Guidelines for investigating medical errors softened



Guidelines for investigating medical errors released yesterday are more lenient than draft proposals submitted to the Federal National Council last year. Under the procedures put out by the Minister of Health, Hanif Hassan, patients will be required to submit all complaints in writing. The statement must include the patient's name, address, phone number and the name of the medical facility where the alleged error occurred. Patients can submit their complaints to the hospital or clinic involved, to the health authority, to the police or to the public prosecutor's office, according to the state news agency, WAM.

Complaints can also be issued on behalf of a patient by a parent, guardian or member of the family. Patients, doctors and nurses have the right to file complaints. Once a complaint has been submitted to a health institution, an internal committee will be set up to investigate. If the committee deems the complaint to be valid, it will be responsible for reporting the error to the health authority.

The guidelines fall far short of earlier suggestions to form a Higher Medical Liability Committee independent of the Ministry of Health to investigate claims of error and malpractice. A draft of stricter proposals was submitted to the FNC in December that threatened doctors with potential criminal charges in cases of medical negligence. It also suggested that independent bodies be established in every hospital to examine each death that occurs.

That draft law was widely criticised by doctors for being too vague, and for failing to separate criminal and civil sanctions. Last year, the Health Authority-Abu Dhabi introduced a new complaints process stipulating that accusations of medical malpractice and error be sent overseas to be reviewed by independent doctors. jgerson@thenational.ae

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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