Maintaining Financial Responsibility

This Self-Insurance Medical Malpractice program for Hospital-based group practices in Florida:

:: Satisfies all State Licensing, and Hospital / Medical Staff financial responsibility requirements

:: Eliminates placing the dreaded "going bare" disclosure in the office

:: Eliminates successful claims of fraudlent transfers when doing asset protection

:: Preserves integrity of the homestead exemption which had been lost to to the new Bankruptcy Legislation passed in October 2005

:: Eliminates the total group practice Medical Malpractice Insurance premium and capitates legal fee expenses

Others offer a form of asset protection that involves "going bare" in an attempt to completely eliminate any liability on a Florida Physician for malpractice. This presents some moral issues for Doctors and Physicians. Beyond that, there is significant risk that without the physician meeting the proper financial responsibility requirements, all of the assets could still be at risk in a lawsuit. Of course, doctors could continue to pay for malpractice insurance while performing asset protection as well, which does not really address the problem of paying to much for medical malpractice insurance.

The Self-Insurance Medical Malpractice Program:

:: Is Consistent with Physician Autonomy Program

:: Takes Homestead out of the reach of the Bankruptcy Laws

:: Florida Statute 458.320(2)(a) allows for an escrow which can be capitalized by either an annuity or cash value life insurance structure to supplant traditional commercial malpractice coverage.

:: All hospitals who accept Florida Medicaid must accept this method, which is virtually every acute care hospital in the state.

"...The money paid for premiums were just killing our practice. With reimbursement from 3rd party pay declining, it was imperative that we find an alternative. Going bare wasn’t the answer. The escrow system saved us and our patients."
-- Ka Hock Dy Go, M.D. - Boyton Beach, Fl.


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