My article on the ICA's malpractice insurance program1 apparently struck a nerve. While it was intended to clarify months of misinformation on the part of Chiropractic Benefit Services (CBS), it provoked a delayed response covering three pages.
Amazingly enough, the owner of CBS admitted doing something to his policyholders that the ICA was quite concerned about. The concern comes from the fact that CBS's previous insurer, Reliance, which had their ratings severely downgraded,2 was "delisted" by the New York Stock Exchange,3 and is expected to go bankrupt.4 Continuing to allow their insureds to be covered by Reliance puts CBS' policyholders in a potentially severe and completely unnecessary position.
Yet despite the ICA's expressed concern, CBS President Rondberg clearly stated:
"CBS is automatically transferring policies to our new carrier as they come up for renewal."5
Why? What is the purpose of waiting almost a year to move some of their policyholders away from an insurer whose ability to cover their claims is questionable at best?
What does CBS get out of waiting another 5-6 months to transfer the rest of its policyholders? Is it a matter of money? Is it in CBS' best financial interest to leave their policyholders hanging?
It is the ICA's position that the only reason to offer malpractice insurance is to protect practicing doctors of chiropractic and their patients. Leaving policyholders insured with a company that has been contemplating bankruptcy since last August4 falls egregiously short of that. And no matter what other comments CBS' president wants to make, that's the bottom line.
References
When sports chiropractors first appeared at the Olympic Games in the 1980s, it was alongside individual athletes who had experienced the benefits of chiropractic care in their training and recovery processes at home. Fast forward to Paris 2024, where chiropractic care was available in the polyclinic for all athletes, and the attitude has now evolved to recognize that “every athlete deserves access to sports chiropractic."
It is estimated that 61% of patients with CTS avoid taking surgical options due to postoperative complications and costly surgical procedures. Chiropractic care offers a comprehensive and effective treatment for carpal tunnel syndrome, addressing the condition from multiple angles. Recent studies also have unveiled a game-changing adjunct to chiropractic treatments for CTS: nerve flossing.
Some doctors thrive in a personality-based clinic and have a loyal following no matter what services or equipment they offer, but for most chiropractic offices who are trying to grow and expand, new equipment purchases help us stay relevant and continue to service our client base in the best, most up-to-date manner possible. So, regarding equipment purchasing: should you lease, get a bank loan, or pay cash?
