2007 international conference washington, d.c. ~ november 7-9, 2007 beat the clock! new hopes and...
TRANSCRIPT
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Washington, D.C. ~ November 7-9, 2007
2007 International 2007 International ConferenceConference
Beat the Clock! Beat the Clock! New Hopes and Risks in New Hopes and Risks in
Anti-Aging MedicineAnti-Aging Medicine
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Beat The Clock! Beat The Clock! Panel MembersPanel Members
MODERATOR: Ron Rumin, Vice President Worldwide Facilities
Cynthia Hine, Vice President Hylant Group
Nancy Huddlestun, AVP & Senior Underwriter General Star
Kathleen Johnson, Senior Claims Attorney Shand Morahan & Company
Edward Kuhn, Owner & Agent Liability Insurance Solutions
Dr. Charles Turner, Owner & Practitioner Innovative Medicine
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Good MorningGood Morning
The goal for this morning is to better understand the fastest growing
segment in the healthcare arena…
Medi-Spas
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Origin of Medi-SpasOrigin of Medi-Spas
5 years ago Medi-Spas were
unheard of…
Today, it is the new Starbucks…
there is one on every corner
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BOTOX BabeBOTOX Babe
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Types of Medi-SpasTypes of Medi-Spas
There are 3 basic categories of Medi-Spas:
1. Aesthetics / Cosmetic SpasBotox InjectionsDermal Fillers / CreamsLasersChemical Peels and MicrodermabrasionCellulite TreatmentsContour threadlifts
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Types of Medi-SpasTypes of Medi-Spas(cont’d)(cont’d)
2. Wellness/Preventative Medicine SpasHealthy Aging
Stress Management Smoking CessationWeight ManagementDisease ScreeningExerciseImmunizations
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Types of Medi-SpasTypes of Medi-Spas(cont’d)(cont’d)
3. Anti-Aging/Alternative Medicine
Nutritional Supplements
Ayurvedic Therapies
Biomagnetic Therapy
Acupuncture
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Underwriting the RiskUnderwriting the Risk
How is this new type of “Facility” changing the way Underwriters
underwrite?
Key underwriting considerations• Medical Director• Documents • Procedures• Who are the practitioners?
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Underwriting the RiskUnderwriting the Risk(cont’d)(cont’d)
Claims View When Underwriting• Documentation• What types of procedures? • Who performs them?• How are they credentialed?
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Prospective Insureds & the Prospective Insureds & the PL Marketplace PL Marketplace
• Who are the prospective Insureds?
• Overview of the Professional Liability marketplace for these accounts
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What is a viable What is a viable Medi-Spa Account?Medi-Spa Account?
• What are the markets willing to write? Medical Director Only
• Physician vs. Non-Physician Owned
True Medi-Spa Integrative Practice
• Physicians in Transition
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Claims PerspectivesClaims Perspectives
• What types of claims are Medi-Spas generating? Burns Hyperpigmentation To the extreme: Death Cases
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Just a Fad, Just a Fad, or or
Here to Stay??Here to Stay??
What’s the future? Crystal ball time
Market saturation
Financial issues
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Open ForumOpen Forum
What do YOU think?
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Thank you for ComingThank you for Coming
Special “Thank You” to the
Panel Members
Who participated today