Pediatricians: Are you getting the right kind of med mal coverage?
AAP News, the official Newsmagazine of the American Academy of Pediatrics, just had a great article about the med mal insurance needs of pediatricians. These days, fewer and fewer pediatricians are opening their own, independent private practices. Many pediatricians today are working either as employees or as independent contractors for larger practices or health systems. So, what does this mean for their med mal insurance?
First, these pediatricians should clarify and understand the nature of their employment. Is he or she an employee or independent contractor?
Second, pediatricians, like every physician, should understand the med mal insurance requirements in their state. (If you are unsure, contact us at 866-824-0137, and we can let you know the limits and/or requirements for your state.) Independent contractors, in particular, should also know if their state has “joint and several liability” or “several liability.” This could have a major impact on any liability payouts.
Third, they should understand the type of institution in which they will be providing care. Some state-owned hospitals, for example, provide special liability protections, monetary award limits and/or statutory limits on liability for their physicians. All of these factors can influence the coverage requirements and cost of a pediatrician’s med mal insurance.
Finally, (this is our own suggestion from having talked to many, many physicians over the years) never, ever assume that you are covered. We have seen too many physicians assume that they were covered when they were not.