The President's Blog

This past weekend, PICA was honored to host the APMA Young Physicians’ Institute (YPI) at our headquarters. The YPI is made up of podiatry students, residents and practitioners in their first 10 years of practice. The meeting is designed to identify and develop future leaders within the profession. This is the first year it has been hosted at our office in Franklin, Tennessee.

The YPI was responsible for putting together the program including motivational speakers, discussions on healthcare economics, risk management, communication skill development and medical ethics, to name a few.

It is amazing to see our young and future colleagues in action. And judging by their performance, the future of our profession is limitless.

One of the reasons the ProAssurance is such a great fit for PICA is the similarities in how we run our respective companies. As such, when PICA became part of our parent company, we adopted the ProAssurance promise of Treated Fairly®.

What this means to you is that our actions for our customers are guided by our dedication to the values of integrity, commitment, respect, insured involvement, collaboration, communication and enthusiasm—every day.

On a practical basis, this means:

• You deal with people who respect your important professional identity.
• You have our focus, so we can understand your unique needs.
• Your valuable opinions are heard and affect how we serve you.
• You deal with enough uncertainty in your profession; we will help you manage uncertainty at every encounter.
• You can be clear about your professional liability coverage, and our communications will make that easier.
• You receive an unfettered defense of your professional actions against non-meritorious claims, where legal environments allow.
• You can expect an uncommon level of transparency, and a company that delivers solid financial strength.

So you see, Treated Fairly® is not just a tagline, it’s our way of life. And that’s a promise you can count on.

 

Have you ever wondered what your actual risk is of being sued? Perhaps not overtly, but I suspect that each and every one of us thinks about this in some way. It is a reality of medical practice today that we need to be concerned about a malpractice claim.

In fact, the frequency rate for podiatric physicians is 5%. This means that statistically, 5 out of 100 podiatrists will be named in a lawsuit each and every year. Stated another way, each of us will be named in a lawsuit every 20 years.

So, in reality, it’s not if you will have a lawsuit, but when. PICA’s experience in podiatric malpractice is the most extensive in the industry. No other company can say that it has handled more than 15,000 podiatric malpractice claims. That being the case, does it make sense to “shop” for the cheapest insurance you can buy versus getting the best insurance to help you protect your hard earned reputation?

I am returning from a trip to Arizona where I had the opportunity to attend a Spring Training game between the Los Angeles Angels and the Seattle Mariners. Spring baseball is such a wonderful time of renewal where all of the teams are still in the hunt for the championship. It is opportunity for all of the teams to reorganize in hope of getting to the next level.

Spring is also a time of opportunity at PICA. As a policyholder, you have the opportunity, as you renew your policy, to engage with your PICA account manager to ensure that you are getting the coverages you need to protect your reputation and your practice. PICA is unique in that our account managers are dedicated solely to the needs of podiatric physicians. Since PICA employees do not work on commission, they can truly dialogue with you about what is best for you, not them.

So give your account manager a call. If you don’t know who your account manager is, call us toll-free at (800) 251-5727 and we will connect you. They are standing by and ready to launch our new season!

Ross

If you ever have the misfortune of being named in a malpractice suit, your lawyer will become one of the most important people that you will depend upon. Rest assured, PICA’s attorneys are THE most experienced in the podiatric malpractice industry.

All malpractice insurance companies employ experienced medical malpractice legal counsel. Only PICA hires legal counsel with specific podiatric malpractice experience. In fact, PICA’s legal panel has more than 1,000 years of combined podiatric malpractice experience.

Why is this important? Well, when it comes to protecting your reputation, who would you rather have: the very best, podiatry-specific legal counsel or a medical malpractice attorney that doesn’t know the difference between a metatarsal and a metacarpal?

The choice is clear. PICA provides its policyholders with the very best legal counsel—a claim that no other carrier can truthfully make.

This past week, meetings were held at our office in Franklin, TN for our three PICA committees: claims, underwriting and risk management. The committees meet face-to-face three times per year. In an effort in cost efficiency, most of their day-to-day business is conducted electronically or by telephone.

A uniqueness of PICA is that we involve practicing podiatric physicians in each of those committees. Only a practicing podiatrist can understand the issues that you deal with on a daily basis. This is a fact that is not replicated by any other company.

At least one claims committee member participates in every single malpractice claim we receive. His/her job is to review the claim and report to our claims specialists all aspects of the claim, good and bad. Only a practicing podiatrist can opine about the quality of the medicine that is part of a claim. And, by delving into that claim in excruciating detail, only then can we provide the best possible defense.

Our risk management committee is responsible for creating the unique, podiatry-driven risk management programs we provide. All of the topics considered by our committee come directly from the actual malpractice cases we receive. We know what allegations a podiatrist gets sued for, so the committee helps us make sure that we are addressing these issues from the standpoint of a podiatric physician.

The underwriting committee assists the underwriting department with evaluating the individual circumstances that have resulted in claims and helping determine whether they meet the standards of a PICA insured. They may be called upon to discuss certain cases, peer-to-peer, like only a colleague can do.

Malpractice insurance is about helping you protect your reputation. Why would you leave that up to any other company that doesn’t have a clue as to what a podiatrist does?

I really do read your e-mails, letters and listen to your telephone calls. And, I respond to them personally, as well! You see, as a podiatrist, my instinct is to think about malpractice insurance exactly the way you do.

I worry about the reality of the rising costs of practice today and the impact on “the average guy” out there. I worry about what the Affordable Care Act will mean to podiatrists across the country. I worry about defending the reputations of podiatrists by providing access to the very best, podiatry-specific legal defense available to our insureds. And, I worry about making sure that I keep current with everyday practice by employing practicing podiatrists on our claims, risk management and underwriting committees.

So your calls, letters and e-mails are essential to me to keep in touch with our policyholders. To continue to lead the podiatric malpractice industry, I need to continue to hear from you to be truly engaged with you. So keep ‘em coming!

For those in my generation and older, when we speak of The PICA Story, we know what that means. We think back to the days when it was difficult for podiatrists to get malpractice insurance and a group of forward-thinking podiatrists banded together, put up their own money, and with the help of the APMA, created PICA: “A company for podiatrists by podiatrists.”

The rest, as they say, is history…..until now. You see, the world is changing. For the newer generations of podiatrists, not being included in insurance plans, Medicare, hospital staffs or the inability to secure malpractice insurance, this story has no relevance. To them, it feels a lot like my father telling me he walked to school both ways uphill, barefoot in the snow. IT HAS NO RELEVANCE.

For PICA to continue to lead the podiatric malpractice industry, we must change…and we are. This past weekend, the newest generation of podiatrists, the leadership from the American Podiatric Medical Students’ Association, has been holding its orientation and mid-winter house of delegates meetings. It is great to have them back in Nashville. It has been a number of years since they have been here. More importantly, it allows PICA to interact with them to LISTEN to what the world according to THEM looks like.

By truly listening to them, and by changing to meet their needs, we can discover the secrets of success in their future. And, by all accounts, the future is bright.

 

 

I just came back from the New York Clinical Conference. Even with the below freezing temperatures, it was a great success from my standpoint.

While I don’t know the actual numbers of attendees, the traffic at the PICA booth was nonstop. It was tremendous to hear from so many of our more than 1,100 New York policyholders. My staff and I greatly appreciated your comments and suggestions. Your feedback is essential to providing to you the superior customer service that you deserve.

Seeing the fully packed, standing-room-only gathering for our risk management program was further proof that the podiatry-specific programs we put on are second-to-none in our industry. And, the evaluations filled out by our insureds will help us continue to improve on the program.

I personally enjoyed the smaller session that I led, “Preventing Potential Claims of Negligence –

Just Because You Can, Should You?” The debate and personal interaction with our policyholders were very gratifying to me.

Lastly, PICA was glad to sponsor two lectures by Lawrence Van Horn, PhD, Associate Professor of Health Economics and Management at the Owen School of Management of Vanderbilt University. Dr. Van Horn’s insight, humor and matter-of-fact conversations about the economics of healthcare were both provocative and timely.

I would like to thank the New York State Podiatric Medical Association for its endorsement of PICA and for its partnership in bringing the best products and services to its members.

PICA’s Risk Management Department is one of many reasons why we should be the only choice of malpractice insurance for podiatric physicians. The department, staffed by Barbara Bellione and Amy Braswell, has experienced risk managers who are ready to answer your questions. Last year, they fielded more than 1,200 phone calls!

Check out our innovative online risk management resources at www.picagroup.com. Here you will find everything from surgical consent forms, advice on terminating your relationships with non-compliant patients and forms for off-label medication usage.

Those who want the convenience of getting their risk management discount without leaving the confines of your home can log on to the Data Trace website and take the online risk management course.

And, who except PICA puts on podiatry-focused risk management programs around the country? This year’s program, The Jury’s Out: Anatomy of a Podiatric Malpractice Trial, debuted this past weekend at the SAM meeting in Orlando. This program portrays the real-life details of a trial involving a PICA policyholder. It is a riveting courtroom account hosted by Jack Lynch, Esq., one of PICA’s incredibly experienced legal counsel.

Check out and take advantage of all of our risk management services. They just may prevent you from being involved in your own malpractice case.

My family, like numerous others in podiatry, includes three generations of involvement in the profession. It is one of the things that is so unique and special about the profession.

My father was a proud member of the New York College of Podiatric Medicine Class of 1955. He graduated before podiatrists were allowed to practice in hospitals and before residency training existed. Like many others of his era, he worked to improve the educational experiences of future graduates and was instrumental in starting a podiatric residency at Van Nuys Community Hospital in California in mid-1970.

My wife, Betsy Herman, began her carrier in podiatric medicine as the registrar at the California College of Podiatric Medicine in 1983. Until her recent retirement from the profession when we moved to Tennessee, she worked for the American Association of Colleges of Podiatric Medicine, the American Podiatric Medical Students’ Association and the American Podiatric Medical Association.

And now, my son Daniel is working for the American Association of Colleges of Podiatric Medicine. His role is in recruitment of qualified applicants to our nine schools of podiatric medicine.

My family podiatry story, while not unique, exemplifies why PICA is the company that it is today. Unlike our competitors that are largely giant commercial corporations, PICA is all about podiatry taking care of our family, podiatry. After all, we are “for podiatrists, by podiatrists.”

On behalf of the entire PICA staff and the podiatrists who work on our committees and advisory board, I wish each of you a healthy and successful New Year! 2012 was a year of leadership transition at PICA with the retirement of our President and CEO, Dr. Jerry Brant, and the beginning of my tenure. We have completed that transition and I am happy to report that 2012 was another very successful year for our company.

We look forward to even greater success in the New Year. We are implementing some very innovative changes in 2013 and beyond to continue our place as the industry leader in podiatric malpractice insurance. One example is that we are making changes to the policy limits of our Administrative Defense Coverage that, once approved by the state departments of insurance, will be unmatched by our competitors.

The New Year is always an opportunity to evaluate your insurance coverages. Not only does PICA provide the most superior malpractice coverage for podiatrists available, but through our partnership with ProAssurance Agency, PICA policyholders can purchase excellent general liability, cyber liability, worker’s compensation and other coverages.

So, call your PICA account manager to take advantage of all that our company has to offer!

It has just been over a year since I left practice to come to PICA. Prior to making the transition, my practice merged with six other practices to form an 18-doctor, 11-office practice. Our motivation for this merger was economic, based upon my practice crystal ball of where we felt healthcare was going.

Our decisions as a group took us through serious analysis of the different options available. We looked at IPA-type models, MSO models and ultimately came to the decision to create an equity-based model. This model provided for the greatest amount of integration of our practice, but we felt it gave us the greatest opportunity to succeed with the coming changes in healthcare.

Every consultant we hired cautioned us to not make this decision solely on believing that reimbursement would be higher in a group than if we remained a solo practice. In fact, they stated that if this was the reason to do this, then we likely would be disappointed.

Others around the country are going through similar conversations with their colleagues. The motivation and ultimate decision to stay solo (or small) or get larger within the group paradigm are truly an individual decision. As part of making those decisions, among other decisions, you must do your own analysis and soul-searching to determine what you want to accomplish, how much control you are willing to cede or maintain and what the local landscape in your area is now and in the future.

This ends up being an individual decision after carefully weighing your options. Rest assured, whatever direction you choose, PICA will be there as a partner for the long haul.

When I graduated from podiatry school, less than one-half of the graduates were fortunate enough to have a one-year residency. Hospital privileges were just opening up for podiatrists around the country. Surgical training, when available, was largely confined to the forefoot. Trauma cases were rarely attended to by podiatrists. And, diabetic limb salvage was non-existent.

The education and training of today’s podiatry students is superior in every measurable way to the training of my day. Podiatry residents of today spend at least three years learning everything that is now necessary to know in practice. And, the integration of podiatric physicians alongside other medical specialties is commonplace.

PICA, too, is evolving. Because of the complexities and variation in practice from non-surgical care all the way to complex foot, ankle and leg reconstructive surgery, PICA will be unveiling different levels of coverage that meet the needs of yesterday’s, today’s and tomorrow’s podiatric physicians. The recent survey that was mailed to your office is a tool that will help us create those innovative and forward-thinking products that only a podiatry-centric carrier could understand. Frankly, it’s what makes us so unique in the market place. So make sure that you fill it out and return it to us.

We’ve come a long way, baby… but we’re just getting started!

This week, November 26-30, marks the beginning of PICA’s annual United Way campaign. PICA, through our employees, has a long history of participation in community service in Middle Tennessee. In fact, in relation to our relatively small number of employees at PICA, we are among the most generous companies in the area.

And with good reason. We are an extremely fortunate company that has enjoyed 31 years of success. As part of that success, we have the obligation to be a good corporate citizen and to give back to the community. And, boy do the employees of PICA give back!

Not only are the employees of PICA generous with their wallets through payroll deductions on behalf of the United Way, but they give back with their time, as well. On at least a quarterly basis, the employees organize various community service events to show that we can serve those that are less fortunate.

Just this year alone so far, the employees have volunteered at the Second Harvest Food Bank, the Meals on Wheels program, the American Diabetes Association “Step Out” walk (for which they raised over $5,000!) and the “Full Tummies, Warm Hearts” program, to name a few.

It is truly inspiring to lead a group of individuals who not only serve our policyholders, but serve our community, too!

The Thanksgiving holiday is my most favorite holiday of the year. For my family and me, it is a time of reflection for all of the good things that we are fortunate to have. It is also a reminder that there are many who are less fortunate and that could use our help.

As I have settled in to my new role as president of PICA, I am fortunate to learn, on a daily basis, the impact that we have on our PICA policyholders. Most of you have been insured with us throughout your entire careers as podiatric physicians. Others are newer to the PICA family, but no less important.

On behalf of our staff and me, please accept our heartfelt thanks for your commitment to us and for giving us the opportunity to serve you. Each of us at PICA will work tirelessly to continue to earn your trust. If I can help you in any way, please do not hesitate to call upon me.

Happy Thanksgiving to your families and you!

The end of another presidential election cycle has finally arrived. If you are like me, I am weary of the process. The length of the election cycle is interminable. In assuming my role as president of PICA, I recently moved from the “blue” state of Maryland to the “red” state of Tennessee. The best thing I can say about that is that the result of the election in both of these states is not in doubt. I can only imagine the television airwaves in a swing state such as Ohio or Virginia.

No matter who is elected, our president and Congress face serious challenges and decisions. Our economy struggles to gain momentum. Too many people are either unemployed or underemployed. The “fiscal cliff” looms at the end of this year unless Congress acts before December 31. Healthcare in this country consumes an ever-larger portion of the GDP and members of both parties agree that this is unsustainable. And, with partisanship seemingly at an all-time high, if you are like me, I have my doubts that our elected leaders will work together to solve these problems.

Yet, I remain optimistic. Why? Because throughout our history, our country seems to do its best when things are toughest. It seems that it takes a crisis for us to work cooperatively to solve our pressing problems. I am also optimistic that, for the first time in our profession’s history, we have the possibility of having two podiatrists elected to Congress.

I am confident that better days lay ahead. And rest assured, PICA will be here no matter what the outcome.

PICA continues to move forward to lead the podiatric malpractice industry! Over the next few weeks, each of you will be mailed a survey to fill out. The survey asks you to check the types of surgical procedures that you perform. You may be wondering, why to do we need this data?

The simple answer is to provide you better service. However, I feel that we should dig deeper into the reasons for the survey.

Over the last few years, many of you have approached me at meetings or called me on the phone to discuss surgical utilization patterns. Some of you tell me that you are doing less complicated procedures by choice as time goes on. On the other hand, as the education and training of our graduates increase across the country, some of us are devoting more of our time to more complicated procedures.

As the largest repository of foot and ankle malpractice data in the world, PICA is looking at that data from a risk standpoint. For years, PICA has spread the risk of our policyholders evenly across the podiatric surgical spectrum. We are now evaluating the continuum of comparative risks of differing types of surgical procedures that will enable us to more equitably assign premium to those risks. We ask you to fill out the survey so that our data is as accurate as possible.

PICA is committed to be the industry leader for podiatric malpractice insurance. Look for more innovative products in the near future!

I just completed an all football weekend. On Saturday, my son and I traveled to the University of Alabama game against Mississippi State University in Tuscaloosa, Alabama. On Sunday, we went to see the Indianapolis Colts play the Tennessee Titans in Nashville. Football is such a wonderful metaphor for life. Lessons learned are applicable to nearly every situation one might encounter.

Legendary Green Bay Packers coach Vince Lombardi once said, “People who work together will win, whether it be against complex football defenses or the problems of modern society.”

PICA is an incredible example of this type of collaborative effort. The PICA Policy Services, Underwriting, Claims, Risk Management and Marketing Departments work side-by-side to create the products and services that are aimed at providing malpractice coverage for podiatrists in a way that is singularly unique in the professional liability market. And, it is impossible for another carrier to duplicate this because its mission is not singularly focused on our profession.

So when you think about saving a few dollars by switching to another carrier, ask yourself: “Who would I rather have on my team?”

It is amazing to think that the 103 employees of PICA, none of whom are podiatrists except me, have such dedication to a profession that they are not a part of. Yet, that is exactly the case. However, even more impressive is the little known secret of the generosity and community spirit of the employees of PICA.

Whether it’s our support of the United Way, Meals on Wheels, the local food bank, or the American Diabetes Association, the staff at PICA is committed to helping those in our community who are less fortunate. Over our 31 year history, PICA has taken our obligation to be a good corporate citizen very seriously.

This month, the employees of PICA are participating in the American Diabetes Association’s “Step Out: Walk to Stop Diabetes” campaign. More than 25% of PICA’s employees have signed up to walk in the November 10th event in Nashville. Additionally, many more employees are supporting their colleagues with donations. The Tennessee Podiatric Medical Association has been invited to participate in this event with us. To date, we have already exceeded our goal of raising $3,000…and we have 3 weeks to go!

You can help us show that podiatry cares about curing diabetes by supporting us in this campaign by going to http://main.diabetes.org/goto/picagroup and making your donation. Let’s put an end to the epidemic of diabetes!

Baseball has always been my first love. Ever since I can remember, I wanted to be a big league ball player. And nothing got me more excited than the playoffs and World Series every October. In those days, most of the games were played during the day, so I would sneak my transistor radio (if you don’t know what that is, Google it) with its earpiece into school so I could listen to Vin Scully announce the games of my beloved Dodgers. And, what was most exciting of all was the unpredictability of the outcomes.

After watching the St. Louis Cardinals improbable come-from-behind victory against the Washington Nationals last week, it brought me right back to my youth. At the same time, it reminded me of the unpredictability of the medical malpractice environment we live in. The fact is 5% of podiatric physicians will have a malpractice claim each year. That means it’s not “if” but “when” you will need your malpractice carrier.

It’s understandable that in our current economic environment, we would look for a less expensive malpractice insurance alternative. Yet, with the unpredictability of when your next malpractice claim will occur, you can rest easier knowing that you have the best, most comprehensive, podiatry-specific legal defense available. After all, how much is your reputation worth?

 

 

“Failure is not fatal, but failure to change might be.” - Legendary UCLA Basketball Coach John Wooden

As the world changes, sometimes the hardest thing to do is to change with it. After all, change is painful and uncomfortable, right? Well, so much of our reluctance to change is rooted in our reluctance to fail. As a child, we were less driven by this fear of failure and more likely to experiment, even if it meant failing. What is it about getting older that causes us to lose this spirit of change?

So, it is in this spirit that I write to let you know PICA has joined the age of Twitter! When the idea of PICA being on Twitter was first proposed to me, my first reaction was, “Why?” The world seemed to be just fine without the need to tweet. But, in the immortal words of my 27 year-old son: “Dad, you are tragically unhip!” Not wanting to let my son get the best of me, I have thrown caution to the wind and we have taken the plunge into the 21st century. PICA is now on Twitter!

So, grab your electronic devices and follow us @PICAPods. In doing so, you, too, can be as cool as us. Who knows….it just may change your life.

 

 

Practicing in today’s healthcare climate is a challenge. Gone are the days where you saw your patients, provided superior care, billed their insurance, received payment from the insurer and balanced billed the patient the difference between your fee and what their insurance paid.

This has been replaced by convoluted managed care contracts, government regulation, billing oversight, government-hired audit contractors and state board investigations. All of this because of unscrupulous practices by a limited number of practitioners. And, in today’s world, these actions can affect your livelihood.

But, don’t despair! Your malpractice coverage with PICA also includes, at no additional charge, administrative defense coverage (ADC) which provides legal expense protection for these types of allegations and inquiries. Whether it is a Medicare audit, state board investigation, recovery audit contractor activity or improper removal from a private insurance panel, PICA stands ready to assist you. Keep in mind that your coverage is for legal representation, not including fines and penalties.

So the next time you are unfortunate enough to receive one of those letters challenging your integrity, your first move should be to call PICA. After all, who understands the realities of today’s podiatric practice better than your company of podiatrists?

 

Throughout my years on the APMA Board of Trustees, I had the opportunity to travel to many meetings, both inside and outside of the profession. One of the most unique, striking and differentiating distinctions in podiatry is a camaraderie and family atmosphere that is a trademark of our profession. This characteristic is noticeably absent at allopathic and osteopathic meetings, in my experience.

Last week, I attended the Illinois Podiatric Medical Association annual meeting outside of Chicago. My friend and incoming IPMA President, David Yeager, asked me to give a talk and I readily accepted. On the day I lectured, the IPMA held a luncheon. As part of the family atmosphere, David’s very young daughter led the singing of the national anthem. Not only was her rendition a home run, those of us who are parents could not help but notice the pride in David’s and his wife Jennifer’s eyes as they watched their daughter sing.

As I lead the next chapter of the PICA saga, I am reminded on a daily basis that PICA is part of your family. The stories from our policyholders about the impact that PICA has had on your practice life is truly heartwarming. This is exactly why PICA exists…to remain a valued member of the podiatry family. After all, if we lose this family focus, we will be just another malpractice carrier.

 

None of us ever expect to be sued. I never did. After all, I was an excellent doctor, practiced excellent medicine and communicated well with my patients. Just like you, right?

Well, I was wrong. I was sued. It was one of the most traumatic experiences of my life. At that moment, in an instant, having the most experienced legal counsel became the most important thing in my practice life.

Statistically, a podiatric physician is sued once every 20 years. Basically, it’s not a matter of “if”…it’s a matter of “when.” And when it does happen, you can draw comfort in knowing that the legal counsel PICA employs are THE most experienced, podiatry-specific malpractice lawyers in the business. In fact, the 100 attorneys employed by PICA have a collective 1,000 years of specifically defending podiatrists. Other carriers utilize general malpractice defense attorneys. PICA utilizes attorneys who speak our language.

So I ask you: When you need it most, is just adequate representation what you want?

 

 

 

Ross

PICA has always been and always will be a company “by podiatrists for podiatrists.” It’s in our DNA. And, because it is who we are, you, as a policyholder, have direct access to me, the president.

In my opinion, this is not a trivial benefit to our policyholders. I am not implying that by merely calling me you will get whatever you ask for. Rather, the value of calling me directly is that your concerns and opinions as a policyholder truly matter to us as a company and to me as president. In fact, your feedback is essential to us to remain the superior provider of malpractice insurance to podiatric physicians.

So the next time you are wondering “I really wish Ross would think of this,” pick up the phone and call me at (615) 984-2005 to let me know your thoughts. Can you name any other malpractice carrier that offers you this perk?

 

 

 

 

As a professional malpractice liability company dedicated to serving the podiatric community, PICA has always had a responsibility to give back to the podiatric profession. In fact, our very creation dictates that we have a responsibility to the profession unlike any other malpractice carrier.

You see, PICA was created by the American Podiatry Association (now the APMA) because during the late 1970’s and early 1980’s, podiatrists, like all other physicians, were finding it either impossible or cost prohibitive to purchase insurance from the commercial carriers of the day. As a continuing strategy since our inception in 1981, PICA was created “by podiatrists, for podiatrists” to make sure that we would never have to depend upon another carrier to insure us.

We have remained steadfast to that pledge, but also, to the notion that we must give back to our profession. As a result, we are proud to have given back more than $11.5 million over the last 30 years in direct sponsorship to the profession. Equally important, PICA is proud to be endorsed by the APMA, ACFAS, ACFAOM, APMSA and more than 15 state podiatric medical associations. This is a testament to the partnership between PICA and the profession.

More importantly, it is at the core of who we are.

 

 

 

 

In tough economic times, it is natural to look to save money on expenses. This is especially true with the current reality of decreasing reimbursement. And, malpractice insurance is an attractive place to look for economy. Inherent in that thought process, is the thought that you are buying the same exact thing for a lower price. Therein lays the problem with that logic.

A malpractice policy from PICA cannot be compared to one from any other competitor. Sure, you can buy similar limits of coverage. And yes, other companies will defend you if you have a claim. But, how they defend you is the PICA difference and what sets PICA apart from our competitors.

PICA is the only malpractice carrier that produces podiatry-specific risk management programs. Because PICA has the largest library of foot and ankle malpractice claims data, we are able to produce these programs on topics that are actually the source of malpractice cases.

PICA is the only malpractice company where your peers will assist you during your claim process. Every claim is reviewed by practicing podiatric physicians that understand what you are experiencing.

PICA is the only malpractice carrier that employs claims staff that dedicates their careers to serving the needs of podiatric physicians. They will be with you every step of the way during the course of your claim.

PICA is the only company that only employs defense counsel that specializes specifically in podiatric malpractice defense. In fact, the pool of PICA attorneys amounts to 1,000 years of podiatry-specific legal defense.

Sure, if you never have a malpractice claim, none of that matters. But considering that statistically 5% of practicing podiatrists will have a claim each year, are you really looking to save a few dollars when your reputation and professional livelihood is on the line?

 

 

 

 

Welcome to the first edition of the President’s Blog on our newly revamped website! I will utilize this forum to keep you, our loyal policyholders and my colleagues, apprised of what is happening at PICA. I encourage you to read these postings and to respond with comments, criticisms or suggestions. In doing so, you help me guide PICA as the industry leader in podiatric professional liability.

It has now been just over three months since I assumed the Presidency of PICA. Before Dr. Jerry Brant retired as president and CEO, I had seven months to learn from him and to travel the country and listen to you, our policyholders. I learned first-hand what you think of our company, both compliments and criticisms. Here is a summation of those interactions.

First, you appreciate that we are a company for podiatrists by podiatrists. The value of having a podiatric physician as the president of the company and of having your peers on the Underwriting, Claims and Risk Management Committees at PICA is a uniqueness not found elsewhere in the marketplace. Our podiatric-specific legal defense and the experience of our claims specialists were also cited as reasons policyholders are loyal to PICA.

Second, the longevity of PICA in the marketplace was related to me as a great strength of PICA. Many policyholders related stories of having been with other carriers that have suddenly left the market. Others talk of their leeriness of solicitations by carriers that were once in the market, then left because they had difficulty remaining profitable, only to return because the current “soft market” is an opportunity to collect premium dollars.

Lastly, I have heard policyholders talk of the current economic realities of practice: declining reimbursements, stagnant economy and uncertainty of the country’s healthcare future. The expense of malpractice insurance has been cited as a major concern as the overall expense of practice continues to rise. Additionally, many podiatric physicians are considering or have banned together into groups as a strategy to deal with these realities. As a podiatric physician who recently retired from practice, I lived each of these concerns in my own day-to-day practice life. I bring these experiences with me as the leader of PICA.

Because PICA understands these realities and because we are a podiatry-driven company, we are uniquely poised to meet these challenges and changes in healthcare. We will lead the industry with innovative products and services to meet the needs of the podiatry community. We will continue to involve podiatric policyholders in our day-to-day operations of PICA. We will continue to price our coverages in a responsible way so that we will have the resources to stand behind our policyholders with the very best claims defense in the country.

As the coming months unfold, I will discuss with you the issues that are important to you as a policyholder. If you have comments, questions or criticisms, I invite you to speak out and let me hear those concerns. Only then, can we continue to provide you with the very best products and services in the industry.