Did you know that approximately 19,000 medical malpractice cases occur in the U.S. every year? Regardless of how professionally you conduct your healthcare practice, it is still susceptible to false – or, in some cases, legitimate – patient claims, which is why having medical malpractice insurance is a necessity. Let’s talk about why it is
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How a Lack of Malpractice Insurance Endangers Both Doctors and Patients
Medical malpractice insurance isn’t just a nice thing for a doctor to have – it’s absolutely vital for both doctors and patients. Medical liability insurance protects both the doctor and patient in the unlikely event of an accident leading to a patient’s injury during or due to medical treatment. A lack of this coverage can
READ MOREReasons to Have Malpractice Insurance
If it weren’t a requirement in order to have hospital privileges, would you still carry medical malpractice insurance? After all, there is no federal law requiring a physician or surgeon to have liability insurance, although some states do require it by law. The truth is that most healthcare professionals have this important coverage whether it
READ MOREWhat Does Medical Liability Insurance Cover?
Understanding medical liability insurance isn’t as complicated as people may think. There are unique aspects of the policies that make them different from other types of insurance policies, but that doesn’t mean they are more complex. There are really only two types of medical liability insurance policies: Occurrence and Claims Made. There is only one
READ MORE9 Tips for Finding Affordable Medical Malpractice Insurance
As a dedicated, caring, and busy healthcare professional, the last thing you need is a medical malpractice lawsuit. Not only can it be emotionally and financially distressing, but it can put your entire practice in jeopardy. That’s why medical malpractice insurance is vital – to protect healthcare practitioners against litigation. Whether it is purchased as
READ MOREHow to Save Money on Medical Malpractice Insurance: Three Tips
“Beware of little expenses. A small leak will sink a great ship.” Wise words from the man that also said, “A penny saved is a penny earned,” Benjamin Franklin. The problem for medical practices today is that it seems there are no “little expenses.” All businesses are faced with large expenses that continue to grow,
READ MOREAllied Healthcare Providers: Should You Get an Occurrence or Claims Made Policy?
Medical Malpractice Insurance policies can be confusing, and most allied healthcare providers are unsure whether to get an Occurrence or a Claims Made policy. The answer to this question really depends on your employer, your employment status, and your future career plans. First, a definition of each type of policy may be helpful: Claims-made Coverage
READ MORECOVID-19 & Caring for our Healthcare Community
This is an odd time to be practicing medicine. Nobody knows how this Coronavirus era of 2019 and 2020 will be viewed in the history books decades from now, but we do know that our healthcare community will be the heroes of the story. Physicians, nurses, and all our healthcare providers are on the frontlines
READ MOREHypnotherapy Shown to Reduce IBS Symptoms
Those suffering with the debilitating effects of Irritable Bowel Syndrome (IBS) can turn to dietary changes, medications…and now, hypnotherapy. In past studies, researchers found that hypnotherapy, which is fast gaining credibility in the medical community as a treatment to manage pain, can be successfully used to relieve symptoms of IBS. But a recent study conducted
READ MOREThe Cost of Medical Malpractice Insurance is Rising: Be Prepared
Physicians and practice administrators need to prepare for the inevitable increase in medical malpractice insurance premiums at the next renewal. If it doesn’t happen this year, it will happen next year. The medical malpractice insurance market is changing, and premiums are going up. Physicians, hospitals, facilities, and other healthcare provider groups have enjoyed a little
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