement a formal identity theft prevention program under the Federal Trade Commission's "red flag" rules. Failure to comply could mean administrative penalties or up to $2,500 in fines per violation.
• Governor’s Budget Plan Includes Mcare Relief, Expanded Health Insurance - Gov. Ed Rendell in his budget address proposed a plan to pay off Mcare’s unfunded liability and expand health care coverage for the uninsured. For more information go to the Pennsylvania Medical Society Website.
• Central Pennsylvania Physicians Risk Retention Group in Top 50 - CPPRRG was included in the "Power 50" as defined by the May 2008 Captive Review, a guide to alternative risk transfer. The RRGs were ranked in order of financial prowess based on 2007 figures where available, or 2006 year-end numbers, weighted heavily towards the amount of premium written but also incorporating assets and surplus. The list was then presented to a panel of industry experts, who nominated individual RRGs based on subjective reasons. Example reasons included dominating their market sector, leading the RRG industry, or giving voice to RRGs in the regulator arena.
• Carleton Burtt Added to CPPRRG Board - Mr. Burtt was recently added to the CPPRRG Board. As a graduate of Harvard College with an honors degree in Economics, he brings a wealth of expertise. Upon graduation, he joined the Wall Street investment firm of Kidder, Peabody & Co. and represented the firm in London, England for eight years. He joined the New York investment advisory firm of J.M. Hartwell & Co., managing institutional common stock portfolios. Mr. Burtt was elected an officer of The Equitable Life Assurance Society of the United States in the Common Stock Department. Later elected a Senior Vice President, he was responsible for all corporate investments and the treasury function and oversaw assets in excess of $18 billion. He then joined the Chairman's Office where he shared responsibility with the Chairman for relationships with The Equitable independent directors, the several insurance industry associations of which The Equitable was a prominent member and for The Equitable's public representation in New York City and in Washington, DC. Mr. Burtt left The Equitable to serve as a professional trustee for several wealthy family trust clients of the New York law firm of White & Case. He was appointed by the New York Supreme Court as watchdog/overseer of the Reliance Insurance Company's reserving procedures and practices. He has served as an independent consultant, advising a number of companies in the life insurance, property-casualty and related financial industries on capital financing issues and strategic planning.
• Central Pennsylvania Physicians:
  - Expanded into 13 additional counties in Pennsylvania;
  - Started offering occurrence policies April 1, 2007; and
  - Exceeded 1,100 members!