• Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

One practice--two med-mal carriers

Article

A new physician just joined me in practice with the intention of becoming my partner in the future. However, we have different professional liability insurance carriers. Is this a problem? I suggested that we both use the same company, but he refuses because my premiums are more expensive than his.

Q: A new physician just joined me in practice with the intention of becoming my partner in the future. However, we have different professional liability insurance carriers. Is this a problem? I suggested that we both use the same company, but he refuses because my premiums are more expensive than his.

A: There are two drawbacks to having different carriers. First, neither carrier may be willing to ensure the corporate entity itself. That means the corporation-and, in particular, its receivables-would not be protected from a judgment against it. Generally, med-mal companies will insure the corporation only if they insure all the doctors, or at least most of them.

Second, let's say you and your partner participated in the care of a patient who later sues both of you for malpractice. When there are two different carriers involved, there's likely be a dispute over which one has the primary obligation to provide the defense.

You both should ask your respective carriers about these issues, and see what they suggest. Perhaps you could persuade your partner to get on board with your carrier by offering to split the difference between the two premiums

Related Videos
© National Institute for Occupational Safety and Health
© National Institute for Occupational Safety and Health
© National Institute for Occupational Safety and Health
© National Institute for Occupational Safety and Health
© National Institute for Occupational Safety and Health
© National Institute for Occupational Safety and Health