The Doctors Insurance Agency specializes in helping you obtain affordable, complete insurance protection as an independent medical director. I recently pulled a description of a medical director job posting (this from the JAMA website) (American Medical Association Affiliate)
Medical Director Job responsibilities (for which you will likely need a medical director liability insurance policy):
General Description of Medical Director Job responsibilities:
Provide clinical and quality improvement, organization leadership pertaining to the application of medical practice processes….establish protocols, best practices and incorporate changes in the current health care continuum. Support the development and implementation of projects and develop analysis for appropriate reporting formats to management. Assist in the development of medical practice presentations and publications.
Provides clinical support for patient protection, medical utilization, and quality of care reviews. These responsibilities can likely be covered by a medical malpractice (Medical Director Liability Policy underwritten by Lloyds, Admiral, RSUI, Hallmark, or another of our specialty medical malpractice professional liability insurance carriers.
Participates in the review of complex, controversial and/or unique cases as required. Solicits and evaluates advice of external medical and allied health consultants with respect to said reviews as needed. As medical Director, you’ll need the medical professional liability insurance protection to enable you to work with any and all medical experts in order to fulfill your job responsibilities of enhancing and improving patient care. These medical malpractice policies are different many malpractice policy specifically are only triggered and called into action when you have a medical service involving direct patient care. These policies are written to cover medical doctors, the role of administrators.
Recruits and leads a team of physician reviewers - The Administrative medical director liability policy includes coverage for you if you’re named for hiring a negligent physician (or a physician subsequently involved in a malpractice claim. There are occasions when the plaintiff will include the hiring committee for a ‘bad hire’ ..based on the legal theory that a reasonable physician’s committee would not have hired this practitioner.
Establishes and maintains effective communication with executive leadership and with external collaborators, partners, and stakeholders. In the instance that this communication rises level of direct provision malpractice policy can expand by way of endorsement to broaden the definition of insured and for some additional premium approaching perhaps $ 4,000 - $ 5,000 annual premium. These medical director policies can include coverage for supervision of other medical doctors and healthcare providers. The Doctors Insurance Agency is careful when submitting a medical director liability insurance application to our medical director liability underwriters to clearly spell out the difference between administrative only and a medical director just required to supervise other healthcare providers MDs, DOs or mid-levels.
Facilitates the recruitment of clinical consultants; reviews and approves all credentialing and re-credentialing applications of clinical consultants; makes recommendations to the Clinical Quality Management Council for de-credentialing of clinical consultants, as needed. Sitting on committees, approving applicants, credentialing, contracting decisions, reviewing job performance, these all carry with them the risk of inclusion in a claim of medical malpractice. The Medical Director Liability Insurance policy can protect you for this work at this organization and others.
Maintains current literature knowledge regarding health care quality improvement, health care reform and changes affecting health care systems (inpatient, ambulatory care, managed care), federal and state-based regulations, and CMS policy/procedures. Publishing QI and change initiatives can broaden your risk attractiveness (RA = likelihood of inclusion in broad malpractice insurance claims. The medical director liability policy provides the important care regardless of the facility for your level of involvement premium is not affected by the scope of administrative duties, but rather the number of contracts and the annual remuneration.
Represents company as a speaker and physician liaison at medical society, provider and hospital medical staff meetings. Similar to publishing, speaking raises your profile and similarly increases your ‘RA’ attractiveness to lawsuits.
Adheres to all relevant compliance regulations (HIPAA, URAC, FISMA, CMS). The organizations will have these internal regulatory restrictions and guidelines and as such they are insured for their compliance. As the medical director it is an important to have a standalone malpractice policy so that you have a team of attorneys help you compose an answer. Claims begin the discovery and defense necessary to that you are not held responsible
It is important when you submit your application for medical director liability insurance to include a copy of healthcare organization liability insurance for the facilities or organizations for which you are contracting.
Medical Director Liability Insurance is available for approx. $ 3,000 - $ 5,000 depending upon your scope of services or contractual requirements.