Anesthesiologist Medical Malpractice Insurance
Anesthesiologists used to pay as much for medical malpractice insurance as some surgical specialties. With the continued focus of the American Society of Anesthesia Risk Management efforts, and the work of hospital chairs, county and local medical societies and groups, as well as the hard work of the medical malpractice insurance companies, the collective malpractice loss experience has diminished. Specifically, frequency is down, thereby reducing the total dollars spent on claims in the state of California and beyond. The specialty itself still trends very high on per claim amount spent and the number of claims that pay out over 1 Million, and the overall experience of losses is down. It’s probably as risky as an OBGYN’s work.
Anesthesiologists experience high-risk operations every day. They are responsible for discerning anesthesia and apply it before, during and after an operation providing extremely important and delicate scientific care to the patient.
Therefore, it is important for anesthesiologists' to have more than just a premium collecting trust or other alternative insurance solution, It is important to research the options and understand the total services offered by medical malpractice insurance companies. Know the effectiveness of the risk and claims management teams.
Anesthesiology Medical Malpractice Insurance & Risk Management Relationship
The Doctors Company puts so much effort into the risk management solution, we have more risk managers than any other insurance company. These risk managers are carefully coached, selected and trained to build upon their strong legal and medical backgrounds. Our goal is to help our physicians avoid being named in a claim.
While some events are unavoidable, other risks can be buffered by studying the results of other closed claims across the country and tapping into the vast wealth of resources available to The Doctors Company (because of our 25 year commitment to the specialty) we can teach our physicians how to avoid claims. For example, if a patient has never been administered anesthesia before, there is no history to review that may provide clues on how they will react to certain medications. On the other hand a patient who does have a history to review can give a clearer picture on any potential negative reactions and risks.
The Doctors Insurance Agency also works with specialty Carriers to help you obtain billing and business liability insurance. With the mandate to use Electronic Medical Records or EMR, anesthesiologists have another important tool to use in their practice to ensure the safety of the patients they work with and also lower the risk of their medical malpractice insurance company.
If you are just out of training, there are significant discounts, reducing the annual premiums.
We recognize the work that goes in, and the level of attention to detail during this extensive training. This training also allows anesthesiologists to produce the highest quality of patient care available. Physicians are covered by the hospital where they are completing their residency.
Some Anesthesiologists will venture into Pain Management, this is a very closely related specialty and requires an additional one year fellowship.
The medical malpractice insurance coverage that Anesthesiologists purchase should account for the vicarious liability connecting their practice to the work of Certified Nurse Anesthetists. Nearly all hospitals and surgery centers employ CRNA’s. CRNA’s work in conjunction with the anesthesiologist to deliver medical care. CRNA’s do not have as much medical training as an anesthesiologist, which is why they are required to have a supervising physician at all times.
Anesthesiology Medical Malpractice Insurance Rates
Anesthesiology Medical Malpractice Insurance cost can be expensive and, lately, the cost has been much more manageable, the premiums are on par with that of Internal and primary care physicians. There is, however more exposure to the surgical arena, and that carries with it the chance for increased frequency. In light of the frequency of claims made against anesthesiologists, it is important to maintain sufficient Anesthesiology Medical Malpractice Insurance coverage.
The Doctors Insurance Agency works with anesthesiologists nationwide; we work with the familiar and knowledgeable underwriters at The Doctors Company, and in some other states, similarly structured, physician owned companies to implement available discounts.
If an anesthesiologist is an employee of the hospital, they usually pick up the cost of your medical malpractice insurance. If an anesthesiologist is not a hospital employee, but work with a practice that has hospital privileges, the practice usually picks up the costs. If the anesthesiologist is a subcontractor who has hospital privileges, the anesthesiologist pick up the costs of the medical malpractice insurance.
Don't let one malpractice claim ruin the countless hours and resources that you have invested in your practice.
For more information regarding anesthesiology medical malpractice insurance, contact us or fill out the form to receive a your free, no obligation customized anesthesiology malpractice insurance quote.