From the category archives: Insurance Protection Blog

Medical Malpractice

Nephrology Medical Professional Liability Policies

Nephrology Medical Professional Liability Policies

If you are working in a nephrology group, there are a few important issues you should consider to reduce your overall cost of managing medical professional liability insurance.

The first issue is the matter of medical directorship. Nephrology groups will sometimes have responsibilities to serve as medical directors at dialysis centers (there are also medical foundations with ownership interests in dialysis centers.) Additionally, medical directors can present at outpatient clinics and hospitals.

Medical malpractice insurance policies normally carry a separate limit protecting the healthcare organization employees and non-medical doctor providers, these entity policies can extend and be endorsed to include coverage for medical director work.

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Patient Safety in Telemedicine and Cyber Liability

Telemedicine is defined as the remote delivery of healthcare services, whether they are medical consultations using videoconferencing, mobile apps, store and forward technology offering health assessments or lifestyle counseling. Technology can assist in the delivery of information and shorten the distance between the patient and the provider. Telemedicine can be classified into three main categories: remote patient monitoring, store and forward or interactive communication. Each of these has their own different risk profiles. 

Here are some examples of claims involving Telemedicine...

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Convenience Drives Many Patients to Try Tlemedicine

A survey last year found that a quarter of adults in the United States don’t have a regular doctor. Some are wondering if they need one at all. Telemedicine can provide much of what conventional visits to clinics provide without the hassle of leaving work. taking time off, and struggling with traffic.

Healthcare experts say that the changing fragmented nature of healthcare is why people still need someone to help them navigate their healthcare. This is the traditional role of primary care physicians like family doctors, but arguably those health care providers do not always need face-to-face visits to do their job and to do it well.

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Orthopedic Surgical Practice pay Some of the Highest Malpractice Premiums in the Country

 Orthopedic surgeons across the country who are engaged in conventional clinical surgical practice pay some of the highest malpractice premiums in the country. We are often asked what we, as national brokers and agents for some of the best malpractice insurance companies in the country, can do to reduce premiums.

There are creative insurance company programs that are not always easy to find, but they are available. The Doctors Insurance Agency specializes in Medical Malpractice Insurance for Orthopedic Surgeons.

We work with surgeons and practice administrators. The profile of the practice specifically means that you represent to the underwriters which doctors are focusing on which type of surgeries. We plan risk management activities that are designed to bring patient safety specialists to the group for presentations, some of which qualify for continuing medical education units

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Tail Insurance for your Medical Malpractice Policy

Whether you are trying to insure a small facility like an independent imaging center or a  Medi-Spa, you are an innovative physician working for an institution and you are driven to do something different creative and scientific, so you’ve start your own clinical research organization, or if you are an individual physician working infrequently as an itinerant locum tenens, you’ll need Medical Malpractice Professional Liability Insurance. How claims are handled by your insurance is an important issue to resolve. It’s about two things: the cost of medical malpractice insurance now, and the cost to protect you for the work you do now in the future. This latter concept is widely misunderstood, but easily solved: Tail Insurance.
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Orthopedic Surgery Insurance by The Doctors' Insurance Agency

Orthopedic Surgeons are selling their practices to join hospital or larger multispecialty group models :

Many physicians surveyed practicing in Orthopedic Surgery believe that you're going to see more doctors joining hospital model vertical integrated healthcare practices: 

There are a few  things driving this percentage up right now. A culmination of financial pressures in the market over the past two years has driven reimbursement down.

Orthopedic surgeons in a small practice (under four to six surgeons) are finding it extremely difficult to financially support a practice. 

I think another factor is  the continued trend to centralize and automate :  Electronic medical records and other requirements under healthcare legislation are going to be impossible for small groups to handle when they are already under such pressure right now. These physicians will be driven to an employed model instead of a large group practice because they've been in a small group for a while and they don't see advantages to larger groups. They think they won't be able to improve their position.

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Aesthetic, Med Director, Consulting Professional Liability Insurance

Aesthetic, Med Director, Consulting - Niche liability is one of the problems for dermatologists, plastic surgeons, and family practitioners when considering insurance needs.

Understandably, there are many restrictions on clinical medical malpractice policies. Those policies are restricted to the location and to a particular type of work. There are vicarious liability risks that rise for a healthcare organization when physicians who are contracted to do clinical work take on contractual commitments outside of that organization.

Whether you are doing work at a Surgery Center,  infrequent Telemedicine consultations, hospitalist work, Medical Expert Witness, or utilization review, each of these jobs carries its own unique liability. They can all be covered by one policy, or you can take an individual silo approach to finding niche-oriented liability.

A common question that we often hear from specialties such as dermatology, plastic surgery, otolaryngology, and family practice is

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Why to choose Strong Medical Malpractice Insurance Carriers?

In a recent article from a national respected insurance broker, I read about the demise of specific and lightly-financed Insurance Solutions for Medical Professional Liability, referred to as risk retention groups.

Full disclosure: we believe there is a place for risk retention groups in the market. Just because one of them does not make it and has to be rescued, or the policy holders have to leave them, it does not mean that all coverage is lost and all claims are exposed, resulting in the insured Physicians losing personal assets. That would only happen in the event of an open and pending claim, or if a new insurance company was unwilling to write retroactive coverage.

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Hospitalist Groups are One of the Fastest-Growing areas within the Massive Health Care Economy

There is a common feeling about Hospitalist Medical Groups that they do not form sufficient physician-patient relationships and that as placeholders in the sensitive chain of providing delicate and artful healthcare this would be a way to encourage disappointment, frustration, and mistakes resulting in professional liability claims against hospitalist groups. 
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How do malpractice Insurance Carriers develop Individual Physician Claims Made Premium Rates?

Regardless of whether you are an independent aesthetician, a contracted  mid level provider, a telemedicine consultant  physician or are managing a healthcare facility, the costs of maintaining (and leaving) your medical professional liability insurance policy is a big business challenge (often one of the most significant challenges faced by our clients and policyholders).

Tail Insurance in medical malpractice insurance might be avoided and the premium savings can total into the thousands.

The ongoing ‘real time’ cost of insurance is tough, the state in which you practice can make or break the premium amount.  And, the untold story of potentially higher (lasting costs) of medical professional liability insurance is :  TAIL.  The price you pay to cover you going forward for the services you provided in the past.

There are ways around paying for tail; without a skilled insurance agent, broker or a creative group administrator, you could unnecessarily pay 50 – 75 % more than necessary

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