Malpractice insurance is a must-have for all healthcare providers, including dentists. These vital healthcare providers get sued at the rate of three to five suits throughout the course of their professional careers. Sounds scary? Here’s more on why lawsuits happen and what you can do to protect your livelihood, your license, and your hard-earned reputation.
What’s Your Dental Practice Worth?
Frankly, it’s worth a lot in terms of the income you make, the assets you own, the equipment you use, the luxuries you can afford, and the livelihood you provide to your assistants, office staff, and hygienists. Each year, you provide invaluable services to children, teens, adults, and seniors in the communities you serve.
However, all that financial and personal benefit–as well as your license to practice and your reputation–can be swept away in just one dental malpractice suit won by an injured or even simply disgruntled patient. Whether a crown was poorly fitted, an abscessed root missed, or anesthesia administered improperly, you and your dental practice can be substantially impacted for the long-term if you are not protected and you have to pay out of pocket:
- Legal and court fees (attorney’s fees, arbitration costs, settlements, judgments)
- Lost wages
- Pain and suffering liability
- Medical payments to harmed patients
- Costs of property damage to clinic equipment
Getting Medical Malpractice Insurance Is a Valuable Investment
Medical malpractice insurance may cost less than you would expect.
Most license jurisdictions throughout the United States require dentists to carry medical malpractice insurance. Policies and costs vary according to the dentist’s location, the type of dentistry practiced, the services offered (including anesthesia and higher-risk treatments such as endodontics), and more.
The National Institutes of Health (NIH) reports pain and suffering, failure to correctly diagnose dental conditions, improperly administered oral anesthesia, and other complaints find their way into malpractice lawsuits involving dentists. Monetary awards and settlements can be substantial, and dentists may have to use their savings to pay damages.
So, it’s wise to consult with a medical malpractice insurance broker–not a single carrier–to determine your specific risks and liabilities and what coverage and coverage limits ($1 million per occurrence and $3 million annual aggregate are the most common) would serve your needs. Also, the right insurance carrier will assist you in dental practice standards of care to reduce the chances of malpractice liability and subsequent malpractice suits.
Dental Malpractice Insurance in California
In California and across the United States, eQuoteMD protects the assets, incomes, and reputation of numerous practicing dentists. We believe it is in our clients’ best interests to “shop” our A-list carriers for affordable rates, comprehensive coverage, and outstanding customer service.
To learn more about what dental malpractice insurance policy suits you and your practice, call us today at (855) 857-8746 or request a complimentary insurance quote online. We are here to protect you and give you the peace of mind you deserve.