COPIC Comment: Practice perspectives – details from our survey data

Sunday, March 01, 2015 11:39 AM

by Ted J. Clarke, MD, Chairman & CEO, COPIC Insurance Company

As physicians, we are trained to ask patients relevant questions and then listen to determine the best course of action. This holds true for the relationships COPIC has with its insureds. Understanding their challenges requires that we stay connected to how health care is evolving from different perspectives.

On a national level, the 2014 Survey of America’s Physicians conducted by The Physicians Foundation provides some interesting data:

• 72% of physicians believe there is a physician shortage, that more physicians should be trained, and the cap on funding for physician graduate medical education should be lifted.
• 85% of physicians have adopted electronic medical records.
• Physicians spend 20% of their time on non-clinical paperwork.
• The two main factors that physicians find most satisfying about their work are: patient relationships (77%) and intellectual stimulation (65%).
• Physicians cited the following factors as most likely to contribute to rising health costs: defensive medicine (60%), aging population (37%), and state and federal mandates (37%).

Every two years, COPIC conducts its own customer insight survey to gather feedback. This survey involves both insured physicians and practice administrators. It is an important tool in understanding what we are doing right and where we can make improvements. Key overall results from our 2014 survey include:

• 100% of respondents said they would “definitely” or “probably” stay with COPIC when it was time to renew their coverage.
• 100% of respondents said they would “definitely” or “probably” recommend COPIC to a colleague.
• Over 93% of interactions with COPIC were rated as “excellent” or “good.”
• Eight out of 10 respondents said that “COPIC is well above the competition and is my clear preference.”

When asked why they remain with COPIC, here’s what some respondents told us:

“I believe we have mutual loyalty. It is easy to speak with a knowledgeable person at COPIC. COPIC is more active than other malpractice insurers at providing education to reduce liability.”

“COPIC was formed during a very difficult time for physicians in Colorado. To the extent that it remains a company ‘of, by, and for’ physicians, working hard to do the right thing, I will remain with COPIC.”

“Very responsive, reliable physician and practice support. I have been an administrator for many years, and I’ve learned a lot from all of the seminars, Copiscopes, chart reviews, and discussions. COPIC is a collaborative company. Physicians feel supported and staff feel informed.”

The survey helps us understand what aspects of COPIC are most relevant to insureds. With regard to the perceived importance of COPIC programs:

• 97% of physicians and 99% of practice administrators identified maintaining a stable tort environment.
• 89% of physicians and 90% of practice administrators identified initiatives aimed at improving patient safety.
• 89% of physicians and 86% of practice administrators identified the 3Rs Program.
• 88% of physicians and 91% of practice administrators identified our risk management and patient safety seminars.

*Percentages reflect those who responded with “very valuable” or “extremely valuable” regarding the programs listed.

When asked about the cost of premiums, 97% of respondents agreed with the following statements:

• “COPIC is the best medical professional liability insurance value in the state.”
• “I believe COPIC works hard to keep my premiums as low as possible.”
• “COPIC gives me understandable information about premiums.”

COPIC remains committed to defending good medicine, resisting meritless claims, controlling and reducing expenses, and helping to prevent claims. We will continue to provide a high level of customer service and explore additional ways to support the Colorado health care community. We thank each of the respondents for taking the time to provide their valuable insight. 

One of the key messages that was echoed throughout the survey was that respondents want us to look toward the future, but remain dedicated to the ideals we were founded upon. The following comment sums it up nicely: “Focus on the core mission of COPIC and continue to deliver exceptional physician and patient-oriented service.”