APMA News - May 2011 - (Page 48)

A PICA and Podiatric Medicine: Family Ties Run Deep PICA’s focus on podiatric medicine has been a major factor in its successful claims standards. Active practitioners serve as advisors on medical issues, and the company’s Claims Committee is composed of practicing podiatrists. A panel of specifically approved and seasoned defense counsel represents policyholders when necessary. For claims ultimately litigated in the courts, PICA has consistently won 75 to 85 percent of those cases. Practicing podiatrists serve on risk management, claims, and underwriting committees and as independent podiatric consultants as part of PICA’s claims review process. In fact, PICA’s president and CEO, Jerry Brant, DPM, is a podiatrist. The company’s 15-member advisory board includes 11 podiatrists. As a leader in the podiatric medical profession, PICA uses its experience and knowledge to provide special benefits to policyholders. The Practice Enrichment for Podiatrists (PEP) series adds a new benefit for policyholders. Experts in operations, strategic planning and implementation, valuation, operational analysis and implementation, health information technology, and health-care economics provide seminars, webinars, and articles and are available for private consultations. Although you may not call PICA family, the company’s ties to podiatric medicine run deep. PICA’s roots with APMA go back more than 30 years to a time when other insurers were abandoning podiatrists at an epidemic rate. PICA has remained a company unconditionally devoted to the podiatric medical profession. PICA will continue to support the podiatric profession, maintain a strong and stable financial business structure, and offer quality coverage at a fair price. PICA recently renewed its financial commitment to APMA and has been a Corporate Partner since 1995. PICA has supported the APMA Annual Scientific Meeting since 1994. The company offers attendees at The National its largest discount—15 percent—when they attend the risk management programming built into the educational program. In addition to its unwavering support for the association and its endeavors, PICA invests in the future of podiatric medicine by providing scholarships to defray tuition costs for students’ podiatric medical education. Recently, PICA and ProAssurance, PICA’s parent company, provided a $250,000 endowment fund to APMA for podiatric medical schools. PICA and ProAssurance are Visionary Benefactors, donating a total of $500,000 to the APMA Educational Foundation scholarship program since 1997. PICA not only provides scholarships to students, but provides support to various student events throughout the year. Additionally, PICA financially supports the American Podiatric Medical Students’ Association, and is the founding partner of the APMA Young Members’ Program. APMA gratefully acknowledges PICA’s longstanding commitment to the profession and encourages its members to support PICA, as well. n s family ties run deep, so do the ties between APMA and PICA. PICA was founded by APMA with the mission of providing podiatric malpractice insurance. In 1976, malpractice insurance premiums for podiatrists went up 900 percent to $3,000. The American Podiatry Association (now APMA) Insurance Committee and individual podiatrists began planning a company dedicated to the medical malpractice needs of podiatrists. The Podiatry Insurance Company of America (PICA) was incorporated in Tennessee in May 1980 and offered its first podiatric policies in January of 1981. During the first month, PICA sold 703 policies, and the policy count reached 800 by the end of the first year. The development, founding, and capitalization of a professional liability company devoted to podiatrists resulted from a tremendous effort by many physicians. There were immense legal considerations as well as many insurance regulations to navigate. The success of PICA is due to the key decisions and commitment of APMA officers, PICA board members and officers, and practicing podiatrists. More than 30 years later, the relationship between APMA and PICA continues. PICA is endorsed by APMA as the medical malpractice insurance provider of choice. The guiding principles that were established for PICA at its inception are still essential to the company’s success today. Those include providing support for the podiatric profession, maintaining a strong and stable financial structure, and offering quality coverage at a fair price. PICA’s dedication to podiatric medicine goes beyond providing insurance. PICA continues to be the nation’s leading provider of professional liability insurance for podiatric physicians in the United States, while supporting and enhancing members of the podiatric medical profession in every aspect of their practices. PICA offers a variety of pertinent and timely risk management programs, outstanding customer service, and expert claims handling. Risk management is a critical part of PICA’s mission to support the business and practice needs of policyholders. As a result, PICA strives to identify risk issues that can seriously affect patient care and cause financial loss for policyholders. The company provides policyholders with risk management education and other resources to allow them to recognize potential risks and implement strategies to reduce those risks. Risk management lectures are provided several times a year in conjunction with various conferences. Policyholders may obtain a discount on their policy premium renewals by attending a PICA risk management lecture or by participating in a PICA home study course. PICA also provides risk management publications, tools, and forms to policyholders. PICA prides itself on the quality of its claims staff. On average, PICA’s professional staff has 16 years experience in the insurance industry and 11 years experience in handling podiatric professional liability claims. 48 APMA News May 2011

Table of Contents for the Digital Edition of APMA News - May 2011

APMA News - May 2011
President’s Message
Contents
APMA Educational Foundation Annual Giving Campaign
91st House of Delegates: Focused on the Future
Roth: To Convert or Not to Convert?
Surgical Workshops at The National Offer Hands-on Instruction
Annual Scientific Meeting Preliminary Program
Annual Scientific Meeting Registration Form
Annual Scientific Meeting Sponsors
PICA and Podiatric Medicine: Family Ties Run Deep
Attaining Parity in California
Affordable Care Act, One Year Later: Part One
Reimbursement
Members Who Know Media
Technofile
Young Voices
Small Business 101
In Short
APMA Out and About
Worthy of Note
APMAPAC Update
Affiliates Corner
Insurance Advisor
Development Update
New and Deceased Members
2011 Call for Awards Nominations
Classified Advertising
Dates to Remember
Advertising Index

APMA News - May 2011