From the category archives: Insurance Protection Blog

Urgent Care Centers

Insure Centers Focusing on The Use of Marijuana for Medical Purposes

Outpatient Centers Medical Marijuana liability Insurance

From an underwriting standpoint, surgery centers, wellness centers, outpatient facilities, urgent care centers, and aesthetic regenerative spas (also known as medi-spas) all fall into the same category of healthcare liability insurance.

 Across the country, we are also seeing growing acceptance and an ever-evolving market for medical marijuana, CBD products, cannabis dispensaries, and physicians certifying patients for medicinal use. This has led insurance carriers to study, edit, and adjust their policies faster than ever before.

One of the most common questions about medical malpractice insurance that we receive here at the Doctors Insurance Agency involves how to best insure centers focusing on the use of marijuana for medical purposes

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How to Avoid the High Cost of Tail?

Medical Clinics can purchase Medical Malpractice Policies that can provide (or offset) the cost of tail.

Often clinics (Urgent Care Centers, Internal Medicine/Primary Care Groups)  and medical groups specializing in pain management struggle with the challenge of  on-boarding physician while  promising to responsibly provide their Medical Malpractice Insurance …which is common and mandatory in order to recruit internal medicine physicians and pain management specialist physicians …but how do you afford to manage the seemingly inevitable cost of future cost of claims. 

The future cost of claims is referred to as tail insurance (which is defined as :  Tail Coverage (Extended Reporting Coverage) 
Coverage that protects the physician against all claims that arise from professional services performed while the claims-made policy was in effect, but which were reported after the termination of the policy. Some insurers offer this feature free of charge for retiring doctors who meet certain requirements

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Urgent Care Malpractice Insurance

Internal medicine is the medical specialty dealing with the prevention, diagnosis, and treatment of adult diseases. Physicians specializing in internal medicine are called internists. Family practice is also a specialty dealing with the prevention, diagnosis and treatment of adult diseases. Physicians practicing specializing in family practice are called family practice doctors. These are the definitions that I find when I look into the Internet and these are the broad categories that are used to create medical malpractice premiums,
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Developing Walk In and Urgent Care Centers

This is some information that I read (and I’m recounting here) from American Academy of Urgent Care Medicine:

The trend in developing walk in and urgent care centers is, in part, made available by medical malpractice insurance becoming more affordable for these kinds of organizations. Creating a structure that supports the 84 hour week of staffing and the unpredictable rosters are the signature of  these organizations and the difference between immediate success and a longer-term and more expensive investment.
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Which Insurance Carriers Provide Urgent Care Policies?

The Doctors’ Insurance Agency is expanding the number of urgent care centers with which we provide Medical Malpractice and Workers Compensation Insurance.

Whether our doctors are asked to work at them periodically or a group of our doctors get together to open them or a hospital is investing with  primary care doctors in the community in a joint operating agreement, the medical malpractice insurance can be tricky and often cost more than is necessary.  We can work with you and our insurance malpractice carriers to reduce the premium and contemplate the tail costs.

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The Growth and Success of Entrepreneurial Medicine- Urgent Care Centers

The start of the year often sees the beginning of new business models. And since we have become a national healthcare organization liability insurance agency, we have seen a lot of innovation in healthcare. From Florida to Washington state we see an increasing independence and partnering with mid-level providers.   I wanted to take a moment to write about urgent care centers because this is the recent area of healthcare.  Urgent care centers — walk-in medical clinics that treat minor conditions such as sprains and colds, as well as conduct imaging and blood tests — have seen significant growth in recent years. According to online news published by Becker Hospital News: Approximately 20,000 physicians practice urgent care medicine, according to the American Academy of Urgent Care Medicine -  — 94.1 percent — have at least one full-time employed physician on staff. The most common physician specialty is family medicine at 47.8 percent, followed by emergency medicine at 30 percent.
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TDC Innovates in Rating per Procedure Urgent Care Policies: Saving Urgent Care Groups Thousands in Med Mal Premiums.

Standard Medical Malpractice policies, ‘known as claims made’ policies over the years have rated insurance policies by creating premium values to each specialty; and, then the insurance companies break down the numbers further: by territory, by county, state.  There are even split rates within specialties for varying degrees of practice risk.
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