Members of HAPI,
For those of you who don’t know me, my name is Neil Manago. I'm an anesthesiologist in Honolulu and have been serving as chairman of the HAPI Board of Trustees since Dr. William Lau retired at the end of 2017.
Despite an increasing number of physicians seeking employment versus private or independent practice, HAPI continues to flourish. We currently have 477 members and due to the diligent work of our committees, have seen a decrease in claims and settlement experiences.
Thank you to the HAPI members who serve on the Peer Review, Claims Review, Risk Management, Investment and Board of Trustees Committees. Also, thanks to the following committee chairpersons. With their time and dedication, each committee—and therefore HAPI—remains successful:
•Dr. Stephen Oishi, Peer Review Committee
•Dr. Donn Tokairin, Claims Review Committee
•Dr. Thomas Owens, Investment Committee
•Dr. John McDonnell, Risk Management Committee
I implore more HAPI members to consider serving on one of these committees. The resulting understanding of the indemnification process is invaluable.
I would be remiss if I did not further thank HAPI Executive Vice President Norm Slaustas and our office staff, Carol and Jackie, who are the backbone of our organization. Mahalo!
Additionally, I'd like to share a few milestones:
First, HAPI has experienced an annual average return of 9.92% on its well-diversified investment portfolio (with a target of 6.5%) over the last 10 years. This is the result of collaboration between HAPI's Investment Committee and our investment consultants at East Pacific Investment Company led by Mr. Keith Gendreau.
Next, our association with CAP/MPP (covering 12,000 physicians in California) for more than 20 years has enabled HAPI to maintain a CAP associate status. This supplies you, HAPI members, with the following benefits:
•$10,000 term life insurance
•$2,000/month for 24 months disability insurance
•$50,000 CyberRisk Insurance
•$25,000 MedGuard coverage
As of 2018, CAP has also provided us online marketing, risk and practice management, discounted group purchasing, membership referral and online applications. For details, visit CAPphysicians.com/HAPI.
Finally, due to our excellent claims experience, HAPI has been able to maintain the same level of yearly assessments for almost 9 years straight! (The only exception was in 2015 when HAPI offered a 10% reduction in that year’s assessment.) With the combination of low claims experience and great investment performance, the Investment Committee and the Board of Trustees have approved a one-tme 5%reduction in assessment for its membership for this year. If we are able to keep claims and settlements low, we hope to continue to pass on lower assessment rates to our members!
Last but not least, mark your calendar for Thursday, October 24, 2019. You won't want to miss the 2019 Risk Management Meeting at the Japanese Cultural Center. Not only will you be able to enjoy a great dinner but you will hear Dr. John MacDonnell present "Lessons Learned from Closed Claims.” Also, five randomly selected attendees will each receive a $1,000 check at the end of the night—but you must be present to win.
If you have any questions or concerns, please feel free to contact Norm Slaustas or myself through the HAPI office. I hope to see you all on October 24!
Aloha,
Neil K. Manago, M.D.
Chairman, Board of HAPI
For those of you who don’t know me, my name is Neil Manago. I'm an anesthesiologist in Honolulu and have been serving as chairman of the HAPI Board of Trustees since Dr. William Lau retired at the end of 2017.
Despite an increasing number of physicians seeking employment versus private or independent practice, HAPI continues to flourish. We currently have 477 members and due to the diligent work of our committees, have seen a decrease in claims and settlement experiences.
Thank you to the HAPI members who serve on the Peer Review, Claims Review, Risk Management, Investment and Board of Trustees Committees. Also, thanks to the following committee chairpersons. With their time and dedication, each committee—and therefore HAPI—remains successful:
•Dr. Stephen Oishi, Peer Review Committee
•Dr. Donn Tokairin, Claims Review Committee
•Dr. Thomas Owens, Investment Committee
•Dr. John McDonnell, Risk Management Committee
I implore more HAPI members to consider serving on one of these committees. The resulting understanding of the indemnification process is invaluable.
I would be remiss if I did not further thank HAPI Executive Vice President Norm Slaustas and our office staff, Carol and Jackie, who are the backbone of our organization. Mahalo!
Additionally, I'd like to share a few milestones:
First, HAPI has experienced an annual average return of 9.92% on its well-diversified investment portfolio (with a target of 6.5%) over the last 10 years. This is the result of collaboration between HAPI's Investment Committee and our investment consultants at East Pacific Investment Company led by Mr. Keith Gendreau.
Next, our association with CAP/MPP (covering 12,000 physicians in California) for more than 20 years has enabled HAPI to maintain a CAP associate status. This supplies you, HAPI members, with the following benefits:
•$10,000 term life insurance
•$2,000/month for 24 months disability insurance
•$50,000 CyberRisk Insurance
•$25,000 MedGuard coverage
As of 2018, CAP has also provided us online marketing, risk and practice management, discounted group purchasing, membership referral and online applications. For details, visit CAPphysicians.com/HAPI.
Finally, due to our excellent claims experience, HAPI has been able to maintain the same level of yearly assessments for almost 9 years straight! (The only exception was in 2015 when HAPI offered a 10% reduction in that year’s assessment.) With the combination of low claims experience and great investment performance, the Investment Committee and the Board of Trustees have approved a one-tme 5%reduction in assessment for its membership for this year. If we are able to keep claims and settlements low, we hope to continue to pass on lower assessment rates to our members!
Last but not least, mark your calendar for Thursday, October 24, 2019. You won't want to miss the 2019 Risk Management Meeting at the Japanese Cultural Center. Not only will you be able to enjoy a great dinner but you will hear Dr. John MacDonnell present "Lessons Learned from Closed Claims.” Also, five randomly selected attendees will each receive a $1,000 check at the end of the night—but you must be present to win.
If you have any questions or concerns, please feel free to contact Norm Slaustas or myself through the HAPI office. I hope to see you all on October 24!
Aloha,
Neil K. Manago, M.D.
Chairman, Board of HAPI