Please read the below discussion and respond to it with the above instructions.
1. Build upon discussion below by providing additional details, statistics, ideas, personal perspectives, or links to interesting, relevant articles.
2. Conclude response with new idea to further stimulate the discussion.
3. At least 125 words. Document with a minimum of 1 reference(s) from peer-reviewed journals within the last 3 to 5 years.
Example of how to Response:
· I understood completely when you mentioned how …
· Or I agree with how you mentioned…
Discussion P1:
I researched two medical liability insurance providers for this assignment: American Professional Agency (APA) and CM&F Group. Both provide medical liability insurance for physicians, nurse practitioners, and physician associates. Similarly, both companies offered surprisingly large discounts for newly graduated nurse practitioners (APA 65% for first year, CM&F group 80%). This surprised me, I would have thought new-to-specialty practitioners would make more mistakes, thus costing more to insure, but the representative from each company cited that more claims come from seeing more patients, statistically, and that new providers see less patients than those with years of experience. Both policies had different rates for coverage based on claims or occurrences. A “claims made” policy has a lower monthly premium with a higher fee schedule based on how long you’ve had the policy and how often it is used. A policy based on occurrences has a higher starting monthly cost will less additions for services, much like a deductible system for health insurance. American Professional Agency offers a five-year policy contract that increases in cost over the years of service, with the insured paying a penalty if they choose to discontinue coverage before the contract term has expired.
It appeared that the details of coverage were largely similar, with both covering up to $6 million in total coverage. APA’s annual cost is $748, CM&F Group’s annual cost is $556. Because I work in a ketamine clinic, I asked both companies about coverage of ketamine therapy services for psychiatric indications, I got the impression from both representatives that this was a common topic of inquiry. The person from APA sounded confident in her answer that ketamine services for mental health indications will be covered, while the representative from CM&F Group gave several caveats like “It is but we are always reevaluating” and “right now it comes with the standard plan at no additional cost” making it sound like their policy on ketamine services was subject to change, possibly soon! I am aware of at least two major insurance providers that have recently dropped coverage for ketamine, so this question is important to me. For that reason I would choose APA for coverage if I had to choose now.
In further research, I discovered that NPs and PAs have been significantly less likely to have to pay out medical malpractice claims than their physician counterparts (Brock et. al., 2017). While there are too many confounding variable to draw the conclusion that NPs and PAs are safer in practice, this statistic does likely mean that we are cheaper to insure!
By SS
Jackielop222
3 years ago
6
files (1)
