Intensivists face a different coverage scenario and higher risk than traditional, office-based providers. For intensivists it is not a mater of IF one will face litigation, but WHEN one will face litigation. Therefore, it is vital to secure medical malpractice coverage from top-rated insurance carriers willing and financially able to go the extra mile on claims defense.
Consider securing coverage that allow for some flexibility in the rating base to better accommodate individual and group needs. For example, Medical Protective offers an occurrence-based, group policy that allows for a built-in tail if turn-over is likely. The Doctors Company on the other hand can offer a group FTE policy with individual physician limits. As yet another option, various companies are willing to offer a per encounter policy – though the drawback is the possibility of an audit billing at year end.
The coverage options are varied and complex and worth taking the time to understand. In the end, intensivists MUST consider price, coverage, and carrier stability or face the risk of unexpected insurance expenses over the long haul.
Presidio Insurance Solutions – the experts in medical malpractice insurance solutions.