Telemedicine Specialty Care Malpractice Insurance

March 08, 2022

Telemedicine is best used to provide important and difficult-to-access specialty care. It can take weeks for an appointment with the gastroenterologist, endocrinologist, allergist, or dermatologist, but having access to affordable, reliable, and consistent telemedicine is transforming healthcare.

Access to these internal medicine subspecialties holds down the overall cost of healthcare. Private equity dollars are fueling the growth of telemedicine so as to improve and maintain the health of those who suffer from chronic conditions. This improved availability of care can serve to bridge the gap for patients who otherwise would go weeks without seeing a primary or specialty care provider.

With day-to-day and week-to-week live interactions with patients and the ability to monitor vital signs via telehealth, physicians will be able to intervene, provide a care plan, and follow up. Without leaving the office, the team of physicians and ancillary providers can coordinate the care.

In order to support this important breakthrough, you need to properly insure these organizations and physicians. Here are some important questions to consider:

        How do you insure the organization, the investors, owners, president, executives, medical doctors, mental health providers, and anyone working on their behalf?

        How do you insure against the failing of technology, which can cause bodily claims?

        How can you recruit and partner with a team of cyber security experts to help you respond to the very real threat of data breach and cyber extortion?

·        As you introduce telehealth devices – wearable devices that upload data from the end user direct to your portal for interpretation, diagnosis, and prescription – how can you insure against the failing of those products?

The Doctors Insurance Agency works with the nation’s leading Medical Malpractice Insurance carriers and consultants to help you steer your organization and manage the growth, the cost, and the risk of these new ways of practicing medicine.

Professional liability insurance covers the organization, the business entity, and all professional corporations owned by it which are used in various states to contract for services. The professional liability also covers all providers at any level working on behalf of the organization, whether employed or contracted.

The telehealth medical malpractice policy provides a rolling roster that allows for easy onboarding and offboarding of physicians, mid-level nurses, mental health counselors, and other providers. Allowing the doctors to cancel while providing ongoing cover without triggering an expensive tail policy is the key element to affordability and protection.

Network security, data breach response, and cyber extortion coverage are the hallmark elements of a comprehensive cyber liability policy. Technical liability and technical product liability are limits that are included in these policies.

Many of the contracts require high limits; we can help you obtain up to $5 million in cyber liability so you are able to meet the contractual demands of the payors for your telehealth services.

Additionally, most contracts will require general and products completed liability, which includes personal advertising injury.

And finally, $1 million up to $10 million in coverage for your directors, officers, and board members completes the health-tech insurance package.

The Doctors Insurance Agency works in this niche every day. We are energized by the changes due to this innovation in health care and we enjoy the community of our team of experts. We are ready to help you properly insure your organization.