Insuring the Tele Radiology Organization

February 07, 2023

 The Doctors Insurance Agency is a national Healthcare Liability Insurance Broker for Organizations and Providers.

We insure hundreds of MDs for individual Medical Professional Liability Insurance. Naturally, these professional liability insurance policies include the entities and organizations.

Telemedicine Insuranceis one of our agency's specialties—a  targeted class.

Radiology is one of the first specialties that really applied well to the use of technology…allowing radiology services to be delivered to remote (previously) difficult to provide locations.

 As technology improves and changes the way that radiology services are delivered, the medical professional liability policies have to change to accommodate and properly cover these providers and organizations. The policies need to include claims of bodily injury resulting from technical failures as well as professional failures. 

The Doctors Insurance Agency custom telehealth liability policies do just that. A brief review of the efficiency of a telemedicine insurance policy is here:

 We committed to the telehealth niche for over 20 years ago when we placed our first Tele radiology medical malpractice policy. That process allowed us to quickly learn the unique dynamics of managing pricing, budgeting, and underwriting for a telemedicine/radiology group. 

Insuring a tele radiology group requires a carrier and national broker partner that is committed and competitive with an understanding of the need for:

▪︎ easy onboarding of providers

▪︎ manageable incremental premium costs to insure your organization growth

▪︎ a roster or slot endorsement concept that provides adequate limits for each physician 

Tele radiology refers to the practice of a radiologist interpreting medical images while not physically present in the location where the images are generated. Hospitals, mobile imaging companies, urgent care facilities, and even some private practices utilize tele radiology. 

The Doctors Insurance Agency can help sustainably insure individual tele-radiologists—and tele radiology organizations, by providing professional liability policies  that cover all providers working on their behalf. 

The main idea behind the use of tele radiology is to enable more affordable  pay—on a per exam basis. Reducing the cost of healthcare to as low as $8 per exam is revolutionary;

tele radiology encourages providers to practice ‘side gigs’.

Radiologists can work with organizations from their remote work sites, increasing access to other physicians and patients.  

Patient care is improved by tele-radiology.

The technology makes it possible for radiologists to provide their services without needing to be in the same location as the patient. That is especially important whenever a sub-specialist like a musculoskeletal radiologist, pediatric radiologist, neuro radiologist, or MRI radiologist is needed, given that usually these professionals work in large metropolitan areas during day hours. Tele radiology makes it possible to have access to trained specialists on a 24/7 basis.

With this growing demand for radiologists and expansion to interstate, 24/7 business models come with some liability insurance challenges. 

The insurance plan for your growing tele radiology group should reflect those cost savings. 

The Medical Malpractice Insurance plans save money primarily by developing premium-using variables that measure the actual exposure in ‘units’. This is different from developing premium simply by counting the number of medical doctors. Building a policy with a roster of providers covered allows for easy onboarding without significant incremental cost changes and provides for tail when they cancel off of the policy.

 The variables that measure the actual exposure in ‘units’ develops a premium that is accurate and more affordable.

For radiology groups, that is:

▪︎counting estimated number of tele radiology reads

▪︎ breaking down the projected number by state▪︎including the organization’s projected annual revenue.

This rating methodology results in affordable premiums… and supports a policy that includes a roster blanket physician endorsement.