Why Should Physician’s Assistant Buy Medical Malpractice Insurance?
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Why Should Physician’s Assistant Buy Medical Malpractice Insurance?

Why Should Physician’s Assistant Buy Medical Malpractice Insurance?

Being a clinician, you must carry a professional liability coverage plan, also known as malpractice insurance. It keeps you protected against malpractice allegations lawsuit claims, thus safeguarding your profession and assets.

As a physician assistant, you need tailor-made medical liability insurance as you work closely with doctors and physicians. They not only are prone to false claims but also may derail their reputation when mentioned in a lawsuit claim of a doctor or physician they are working with.

It provides financial protection as lawsuits can jeopardize your professional credibility and reputation, potentially leading to cancelled or suspended license. If not this, your malpractice records become a public property causing disqualification for several job opportunities, even if you are innocent.

Busting Myths Related To Buying Medical Liability Insurance

Here, we are busting two common myths that many believe in when purchasing physician assistant malpractice insurance:

1. My Employer-Sponsored Insurance Policy Will Protect Me, Always

Many physician assistants believe that their employer-based insurance policies will fully protect their career and assets. However, this is not the case; such policies primarily protect the employer and may be unable to fully defend you. This policy coverage does not include off-premises incidents and other such situations.

Secondly, switching jobs can nullify the policy. You may be able buy a new policy that takes time to get active. During the in-between period, you will remain uncovered, as the previous employer-based insurance will not cover for the events at the new place.

Thirdly, employer-based insurance plan does not provide coverage for the events taken place during the validity of the policy, for claims made after expiration.

2. Carrying an Individual Policy Will Put Me at a Greater Risk of Lawsuits

Buying an insurance plan is not public knowledge and your agent cannot disclose the information until he has a written permission letter from you. The plaintiff’s attorney will not know the status of your individual physician assistant malpractice insurance at the time your name was included in the case.

They will only come to know of it, once you reach the trial’s discovery phase, which is way after you were involved in the case. Secondly, the plaintiff is not much interested of your liability insurance status, as it would not benefit them.

However, as a carrier you can have certain ramifications. It protects you, your practice and assets. Thirdly, it will cover the cost incurred due to this lawsuit claim so that you do not have to spend a dollar during the trial.

Benefits of Buying Physician Assistant Malpractice Insurance

Here are few advantages of buying a physician assistant malpractice insurance for yourself:

1. You Can Control the Monthly Premiums to a Certain Extent

Commonly, premiums of profession-based insurance plans are typically beyond your control. However, there are certain factors that you can influence to regulate premium costs. One way to lower the premiums is by limiting workplace risks by getting safety trainings, and becoming a part of well-equipped facilities.

2. You Get Reputation Saving Protection

Your insurance plans save your assets and profession as well as provide financial protection when facing a lawsuit. It covers the court costs, lawyer fees and other reputation-damaging losses.

Reach out to Advanced Professionals to purchase a physician assistant malpractice insurance to keep you protected against frivolous claims and false accusations.

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