Company recognized by MGMA for its years of service and for its Silver Anniversary as a corporate member
SALT LAKE CITY – (March 26, 2013) – For its more than 40 years of experience serving physicians, The MGIS Companies (MGIS) was recognized by the Medical Group Management Association (MGMA) in March for 25 years as an MGMA Corporate Member. MGIS is the nation’s leading provider of insurance products and services specifically for physicians. MGMA is the nation’s principal voice for the nation’s medical group practice profession.
“Our Association appreciates MGIS’ record twenty-five years of service to our members and is pleased with the continued support from our MGMA affiliates,” said Susan L. Turney, MD, MS, FACMPE, FACP, MGMA-ACMPE president and CEO. “Especially at such a critical time in our history, it’s great to continue to work with organizations so committed to assisting medical practice professionals in numerous and innovative ways.”
Jeff Brunken, president of MGIS, notes that since its founding in 1969, the company has seen not only major historical events, but also significant changes in the healthcare industry.
“We’ve served our clients throughout revolutionary changes in healthcare. During the ‘70s, group practice formation gained momentum. The ‘80s and ‘90s brought managed care and more complex medical-group structures. The Affordable Care Act (ACA) today is the latest shift in this continuous healthcare industry evolution,” noted Brunken. “Through it all, we’ve never lost focus on who we are serving – physicians in group practice. Our job is to anticipate and meet our clients’ needs in a changing and at times uncertain marketplace.”
The history of MGIS has paralleled not only key changes in healthcare, but also other milestones in our nation’s history, including:
1969 – Neil Armstrong walks on the moon.
- MGIS founded by Dale Brunken.
- MGIS develops the first physician-group disability policy and introduces it to the marketplace.
1970s – The nation celebrates its bicentennial.
- Group practices, independent practice associations and other groups begin to take hold, drastically changing the physician marketplace.
- MGIS partners with MGMA for the first time and continues to broaden its disability products, helping it to achieve near-record growth in the 1970s.
1980s – The hostage crisis in Iran, rising gas prices and a historic win by the U.S. hockey team lead off the decade.
- Managed care, specifically the use of utilization review and quality assurance, brings new challenges and increasing oversight for the nation’s physicians.
- MGIS adds a specialized claims unit and doubles its workforce.
1990s – Al Gore “invents” the internet, dot-coms explode and Wall Street begins to drive massive mergers and acquisitions within the healthcare industry.
- MGIS pioneers modern billing capabilities to accommodate emerging complex physician practice structures and insurance needs.
2000s – Mobile technologies begin to revolutionize every aspect of American life. The nation debates, but finally passes the ACA.
- Physicians struggle to adapt to new regulatory and administrative burdens.
- MGIS retools its systems and processes to meet the needs of enterprise systems becoming one of the most technically advanced physician-specific insurance providers in the nation.
Today – Merger & Acquisition activity within the healthcare industry is accelerating. Technology adoption among physicians is growing. New practice models such as ACOs, PCMH, concierge medicine and others are growing in order to provide a higher level of personalized medicine.
- MGIS expands its scope into medical professional liability (MPL) to build out its platform of top quality flexible and sophisticated coverages for emerging larger groups and health systems.
- In an era marked by insurance company closings and mergers, MGIS continues to be the most stable provider of physician insurance products in the market by harnessing the financial strength of only A+-rated carriers.
“Adapting to change, flexibility and a focus on our clients’ needs have been secrets to our success,” notes Brunken. “As a company that has already seen the physician practice industry go through many changes – more than any other insurance organization serving physicians today – we are optimistic about the future for physicians and medical groups. We have all survived significant changes in the past and we will all do so again.”
The MGIS Companies, Inc. is the nation’s leading provider of insurance products and services specifically for physicians. For more than 44 years the company has provided specialized group disability insurance, medical-professional liability insurance, and practice improvement ancillary products and services to more than 10,000 physician groups, 900,000 group members, and 300,000 physicians nationwide. The MGIS group disability policies are backed by Sun Life Financial®, one of the largest and highest-rated insurance companies in North America. The MGIS medical-professional liability insurance policies are backed by Freedom Specialty Insurance Company, a Nationwide® Company, rated A+ (Superior) by A.M. Best. With a rich tradition of service excellence, MGIS works exclusively through local brokers and benefit advisors to provide the ultimate in personalized, physician-focused insurance services. For more information visit our website mgis.com.
Scott Public Relations