CAP-MPT Announces 5.25 Percent Price Reduction.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- The Cooperative of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Physicians-Mutual Protection Trust (CAP-MPT) has announced an overall 5.25 percent reduction in the Mutual Protection Trust assessment to cover estimated costs for the next twelve months. The lower assessment, levied on November 15, was approved by the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of MPT MPT Maryland Public Television MPT Modern Portfolio Theory (investing) MPT Ministry of Posts and Telecommunications MPT Message-Passing Toolkit MPT Master of Physical Therapy MPT Mitochondrial Permeability Transition . The decision was based on MPT's performance during the past year in two key areas: a reduction in the total number of claims, despite a net membership growth of more than 650 physicians, and a reduction in total defense costs. "It is highly unusual for a liability carrier to actually reduce its premium, or in our case, its assessment," said CAP-MPT chief executive officer James Weidner. "We were extremely effective at managing our costs during 2005, which enables us to pass our savings on to our members in the form of this assessment reduction." Weidner said that the number of claims per member decreased by 15 percent in 2005. In addition, the company was able to reduce its defense costs by effectively using pre-dispute binding arbitration arbitration Process of resolving a dispute or a grievance outside a court system by presenting it for decision to an impartial third party. Both sides in the dispute usually must agree in advance to the choice of arbitrator and certify that they will abide by the , while referring more cases to its dedicated law firm, Schmid & Voiles. Also contributing to its decrease in assessment is CAP-MPT's steady growth, which has helped the company achieve a greater spread of risk. Net growth over the past 12 months was more than 650 members. While the assessment reduction is 5.25 percent across the board, members pay different assessments based on specialty and geographical area of practice. Comparisons of the previous and current assessments are as follows:
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Specialty/Geog. Area Previous Assessment Current Assessment
(levied November 2004)
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Family Practitioner/Los
Angeles $13,650 $12,985
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Family Practitioner/San Diego $10,970 $10,457
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Family Practitioner/San Jose $8,290 $7,929
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Surgeon/Los Angeles $29,830 $28,235
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Surgeon/San Diego $28,351 $26,841
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Surgeon/San Jose $20,956 $19,868
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Obstetrician/Los Angeles $51,090 $48,285
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Obstetrician/San Diego $40,922 $38,697
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Obstetrician/San Jose $30,754 $29,109
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Traditional insurance companies charge premiums in amounts they hope will be sufficient to pay anticipated costs well into the future. Their premiums are based on assumptions about future investment earnings and the cost of malpractice malpractice, failure to provide professional services with the skill usually exhibited by responsible and careful members of the profession, resulting in injury, loss, or damage to the party contracting those services. claims among their insureds. CAP-MPT's approach to pricing is based on actual costs. In addition to a one-time deposit when a member joins, members agree to pay assessments based on estimated claims payments and defense and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. for the next 12-month period. About CAP-MPT Established in 1977, CAP-MPT today provides liability protection for the medical practices of more than 8,500 California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). physicians. Because of its rigorous underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , claims management priorities and very involved risk management programs, CAP-MPT is recognized as being one of the most successful physician-owned medical liability companies in the U.S. The A.M. Best Co. has recently reaffirmed the Mutual Protection Trust's rating of A (Excellent). Based in Los Angeles, CAP-MPT also has offices in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Orange and Mountain View, California For the census-designated place, see Mountain View, Contra Costa County, California. For other places called "Mountain View", see . Mountain View is a city in Santa Clara County, in the U.S. state of California. The city gets its name from the views of the Santa Cruz Mountains. . |
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