Tamara Fountain to Chair OMIC Board in 2014
The OMIC Board of Directors has elected Tamara R. Fountain, MD, as Chair effective January 1, 2014. She succeeds John W. Shore, MD, who has reached the maximum number of years of service allowed under OMIC’s bylaws.
Dr. Fountain joined OMIC’s Board of Directors in 2007 after serving six years as a committee member. She has chaired the Strategic Planning, Marketing, and Risk Management Committees and currently serves on the Executive Committee as OMIC Secretary. In addition, Dr. Fountain has held several leadership positions within the American Academy of Ophthalmology.
Recognizing the significant contributions of Dr. Shore during his nearly 30 years of leadership within ophthalmology, she said, “We are navigating the changes in healthcare better than many other specialties because of the years of service of dedicated ophthalmologists like Dr. Shore who have led our company during many of our most successful years. I pledge every effort to continue to meet such high standards during my service as OMIC’s Chair.”
Dr. Fountain graduated with a BA from Stanford University and an MD from Harvard Medical School. After completing a residency in ophthalmology at Johns Hopkins’ Wilmer Eye Institute, she pursued fellowship training in oculoplastic surgery at Doheny Eye Institute of the University of Southern California. A professor of ophthalmology at Rush University Medical Center in Chicago, Illinois, Dr. Fountain maintains a private practice in oculofacial plastics at Rush and in the Chicago suburb of Deerfield. She resides in Northbrook with her two children, Natalie and Nicholas.
Surcharge Eliminated for Cosmetic Procedures
At its May meeting, the OMIC Board of Directors voted to eliminate the premium surcharge for ophthalmologists who perform facelift, rhinoplasty, and full body liposuction for policies effective on or after May 1, 2013. The decision was based upon favorable underwriting and claims data tracked by OMIC since the company first approved coverage for these procedures over 15 years ago.
During a recent retrospective review of OMIC-specific and industry-wide claims data, it became evident that the risk exposure for these cosmetic procedures was lower than expected and that OMIC’s experience outperformed that of the industry. Only one claim and two incidents involving facelift procedures have been reported to OMIC since 1997. All three were resolved without indemnity and total expenses paid were $698. Two claims involving liposuction were reported against OMIC-insured physicians. One closed without indemnity and the other settled for $150,000. Expenses for the two claims totaled $24,715. A third claim involving liposuction was brought against an OMIC-insured surgery center for a procedure performed by an open-access member. No rhinoplasty claims have been reported to OMIC to date.
Cosmetic surgery has become safer in the past decade thanks to new “minimally-invasive,” “non-invasive,” or “non-surgical” techniques that carry significantly less risk than more traditional techniques. Continuing medical education courses have given ophthalmologists desiring to add these procedures to their practice the skills and training necessary to do so successfully.
Elimination of the surcharge means that ophthalmologists who perform facelift, rhinoplasty, and total body liposuction will now pay the same rate for professional liability coverage through OMIC as their colleagues who limit their surgery to traditional ophthalmic procedures. This rate is far below what a plastic surgeon, otolaryngologist, or other specialist must pay for similar coverage.
A Fund for Risk Management Studies
The OMIC Board of Directors has unanimously approved an initial donation of $50,000 toward establishment of the Bruce E. Spivey, MD, Fund for Risk Management Studies. This is the latest collaborative effort between OMIC and the American Academy of Ophthalmology to further their shared goals of risk reduction for ophthalmologists and improved ophthalmic care for patients.
The Spivey Fund will operate within the Academy Foundation’s H. Dunbar Hoskins Jr., MD, Center for Quality Eye Care. The Hoskins Center will manage funds for projects determined by OMIC and the Academy to be consistent with their risk management and patient safety goals. OMIC will combine its extensive claims database and risk management knowledge with the Hoskins Center’s expertise in issue analysis and outcomes measurements. This potent combination of experience and expertise will be useful in developing evidence-based resources and tools for ophthalmologists that improve patient care and minimize the risk of lawsuits.
A highlight of the fund will be the “Bruce E. Spivey, MD, Lecture in Risk Management and Patient Safety.” This will be an annual lecture at the Academy’s annual meeting co-sponsored by OMIC and the Hoskins Center. Susan H. Day, MD, a pediatric ophthalmologist in San Francisco, CA, will be this year’s guest lecturer. In addition to serving as Academy president in 2005 and holding numerous other Academy leadership positions, Dr. Day was an OMIC board and committee member from 1996 through 2008. She is also past president of the American Association of Pediatric Ophthalmology and Strabismus. Dr. Day is currently Chair and Program Director for the Department of Ophthalmology at California Pacific Medical Center, a position Dr. Spivey held himself for many years.
Denise Chamblee, MD selected for the Academy’s Leadership Development Program (LDP) XV
OMIC Board Member Denise Chamblee, MD was recognized at the American Academy of Ophthalmology’s Joint Meeting with the Asia Pacific Academy of Ophthalmology in Chicago for her selection to the Academy’s Leadership Development Program XV, Class of 2013. Dr. Chamblee was nominated by OMIC to join a select group of twenty participants chosen from among a large group nominated by state, subspecialty and specialized interest societies. The class also includes one international from Vietnam who is jointly representing the Asia Pacific Academy of Ophthalmology and the Vietnam Ophthalmology Society. The incoming LDP class had an Orientation Session in Orlando where they were introduced to their classmates as well as heard project presentations from the graduating LDP XIV, class of 2012.
In January 2013, Dr. Chamblee will take part in a 2 ½ day interactive session in San Francisco with a visit to AAO headquarters to hear from AAO physician leadership on a wide variety of leadership topics. Next will be a trip in April 2013 to attend the AAO’s Mid-Year Forum in Washington D.C. where she will have scheduled visits with Senators and Representatives to discuss issues important to the medical profession. During an advocacy session dedicated to LDP XV participants , Dr. Chamblee will also hear from a member of the US Congress and key health staff about building effective relationships with legislators and how best to advocate on behalf of patients. The final LDP session for the class of 2013 will take place in conjunction with the Academy’s Annual Meeting in New Orleans.
OMIC Declares 20% Policyholder Dividend
OMIC recently announced a 20% policyholder dividend credit for all active physician insureds on December 31, 2012. The premium credit, averaging approximately $2,000 per insured, is the seventh dividend credit in eight years. OMIC has declared nearly $40 Million in dividend credits since 1987.
OMIC has been able to offer one of the most generous dividend programs in the industry because of conservative underwriting and above average claims defense performance. Ask your OMIC representative about the many ways OMIC outperforms its peers.
