Medical Malpractice

As physicians align themselves with Hospitals, big groups or ACO’s they have to take into account their Medical Malpractice Insurance. When you are solo you are the 1 in charge of your medical malpractice insurance. Now you could be thinking about relinquishing that control to the hospital, as you become their employee.

Keep in mind, when there is a suit, they are suing you primarily and your employer is typically secondary. It is you who will deal with the Medical Board, and the claims history, and the loss of reputation. So take a moment to ask some very good questions:

1. Who is the hospital’s insurer, is it a self insured program. What if the Hospital has a financial crisis and you I am in the middle of a claim?

2. If the hospital goes bankrupt what will occur to my prior acts coverage or existing coverage?

three. Does the hospital cover Medical Board actions if so how a lot?

4. What are the limits of my malpractice coverage, will I have my own separate 1 million/3 million limit, or am I sharing this with other doctors. What will take place if the other doctors erode the policy limit, am I on my own?

5. Is the coverage occurrence or claims produced if the coverage is claims produced medical malpractice will you acquire my tail when I leave? How will you supply me proof that a tal was purchasedl? Also what will the limits be on my tail, and will the policy terms are the very same?

6. What if I want to retire will you give me no cost tail?

7. Will you inform me when you make changes to the hospitals malpractice coverage, will I have a say if I do not like your planned adjustments?

8. Will Medicare/Medicaid billing fraud and abuse be covered?

9. Can I choose my own attorney or do I have to use yours?

10. Can you force me to settle a case that I want to fight? Also what control do I have over allocation of settlement? Will payments be allocated against my record with the NPDB?

If any of the above makes you nervous. Negotiate with the hospital to have them reimburse you for your own medical malpractice insurance policy that you buy on your own. This way you control your own insurance.

Then buy an occurrence policy from an” A” (AM Very best Category insurer) insurer. By buying occurrence medical malpractice insurance, when you leave the hospitals employ, you will have built in tail.

Parting thoughts, it appears wonderful to leave the pressure of private practice and go work for a hospital, but don’t forget the above before handing your medical malpractice protection over to your new employer.

HCP National is medical malpractice organization broker. We supply medical malpractice in CA, NY, FL, TX and MI.