NP & PA Independent Medical Practices: What You Need to Know
While a lot of talk lately seems to be focused on the Affordable Care Act and the changes it’s bringing, what sometimes gets lost in the discussion is how the delivery of health care itself is also changing. One new type of health care delivery that is on the rise is the growing number of independent physician assistant and nurse practitioner-owned practices. As these new practices have flourished, the rules and regulations governing them have evolved.
Today, let’s outline the basics of nurse practitioner and physician assistant practices:
Depending on the state, NPs and PAs can often offer the same type of services as a general practitioner and, in many cases, this includes prescribing medication.
Again, it can vary state-to-state, but most nurse practitioner and physician assistant practices are required to have a medical director on staff. Usually this position is administrative-only. However, if you need a physician covered to practice, make sure that you clarify this with your medical malpractice insurance agent. And, also let your medical malpractice agent know if you intend this physician to practice full-time or part-time only –doing so can save you money.
Finding good, qualified physicians to serve as a medical director can be hard depending on your location. We often suggest looking at local teaching institutions. We recommend this because usually there’s no conflict of interest for these physicians (eg, with a physician who has his or her own practice).
Generally speaking, nurse practitioner and physician assistant medical malpractice insurance costs about 1/4 of their physician counterparts’ insurance.
Medical malpractice insurance coverage for PAs and NPs that have had claims is possible –just ask us! We know of and work with many companies that are willing to work with you. We see ourselves as advocates and will do our best to represent you as strongly as possible to the medical malpractice insurance companies.
Limits for medical malpractice insurance coverage, again, vary from state-to-state. So call today to discuss your situation with our medical malpractice insurance agents.