WEBVTT 1 00:00:00.120 --> 00:00:01.260 Hi, I'm Bill McDonough. 2 00:00:01.260 --> 00:00:03.960 I'm a CEO of an insurance company called Constellation. 3 00:00:03.960 --> 00:00:05.570 We deal with healthcare, hospitals, 4 00:00:05.570 --> 00:00:08.010 doctors, healthcare providers. 5 00:00:08.010 --> 00:00:10.470 What we do is we provide medical malpractice insurance, 6 00:00:10.470 --> 00:00:12.300 line:15% so if something goes wrong, 7 00:00:12.300 --> 00:00:16.310 line:15% if there's an unexpected event and they're sued, 8 00:00:16.310 --> 00:00:19.120 line:15% we not only defend them but we also, 9 00:00:19.120 --> 00:00:21.780 line:15% we protect their reputation, but more importantly 10 00:00:21.780 --> 00:00:24.320 what we do is deal with the stress of the situation. 11 00:00:24.320 --> 00:00:27.530 So, we look to take care of the providers, 12 00:00:27.530 --> 00:00:29.960 the physicians, but also the injured patients. 13 00:00:29.960 --> 00:00:33.000 Providing leadership is the most important thing, 14 00:00:33.000 --> 00:00:35.820 line:15% providing a strategic direction for the organization, 15 00:00:35.820 --> 00:00:39.070 line:15% but probably a cheerleader more than anything else. 16 00:00:39.070 --> 00:00:41.400 line:15% Trying to keep people motivated. 17 00:00:41.400 --> 00:00:43.290 line:15% You know, I've been in this business a long time, 18 00:00:43.290 --> 00:00:47.100 so I know what people are dealing with, and it's difficult. 19 00:00:47.100 --> 00:00:48.550 Physicians and healthcare providers 20 00:00:48.550 --> 00:00:52.480 are under enormous stress and so that stress is transferred. 21 00:00:52.480 --> 00:00:54.130 So a lot of it is trying to help 22 00:00:54.130 --> 00:00:55.970 provide support and direction. 23 00:00:55.970 --> 00:00:58.370 Yeah, there's enormous uncertainty right now in healthcare, 24 00:00:58.370 --> 00:01:00.710 so physicians, in particular, 25 00:01:00.710 --> 00:01:03.320 and nurses are feeling that stress. 26 00:01:03.320 --> 00:01:05.970 Healthcare institutions, there's an uncertain time, 27 00:01:05.970 --> 00:01:07.840 they don't know about reimbursement 28 00:01:07.840 --> 00:01:10.710 and so costs are an issue and so just imagine 29 00:01:10.710 --> 00:01:12.420 line:15% if you're going to the doctor's office 30 00:01:12.420 --> 00:01:14.940 line:15% and you're used to having a 20 minute appointment, 31 00:01:14.940 --> 00:01:16.400 line:15% and now you've got 10 minutes. 32 00:01:16.400 --> 00:01:19.000 line:15% So a physician has to try to understand 33 00:01:19.000 --> 00:01:20.610 line:15% what's going on with patients, 34 00:01:20.610 --> 00:01:23.650 try to diagnose that patient in 10 minutes or less. 35 00:01:23.650 --> 00:01:25.600 And that's enormously stressful. 36 00:01:25.600 --> 00:01:27.700 So they're seeing more patients, 37 00:01:27.700 --> 00:01:29.830 they're dealing with more complex issues, 38 00:01:29.830 --> 00:01:32.820 they're dealing with people from all over the world 39 00:01:32.820 --> 00:01:36.000 so language is an issue, education is an issue, 40 00:01:36.000 --> 00:01:38.310 so there's enormous stresses. 41 00:01:38.310 --> 00:01:40.490 So we've got a leadership team, 42 00:01:40.490 --> 00:01:42.590 and when I talk about direction that's really 43 00:01:42.590 --> 00:01:44.240 from a financial standpoint to make sure 44 00:01:44.240 --> 00:01:46.630 the company's sound and moving forward 45 00:01:46.630 --> 00:01:49.580 but also what are those services that we can provide. 46 00:01:49.580 --> 00:01:51.490 Healthcare is changing dramatically, 47 00:01:51.490 --> 00:01:53.790 and how can we help to provide support. 48 00:01:54.640 --> 00:01:58.720 line:15% One thing, as an example, would be litigation support. 49 00:01:58.720 --> 00:02:02.210 line:15% So when a physician or a nurse or somebody is sued, 50 00:02:02.210 --> 00:02:04.590 line:15% it's a very personal event, you know. 51 00:02:04.590 --> 00:02:05.880 Their credibility is challenged, 52 00:02:05.880 --> 00:02:08.400 their training and education is being challenged. 53 00:02:08.400 --> 00:02:10.350 They don't know how long the litigation process takes, 54 00:02:10.350 --> 00:02:11.750 sometimes it's years. 55 00:02:11.750 --> 00:02:14.480 So we provide a psychiatrist or a psychologist 56 00:02:14.480 --> 00:02:16.090 to meet with them on a regular basis 57 00:02:16.090 --> 00:02:19.540 and help them understand, help them through the process. 58 00:02:19.540 --> 00:02:22.370 And also work with injured patients to try to 59 00:02:22.370 --> 00:02:24.920 put their lives together to the extent that we can.