Physician Malpractice Insurance
Physician Malpractice insurance
Expanding nurse practitioner role has merit
The shortage of primary care physicians gives impetus to the argument that nurse practitioners should have an expanded role as the new federal health law provides insurance for up to 1 million additional Michiganians in 2014.
Finding “Medical Malpractice Insurance” for Allied Health Professionals
While physicians and other healthcare professionals can rely on medical malpractice insurance to cover them in the case of litigation, allied health professionals must also consider their insurance options. Many allied health professionals do not understand what their Professional Liability entails. Here’s a primer on allied health professionals and insurance options.
All Allied Health Professionals Are At Risk
Whether you’re an occupational therapist, optician, speech pathologist, nutritionist, or many of the other types of allied health workers, you are susceptible to risk. It is extremely important to manage your risk.
An allied health business is vulnerable to risk simply because allied health workers see patients just like physicians do. If a client decides to pursue litigation against you, the cost of fighting the legal battle can quickly empty your bank account and even force you into bankruptcy.
If a patient issues a claim against you and accuses you of making a damaging or negligent error, what’s the likelihood that you can defend yourself? If the court rules in favor of the plaintiff how do you plan on paying the financial damages?
The Answer: Allied Healthcare Professional Liability Insurance
The answer lies in professional liability insurance for allied health workers. Certain insurance companies build professional liability policies that focus on protecting allied health workers.
All allied health workers need to acquire some form of Professional Liability Insurance. This coverage provides coverage for actual or alleged errors, omissions, negligence, breach of duty or similar claims arising from your professional duties.
The companies that offer allied health general liability insurance often structure their policies so that they resemble medical malpractice policies. In addition policies may be available to be tailored to your specific profession and duties.
Build a Custom Policy to Cover Your Needs
You may be able to customize your policy so that it includes provisions related to your field. For example, if you are an audiologist or hearing technician, you may need to be covered from errors and omissions that might result from defective equipment.
Professional liability insurance carriers can also provide resources and help you build strategies to minimize the chance of professional claims threatening your career. Purchasing a policy is really about transferring risk to an insurance company, but it’s possible to reduce risk by carefully managing risk and building smart company protocols.
Allied health professionals work hard and should be able to serve their patients without needing to fret about litigation. Good allied health professional liability insurance is one of the ways that you can protect yourself and your practice from vicious litigation.
It is important to work with professionals who understand your industry and your insurance needs. By teaming with an agent who understands your profession you will be able to build an airtight professional policy to protect you from claims that could arise from your professional duties.
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