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Now days, our doctors are facing steadily rising medical malpractice premiums, which have led them to seek alternative source apart from the traditional policies and services provided by large independentcommercial insurance companies. 

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What is Captive Insurance? Captive insurance companies are insurance companies established with the specific objective of insuring risks emanating from their parent group or groups, but they sometimes also insure risks of the group's customers.  This is an alternative form of risk management that is becoming a more practical and popular means through which companies can protect themselves financially while having more control over how they are insured.

Doctors ACO is seeking innovative solutions to save $ for our ACO Physicians.  Captive Insurance is one of the ways that our physicians can save tremendous amount of money in their medical malpractice premiums.  Doctors ACO believes “Captive Insurance” is an economical way for doctors to have malpractice insurance.  For instance, as the captive's owner, the insured physician can be directly involved in major decisions made by captive regarding underwriting, investment policies, claim management, and quality improvement.

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1. Status of Doctors ACO

We’re pleased to announce that the Medicare Shared Saving Program (MSSP) application for Doctors ACO has been submitted and we received receipt verification from the Centers for Medicare Services (CMS).

As of today in Doctors ACO:

  • 140   Physicians - Combined  Georgia/Ohio total
  • 55 Medical Practices
  • 26   Mid-Level Providers

2. If you have missed the deadline

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BOYNTON BEACH — 

Horror stories of medical costs gone wild abound in South Florida, such as a $40,000 list of charges for a two-day hospital stay to check out a Boynton Beach man’s muscle bruise. His wife called that “ridiculous.”

But 29 groups of doctors across the country have received bonuses for lowering costs to taxpayers while keeping patients happy — and two based in Palm Beach County accounted for one in eight dollars nationally in savings shared with Medicare.

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The Accountable Care Organization (ACO) model was introduced by the government in 2011 to save Medicare future.  We are excited to form an independent physicians owned Accountable Care Organization in our community to reduce waste and control healthcare costs.  What is an ACO? ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated high quality care to their Medicare patients.  The purpose of this program is to take responsibility for providing quality healthcare and controlling healthcare waste in our communities. 

Accountable Care Organization is an experiment from CMS to save Medicare’s future.  This experiment has been successful as quoted by Patrick Conway, the chief medical officer for Medicare, who said, "On 15 out of 15 quality measures, [ACOs] did better than national benchmarks, as well as on four out of four patient satisfaction benchmarks." Twenty-nine of those ACOs saved enough to generate bonus payments totalling $126 million.  In addition, the ACOs generated $128 million in net savings for Medicare's trust fund. This concept may turn out to be the idea which can save the future of Medicare and ensure high quality health care for our seniors. (https://www.cms.gov/Newsroom/MediaReleaseDatabase/Press-releases/2014-Press-releases-items/2014-01-30.html). 

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