Physician groups medical malpractice is a form of insurance for doctors who are in practice together. When two or more doctors open a clinic, they need medical malpractice insurance. Without it, they could be forced to close their doors if they're sued and are ordered to pay expensive damages.
Medical malpractice insurance is a form of professional liability insurance. Lawyers, doctors, architects and other professionals need professional malpractice liability insurance to protect themselves and their work. If a patient is injured in the clinic or is misdiagnosed, they may sue the clinic for damages. When this happens, the physician group will need to pay for lawyers to defend their practice and their licenses. Without this form of insurance, you will have to pay for all of these costs out of your own pocket. This can be extremely difficult, especially if you own and operate a small clinic.
Physician groups medical malpractice insurance is regulated at the state level. States require physicians to carry a specific amount of insurance. If you and your partners can't show that you have this insurance, you won't be able to work in the state. Insurance is important. Not only will it keep your practice open when disaster strikes, it will also help you keep your doctor's license active.
Physician groups medical malpractice insurance also comes in a range of amounts and levels. If you're a surgeon and you own a practice with other surgeons, you may need higher levels of insurance than general physicians may require. Speak with your partners and a representative from an insurance company to determine the amount of insurance that's right for you.
Medical malpractice insurance is unavoidable. Doctors should work with their partners to figure out which plans are right for them. In addition to professional liability, doctors should also make sure they have workers' compensation and general liability insurance. Workers' compensation insurance covers claims that arise when one of your employees is injured on the job and while in the course and scope of work. Claims will generally be accepted if they happen at work, while the employee is working. Of course, there are exceptions. Speak with insurance representatives for a more detailed explanation of which types of work comp claims will be accepted and which will be denied.
General liability insurance covers losses that arise when one of your employees injures a patient or damages his/her property. Without it, you may be ordered to reimburse patients for their losses out of pocket. These costs can add up quickly. Besides professional liability, workers' compensation, and general liability, you should also consider property insurance. This will protect your business and will help you repair and replace your equipment. Other forms of insurance may be necessary. You should consult with all of the doctors in your clinic to determine the types and amounts of insurance that you need.