Starting the Process of Medical Malpractice Insurance for Telemedicine Doctors, Midlevels and Organizations

Where do you  start to apply for and obtain Medical Malpractice Insurance if you are going to practice telemedicine.

Start by listing the Telemedicine Organization address and describe your niche, describe the medical service that your innovation is bringing.
The underwriters need some ‘data points’ to assign a premium to your telemedicine organization.

The organization is the Named Insured, or as I like to call it, the anchor of the medical malpractice insurance policy;  From this ‘center’ of the policy, the insurance carriers build, sort of from the inside out:  they consider the total number of telehealth consultations provided by your physicians and mid levels,
the type of medical service,  the location of the physician and the location of the patient and the annual revenue.

The Telemedicine Medical Malpractice (or medical professional liability insurance policy) will cover silent owners, either medical doctors or laypeople (and the industry has many technology executives serving in management and recruitment roles for medical telehealth organizations; it is important to have a liability insurance policy that gives the technology investors and managers the assurance that they are included in the medical malpractice policy..
all former past and present owners officers and directors (including the medical director) are included in these broad forms of insurance contracts.

Relatively Low Deductible:

The policy will have a minimum premium and a relatively low deductible (considering that some deductibles can be as high as $ 15,000, the telemedicine deductibles are usually $ 5,000) with premiums as low as $ 4,000 to 7,500 (depending upon your anticipated number of annual consultations and annual revenue projected.

Providing coverage for the entity (a broad professional liability form which includes employed non M.D. personnel, owners, directors, and mid level providers;  the policies also provide coverage for Medical Directors (another important future because many times, especially in the early years of a telemedicine organization’s lifespan, medical directors switch; and these policies allow you to substitute one for another, without triggering a tail premium (and no lapse in the ongoing coverage for any Medical Director who has served in that role.  Essentially, these broad medical malpractice policy forms written just for telemedicine organizations include tail.

The premium is ‘true’ which is to say it is developed by counting consultations and revenue not physicians;  Having a flexible, experienced underwriting team working on your telemedicine liability insurance application, counting just the medical service, measuring the annual revenue from those medical telehealth services and not adding premium (and the ensuing tail encumbrance) for each added medical doctor, can bee the difference between success and failure; the annual premium for these telemedicine policies can remain at under $ 10,000 annual premium while providing your healthcare organization with important insurance protection with tail included for your carefully recruited medical doctors;

Assuring them proper protection and tail to cover future claims from a stable and committed carrier will be a large part of your success.

The Doctors’ Insurance Agency is expert at working with our production team at negotiating these details of coverage so that you are not buried under the expense and weight and commitment of applying for and securing insurance for each of your physicians.


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