COPIC Comment: COPIC celebrates 30 years

Monday, September 01, 2014 12:48 PM

A strong foundation that supports improved medicine

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

I first became insured by COPIC in 1996 as a young orthopedic surgeon. Back then, I viewed my coverage as a “necessary expense” and had little knowledge about it. I was focused on my medical practice without fully recognizing the ways medical liability issues could influence how I practiced medicine.

As my involvement with COPIC grew, so did my appreciation for its history. I came to understand how the company emerged out of a crisis that threatened health care in Colorado, how the courage of a few led to a better option for many, and how a noble mission paved a path that others would follow.

In the early 1980s, national insurance carriers decided to leave Colorado or imposed substantial price increases on existing insureds. The business decisions of carriers were impacting the delivery of care in a negative way and something had to be done. Under a shared affiliation with the Colorado Medical Society, a group of physicians came together to address the problem. They realized that the best way to predict the future was to create it, and set forth to build a company that redefined the medical liability landscape in Colorado.

When COPIC became a fully licensed and regulated Colorado insurance company in 1984, it was an invention out of necessity. The founders had a vision to create an entity that would ensure a stable medical liability environment, embrace a physician-directed approach, and put the interests of improving health care before financial profits. As the years passed, COPIC continued its focus on rate stability and expanded into a company that emphasizes and invests in patient safety and risk management.

Some of our milestones in the last 30 years include:

• 1985 – COPIC Financial Service Group was formed to provide a broad range of personal and professional insurance and financial products for the health care community.
• Early 1990s – COPIC begins to offer educational seminars and workshops designed to improve communication and workflow among medical teams, and our Practice Quality nurse reviewers launch a program to visit all of our insured, office-based practices every two years.
• 2002 – COPIC develops Level One Guidelines designed to reduce systems failures, improve documentation, and ultimately reduce avoidable adverse outcomes.
• 2007 – COPIC’s 3Rs Program (Recognize, Respond and Resolve) is recognized by The New England Journal of Medicine as part of the national transformation in how health care providers communicate with patients about unexpected outcomes.
• 2014 – COPIC receives initial accreditation by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing medical education for physicians.

In addition to COPIC’s commitment to insureds, we also realized our role in health care allowed us to contribute on a larger level. Whether it is funding grants that improve patient safety or removing financial burdens for volunteer physicians, COPIC has embraced opportunities to make a difference in several ways:

• 1992 – COPIC Medical Foundation was created to provide grant funding for programs and initiatives that improve patient safety and quality of care.
• 1996 – COPIC begins offering medical professional liability insurance at no charge to eligible physicians who provide uncompensated medical care.
• 2010 – COPIC’s weeklong residency program for medical students surpasses more than 160 annual participants who attend sessions focused on patient safety and medical liability issues.

Another key factor in COPIC’s success and longevity is the partnership we have with CMS. From the beginning, CMS was an integral part of our formation and provided much-needed support. The benefits of the COPIC and CMS partnership are evident today in the public policy and advocacy work that occurs year-round to protect tort reform and monitor legislative issues that impact health care in Colorado.

As I look back over the last 30 years, there is a sense of pride in knowing that COPIC’s original ideals remain strong to this day. We owe much to the group of individuals who founded the company, and there is a responsibility to carry on the legacy they started. COPIC has become more than just an insurance company – we are a critical partner in serving and protecting health care professionals in the delivery of better medicine.