Orthopedic Surgeons Medical Malpractice Rates Vary Based on a Number of Factors

February 25, 2020

The Doctors Insurance Agency provides Medical Malpractice Insurance for Orthopedic Surgeons and Surgery Groups.

Orthopedic Surgeons Groups specialize in surgery of the shoulder, knee, hip, ankle, hand, wrist, and spine. Many also include physical therapy, imaging, pain management, and even psychotherapy to assist their patients to return to full mobility and strength.

Medical Malpractice Insurance rates vary based on a number of factors. There are different rates for surgeons that specialize in a particular area, such as shoulders, hips, knees, or hand surgery only, and other rates for consultations only. The rates that apply to your physicians can be discounted by carefully considering protocol and the division of procedures among the surgeons within the group.

Orthopedic surgeons are board-certified in their respective areas, and some have certificates or added qualifications in sports medicine and hand surgery. These certifications can also help orthopedic surgeons qualify for lower medical malpractice premiums.

Orthopedists treat any and all disorders of the musculoskeletal system, including those that are congenital, developmental, traumatic, and degenerative in nature. Therefore, medical malpractice policies need to consider telemedicine consultation, psychotherapy, pain management, and even primary care, as well as facilities that provide imaging and physical therapy.

Full-time surgeons-only health care is evolving, with groups providing different services and requiring a policy that not only provides the proper liability insurance for orthopedic surgeons but also is flexible enough to help recruit and on board shareholder partner physicians. Policies should be flexible so that they're able to write retroactive coverage over states' different carriers so that purchasing tail is not an obstacle to bringing new physicians into your practice If they have to cancel before the contemplated term, your malpractice policy can provide a significantly discounted tail by adding a former insured endorsement.

Undiscounted tail providing indefinite coverage for an orthopedic surgeon can be close to $100000. A former insured endorsement not only provides a refreshed limit each year but also can discount the cost of tail by up to 40%. It can be the difference between a profitable year with a strong recruiting path and plan forward, or not.

In addition to former insured endorsements, The Doctors Insurance Agency can help you develop a policy that allows for a roster of orthopedic surgeons providing consultations only thru telemedicine, or conventional clinical consultations as well.

If you have a surgery center, there is an opportunity to provide a higher aggregate and per claim limit, which would be sufficient to cover the surgery center, imaging center, and the entity at the physical therapy, as well as physicians working as contractors or employees for the group.

Furthermore, adding an auxiliary position or prodeant header gives you the flexibility of training fellows or even trying out a physician to see if they are a good fit with your group as you carefully grow.

The Doctors Insurance Agency, working with The Doctor's Company, has over 30 years of experience with all kinds of specialized medical insurance. Contact us if you need more information or have any questions.