Telemedicine visits have become increasingly common across medical specialties since the COVID-19 pandemic. While this kind of healthcare has its pluses and minuses, creating unique telemedicine malpractice insurance coverage risks.
Let’s examine the telemedicine malpractice insurance coverage you need to make sure you, your practice, and your financial security are protected.
What is Telehealth Medical Malpractice Insurance?
Telehealth medicine malpractice insurance protects healthcare providers who offer services remotely through telecommunication technology, such as a tablet, computer, or smartphone. Just as with in-person healthcare, malpractice claims may arise from telemedicine consultations.
What Are the Particular Liability Risks Associated with Telemedicine?
Telemedicine offers many benefits, including patient convenience, quick transmission of health records, and remote monitoring of pertinent diagnostic data. However, telemedicine also presents unique liability risks for the healthcare provider, including:
Technical Difficulties
Telemedicine relies heavily on digital technology. Any technical difficulties or malfunctions can lead to missed appointments, misdiagnoses, and other medical errors, which could result in a malpractice claim.
Lack of Physical Examination
Without an in-person physical examination, a provider can miss important signs or symptoms which may affect the diagnosis and treatment plan. Plus, a physician simply cannot do routine tests, such as urinalysis or blood work, remotely.
Privacy and Security Breaches and Licensing Requirements
Telehealth platforms are vulnerable to data breaches and hacking incidents. These can compromise patient confidentiality and result in legal consequences for the provider.
Additionally, healthcare providers must be sure they are licensed within the state where they are physically located and in the states where their patients live. For instance, a doctor in New York treating a Pennsylvania patient via telehealth visit must be licensed to practice medicine in both states. With proper licensure, a provider can avoid legal action and potential loss of the right to practice.
Besides the above-stated liability risks for healthcare providers across the nation, states such as Florida are considered to be high-risk practice areas. Dade, Broward, and Palm Beach County are especially risky due to the numerous medical malpractice claims filed annually in those areas. As such, healthcare providers in Florida should carry malpractice insurance that conforms to certain state-specific standards.
What Medical Malpractice Insurance Options Should a Telemedicine Provider Have?
Telemedicine providers in high-risk states, such as Florida, need adequate medical malpractice telehealth insurance coverage to protect themselves from potential lawsuits. There are several options for telemedicine providers to consider when choosing a medical malpractice insurance policy.
Occurrence-based Coverage
This coverage protects the provider from incidents which happened during the policy period, regardless of when the claim is actually filed. This means that if a claim is filed after the policy expires, it will still be covered as long as the incident occurred while the policy was active.
Claims-made Coverage
Unlike occurrence-based coverage, claims-made policies only cover claims that are made and reported during the policy period. This means that if a claim is made after the policy expires, it will not be covered.
This type of insurance is usually less expensive than occurrence-based coverage. However, it comes with the risk of not being covered for incidents that occurred during the policy period but were not reported.
Tail Coverage
Tail coverage is an addition to a claims-made policy. Tail coverage extends the reporting period for claims after the policy has expired. This can be especially important for telemedicine providers who may have a lag in reporting incidents due to patients receiving care remotely.
Cyber Liability and Data Breach Coverage
With the increasing use of technology in healthcare, telemedicine providers are at risk for cyber-attacks and data breaches. Cyber liability and data breach coverage protects against financial losses resulting from these types of events.
Best Telemedicine Malpractice Insurance Coverage
At eQuoteMD, we specialize in finding the best medical malpractice insurance for providers in every medical specialty in every state. We understand the unique risks of telemedicine and will recommend the coverage options you need for the best protection at the best price.
We work only with A++ insurance companies, so you are guaranteed quality protection, which makes sense for you, your employees, your specialty, and your patients.
To learn more about your telehealth options, call eQuoteMD in St. Louis, MO, today at (855) 823-5283. You also may request a complimentary insurance quote here. Let our experts work with you to give you the peace of mind and protection you need.
