Board Member Profile
Theodore M. Kanellakes, MD
A board-certified physician in both allergy/immunology and internal medicine, Dr. Ted Kanellakes hails from Joliet. He received his medical degree from Loyola University, Stritch School of Medicine, Chicago. He completed his internal medicine residency at St. Louis University Hospitals, and a
fellowship in allergy/immunology at the University of Michigan, Ann Arbor. A long-time member of organized medicine, Dr. Kanellakes is former president of the Will-Grundy Medical Society and is current vice president of the Illinois State Medical Society.
An ISMIE policyholder since the company’s founding, Dr. Kanellakes currently serves on the organization’s Risk Management and Investment Committees.
How has ISMIE maintained its strength and respected reputation since 1976?
Our physician board members are extremely committed to the policyholders and the survival of the company. We have deep understanding of company operations and are actively engaged in various committees. The diversity of the board and its broad range of experience also contribute to ISMIE’s success. Members come from solo and group practices and from a wide variety of specialties and backgrounds. The board partners with ISMIE’s administrative team to assure the company’s longevity in the market and the respect it has earned in the insurance industry, the business world and the legislative arena.
Why is it important for doctors to maintain a unified voice on issues like tort reform?
Physicians are the guardians of quality of care, advocates for patients and protectors of our professional ethics. We cannot allow outsiders to intrude, violate or compromise our ethical obligations and responsibilities. Only if we speak with a collective voice can we succeed and conquer any challenge that lies ahead for our profession. ISMIE was founded due to a liability
crisis, and today another liability crisis threatens our profession and our patients. Other threats to practice survival and access to patient care are the flawed Medicare payment formula and the current challenge by trial lawyers to our 2005 tort reform law.
How does ISMIE help doctors navigate the litigation environment?
Through the evaluation of claims data, ISMIE has identified the risks that precipitate lawsuits and has used this knowledge to develop guidelines to assist policyholders with avoiding these
pitfalls. The Risk Management Committee, working in concert with our professional risk management staff, guides the development and implementation of workshops, seminars and office assessment programs to help physicians manage their practice risk. It’s heartening to note that more and more policyholders take advantage of these opportunities. And their evaluations indicate they are very satisfied with our endeavors.
What are the most gratifying aspects of your involvement as a board member?
Serving on the board is an ongoing education, and my work on the Risk Management and Investment Committees is very rewarding. The Investment Committee’s charge is to invest premium dollars to achieve a return that can pay current and future claims and operational expenses. Because of solid investment returns and decreased claims frequency, the new dividend program was initiated and premiums are holding steady. The bottom line with both committees is to keep premiums affordable.
I’m proud to have been present at ISMIE’s inception. ISMIE came into being thanks to the dedication of the physicians of the Illinois State Medical Society. All physicians must speak with a common voice on socio-economic issues that challenge their profession. With the continuing commitment of physicians, ISMIE will persevere and be a great company.