The great thing about medical malpractice insurance is that it covers you whether a medical error was actually caused by you, or if you are simply dealing with a frivolous lawsuit by a patient. All you have to do is report the issue to your insurance company and let them handle it – so you can focus on practicing medicine, and not get distracted by such matters.
Let’s explore how malpractice insurance can greatly benefit you as a skilled neurosurgeon, and where you can go to get the best medical liability insurance policy for your medical practice.
What Does Medical Malpractice Insurance Cover?
Malpractice insurance covers some or all of the costs associated with defending the healthcare provider against a malpractice lawsuit, as well as any damages that may be awarded to the plaintiff if the provider is found liable. Even if your lawyer decides to settle the case out of court with the claimant, your insurance can also provide coverage for these costs.
Malpractice and Neurosurgery
Neurosurgeons are faced with a unique set of risks among healthcare providers when it comes to malpractice, largely thanks to the high-stakes nature of neurology. A mistake made by a neurosurgeon can have serious consequences for a patient, including paralysis, brain damage, or even death.
That being said, the vast majority of neurosurgeons perform their work safely and responsibly. However, because the potential for harm is so great, it is important for neurosurgeons to have robust malpractice insurance coverage to protect them in the event of a lawsuit.
Rates of Medical Malpractice Insurance for Neurosurgeons
The financial cost of malpractice insurance for a neurosurgeon is among the highest of any medical specialty. In fact, a study published in The New England Journal of Medicine found that among the physicians surveyed who have ever had to deal with malpractice claims during their career, neurosurgeons were the most likely out of all specialties to be sued for malpractice – so their insurance rates tend to be higher.
For perspective, the average payment to the plaintiff in neurosurgery claims was over $344,000 when the study was done in 2008, which is almost $475,000 now when adjusted for inflation. Although this payment is lower than the average payment for other specialties, neurosurgeons are many times more likely to face a claim each year comparatively.
This goes to show that malpractice insurance is especially important for neurosurgeons.
Best Malpractice Insurance Policy for a Neurosurgeon
Our experienced team at eQuoteMD is here to provide neurosurgeons with the best options for finding medical liability insurance coverage with the lowest premiums and the most extensive coverage. We work with a wide variety of policies from top-rated insurers for physicians of every specialty, including neurosurgery.
We’ll help you find the best medical liability insurance policy that fits your budget while also providing the coverage you need. If you have any questions or would like to discuss your options, call us today at (855) 823-5283 to get started, or request a quote via our online form now!
