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What Is Covered By Medical Malpractice Insurance?

If you run a medical practice, you likely know how important it is to have the right kinds of insurance to protect your interests. Medical malpractice cases can easily drain your resources, costing you valuable time, money, and labor. In some high profile situations, your medical practice itself may be in jeopardy, due to the high cost of settlements and fines associated with medical malpractice. Of course, the easiest way to avoid medical malpractice cases is to ensure that everything that you do in your doctor’s office is up-to-code.

Even so, it never hurts to have some extra protection. From hiring a medical malpractice attorney to taking out medical malpractice insurance, here’s what you need to know to guard yourself against expensive lawsuits.


Get Medical Malpractice Insurance

Having a specialized liability insurance policy can go a long way in helping to cover any potential malpractice cases you may face in your time as a medical professional. Malpractice insurance comes in different scopes, so it’s a good idea to investigate the benefits and disadvantages of different policies before making a decision about which provider to go with.

Some policies are specific to one individual, while others are group policies. Some malpractice insurance is offered through a private insurance company, while others are handled by a special type of organization called an RRG, or risk retention group.

While medical malpractice insurance can cover a wide variety of costs associated with a malpractice case, such as court costs and attorney fees, some costs are not included. For example, while arbitration fees, damages, and settlements are all covered under a malpractice insurance policy, if the liability is in conjunction with criminal or sexual misconduct or the altering of records, you’re out of luck. As a result, it’s important to always conduct your medical practice under all state and local laws and ordinances, so that if you need to lean on your liability insurance you’re able to.

Hire A Solid Attorney

Having proper legal counsel can also help you make the most of your malpractice insurance policy. Since local laws can often affect your ability to utilize your liability policy, having a local attorney is often far more beneficial than retaining a big name lawyer. Searching for malpractice attorneys based in New Mexico or the location of your practice can give you the peace of mind you need to run your business well.

These kinds of lawyers will also be able to help you evaluate when to settle or take a case to court, and can give you this counsel in conjunction with the insurance policy you have taken out.


Encourage Patients To Use Insurance

Sometimes individuals try and sue you for malpractice because of extra medical costs that they could have covered themselves if they had insurance. One way you can help to mitigate your risks in this area is by helping people understand that there are a variety of ways to get health insurance, including short-term options.

A short-term insurance company such as Agile Health Insurance specializes in affordable insurance policies perfect for students, travelers, or anyone seeking gap insurance for a temporary amount of time. Best of all, Agile Health Insurance is fast. You can get an insurance estimate, apply for coverage, and receive your insurance card all within an hour. Many uninsured patients may not realize that insurance companies offering such positive options exist. By letting them know more about the types of policies on the market, you can keep your healthcare practice affordable.

Nobody wants to face a medical malpractice suit. From the added stress to your financial resources to the potential public relations issues, there are plenty of reasons to make a plan to safeguard your practice from such lawsuits. With a good medical malpractice liability insurance policy and an attorney on your side, you can take steps towards protecting your business for years to come.

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