Company News...Winter 2006


WORKERS COMP FUND RETURNS $2.7 MILLION IN SURPLUS
Synernet Workers Compensation Fund members recently enjoyed a return in premium totaling $2,750,000, the largest surplus return in the Fund’s history! Since the Fund’s inception in 1991, the self-insured trust has returned over $12.3 million to its members, nearly 30% of the premium collected.

“The Synernet Workers’ Compensation Fund has been a very successful program for our hospital,” states Dana Kempton, Chief Financial Officer at Redington-Fairview General Hospital, and Chairman of the Fund. “By working closely with the other 15 hospitals in the program, we have been able to reduce injuries to our employees, and have enjoyed significant reductions in our workers’ compensation costs.”

The self-insured trust’s success is due to a focus on worker safety, reducing workplace injuries, and early return to work of injured workers.

The Fund holds monthly loss control meetings which provide a forum to explore loss reduction strategies and to network with other hospitals’ loss control representatives. This collaborative effort has helped the Fund achieve strong results.

The Synernet Workers’ Compensation Fund, founded in 1991, is currently one of the longest standing group self-insurance programs in Maine, covering sixteen hospitals. Its current membership consists of:

• Calais Regional Hospital
• Down East Community Hospital
• Franklin Memorial Hospital
• Goodall Hospital
• Maine Coast Memorial Hospital
• Mayo Regional Hospital
• Mount Desert Island Hospital
• Millinocket Regional Hospital
• Northern Maine Medical Center
• Northeast Health (Pen Bay Hospital)
• Parkview Adventist Medical Center
• Penobscot Valley Hospital
• Redington-Fairview General Hospital
• St. Joseph Hospital
• Waldo County General Hospital
• York Hospital

PINE TREE INSURANCE PROVIDES HOSPITALS WITH THE BENEFITS OF SELF-INSURANCE FOR MALPRACTICE AND PROFESSIONAL LIABILITY
Why Consider Joining a Reciprocal Risk Retention Group?

The high cost of commercial malpractice insurance, the uncertainty of continual availability of coverage in the commercial market, and the risk of poor claim information reporting are just a few reasons why you should learn more about Pine Tree Insurance, A Reciprocal Risk Retention Group. Rather than pay high insurance premiums to a commercial insurance provider, subscribers of Pine Tree Insurance enjoy the benefits of self-insurance. Subscribers exercise control of annual funding requirements, claims administration and a greater focus on risk management. In the long run, your hospital can save money through benefits of ownership that will include the sharing of any earned surplus.

Who is Eligible to be a Subscriber and What is Involved?

If you represent a non-profit, New England hospital that wants to reduce the cost of malpractice insurance and improve its ability to manage risk, and you are interested in a long-term commitment to success, then your hospital may be interested in learning more about Pine Tree.

A hospital that satisfies Pine Tree’s underwriting guidelines and qualifies as a subscriber will be asked to have a representative of senior management serve on the Pine Tree Subscribers’ Advisory Committee. In this capacity, the representative will be involved in developing policies and approving renewals, business relationships and administration.

As a subscriber, a hospital’s internal risk manager will serve on the Risk Management Advisory Group. This group is responsible for developing common procedures, working together to reduce risk for the overall group, and managing claims. In short, subscribers of Pine Tree have more direct influence on their risk, and ultimately on their ability to lower their costs.

Current Subscribers

Subscribers include: Goodall Hospital, Sanford, ME; Northern Maine Medical Center, Fort Kent, ME; Penobscot Bay Medical Center, Rockport, ME; and St. Joseph Hospital, Bangor, ME.

At present, Pine Tree Insurance provides a comprehensive policy that delivers first dollar professional and general liability coverage for claims in excess of $3,000 to its subscribers and to their employed physicians and professional staff.

For non-profit hospitals, a reciprocal can be a tax-efficient mechanism as annual profits are allocated among policyholders and retained in subscriber savings accounts.

Our Strategy is to Reduce the Cost of Healthcare

As a Pine Tree subscriber:

• You earn any profits that would otherwise go to a commercial carrier;
• You can take advantage of the tax-exempt status of your own organization;
• You will have access to medical malpractice insurance;
• You can reduce the volatility of insurance costs;
• You can increase control over claims administration;
• Your organization can improve risk management information;
• You can take advantage of peer interaction with other risk managers.

STERILIZER SERVICE NOW AVAILABLE TO HOSPITALS AND PHYSICIAN OFFICES
Did you know that Synernet’s clinical engineering service offers a sterilizer preventive and corrective maintenance program for Amsco/Steris sterilizers? The program provides exceptional service, technical expertise and savings and includes:

• Time and materials or service contract options
• Asset management
• Competitive labor rates
• De-installation
• Aftermarket unit and/or parts sourcing

Our highly trained biomedical engineering team has over 80 years of collective experience in servicing medical equipment
This service is currently available in southern Maine at this time; it will soon be expanded to other regions.
To learn more or receive a quote on a service program that is tailored to meet your specific needs, call Mike Hutchins at 207-761-0030 or mhutchins@synernet.net .

In addition, Synernet will be able to offer site licenses to CVO customers that will allow facility use of the other components of Medical Staff Office for Windows (MSOW) on a password protected basis. These include tracking meeting attendance, staff leadership, CME’s and in-house credentialing tasks through customized checklists. Purchasing a site license will eliminate redundant data entry, allow access to scanned expirables eliminating filing as well as facilitating management of privileges and approvals.

Whether or not a site license is purchased, the individual facility privilege forms can be built in MSOW to permit online privilege requests. Customers can evaluate their current forms for conversion. A more concise, consolidated approach works best for online privilege management. CVO staff can assist in this project, if requested.

The CVO is also continuing to move to paperless file transfer and storage. Customers appreciate having the option of accessing their scanned records on FileBound 24/7. Customers can navigate their own FileBound web space. Having your own web space allows you to add hospital specific documents to those already scanned by the CVO, thereby eliminating filing and resulting in a complete online record. Maine Medical Center is currently using FileBound in this manner.
FMI about Synernet CVO services, please contact Cheryl Schilke, Director, at cschilke@synernet.net or 207-771-3489 ext. 2100.

Learn the do’s and don’ts of paper and electronic documentation during an interactive workshop on Friday, October 13th from 8:30 a.m. – 3:00 p.m. at the Knox Center, in Rockland, Maine. Thorough nursing documentation is critical in defending medical malpractice cases. Nurses face a myriad of documentation challenges as they move into the electronic age of the 21st century.

The afternoon session will focus on head to toe skin and wound assessment and documentation. This session will incorporate case studies and strategies for assessing and documenting changes in the patient’s skin or wound integrity. Lou Ann Alberg, BS, RN, WCC will present the afternoon session. She is a wound care certified clinical resource specialist with ConvaTec.

TThe program is being sponsored by Pine Tree Insurance, A Reciprocal Risk Retention Group. Pine Tree Insurance currently provides a comprehensive policy for professional and general liability coverage to not-for-profit hospitals in New England..

There is no cost to attend; however, pre-registration is required. To register, contact Debbie Comeau at 207-771-3456 or dcomeau@synernet.net. Please provide your name, hospital name, address, phone and email address. Space is limited to register today!