Mail Bag 4: Your Malpractice Questions ANSWERED

en-usNovember 16, 2022

Malpractice Insights

What was the main topic of the podcast episode?

Summarise the key points discussed in the episode?

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Which popular books were mentioned in this episode?

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Were any current events or trending topics addressed in the episode?

What was the main topic of the podcast episode?

Summarise the key points discussed in the episode?

Were there any notable quotes or insights from the speakers?

Which popular books were mentioned in this episode?

Were there any points particularly controversial or thought-provoking discussed in the episode?

Were any current events or trending topics addressed in the episode?

About this Episode

Today we’re continuing our new Mail Bag segment with some more “real life” scenarios to talk through. We’re going to talk about a situation where a doctor got STUCK with an unexpected tail obligation, how to successfully hire self-employed providers, and key considerations when you’re just starting private practice after fellowship.

📱RELATED EPISODES📱
How to Successfully Negotiate Tail Insurance: https://youtu.be/q-tQe_ofRWI

0:54 Handling and unexpected tail bill
5:20 How to cover independent contractors and LLCs
8:32 Setting up a policy after fellowship

**********Contact us!**********

📱💻 aegismalpractice.com
📞 888.51AEGIS [888.512.3447]

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Facebook: https://www.facebook.com/AegisMalpractice/

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🎙🎥 Produced by Grip Media Indiana. For more information on how Grip Media can help produce your podcast or video work, visit https://www.gripmediaindiana.com

**********Contact us!**********

📱💻 aegismalpractice.com
📞 888.51AEGIS [888.512.3447]

**********Follow us on Social Media**********

Facebook: https://www.facebook.com/AegisMalpractice/

Twitter: https://twitter.com/AegisMedMal

Instagram: https://www.instagram.com/aegismalpractice/

Linked In: https://www.linkedin.com/company/aegis-malpractice-solutions/about/

YouTube: https://www.youtube.com/channel/UCyDVJQuU4ihcZl3gcL6L16A

Recent Episodes from Malpractice Insights

Malpractice Insights Mail Bag: A Six-Figure Tail Insurance Bill???

Today we’re continuing our Mail Bag segment with some more “real life” scenarios to talk through. We’re going to talk about making an agent change
– when it is and isn’t necessary, growing a practice and hiring more doctors when you’re in the E&S market, and dealing with a six-figure tail bill.

(0:54) How hard is it to just change an agent?

(4:38) Growing your practice in the E&S market

(7:25) Navigating a six-figure tail insurance bill

Malpractice Insights

en-usNovember 29, 2023

Should You Stay with the Same Carrier for a Long time? Here are the Pros and Cons!

It can take awhile to finally land on a malpractice carrier that you really like. And once you’re all setup with them, it’s very comfortable and easy to just renew your policy year over year. And to be honest, there are many reasons why it makes sense to stay with the same carrier for the long-haul. But, there are also some drawback and potential issues with staying with the same malpractice company for a really long time. Today we’re going to talk about the Pros and Cons so that you can decide if it’s time for YOU to possibly make a change.

For the BLOG on this topic, visit: https://aegismalpractice.com/malpractice-insights/should-you-stay-with-the-same-carrier-for-a-long-time-here-are-the-pros-and-cons/

(1:20) Pros and Cons of Staying With Your Carrier

(5:40) Medical Malpractice Shopping Tips

Malpractice Insights

en-usNovember 22, 2023

professional liability

One Point of Contact for ALL your Insurance Needs? Five Reasons Why It's a BAD Idea!

Buying medical malpractice insurance can be a time-consuming, frustrating process. There are many different companies to choose from, policy types to understand and coverage nuances that can make it difficult to really know if you’re getting the best coverage at the best price. This is why most doctors prefer to work with an agent to help them compare options in the market. So, why not just have your current insurance broker – the guy who does your general liability, your business owner’s policy, your worker’s comp and your other commercial policies – do your malpractice? Isn’t it just easier to have 1 point of contact for all of your insurance needs?

Well today I’m going to tell you why this is actually a BAD idea. No offense to your commercial insurance agent, but there are a lot of reasons why you should NOT have him handle your medmal. Let’s talk about it together.

(1:23) Direct vs. Independent Agents
(4:02) Why not have multiple agents shop for you?
(4:58) Why you need a specialised insurance agent

Malpractice Insights

en-usNovember 15, 2023

What Happens If I Get Sued???

According to the AMA, 1 in 3 doctors have been sued for medical malpractice. And the data that we see from the insurance carriers shows that number continues to go up, depending on your specialty, where you practice, and how long you’ve been working. It’s very likely that you will be involved in at least 1 malpractice claim by the time you retire from the practice of medicine. And if you’ve never been involved in a claim before, it can be a bit of an unknown… perhaps even a little scary and intimidating to think about what it's like to go through a lawsuit. So today, we’re going to talk about what happens after you get sued for medical malpractice… what the claim process actually looks like from the insurance side of things, so that you can be better prepared if and when it happens to you.

FREE DOWNLOAD: Understanding the Medical Malpractice Claims Process: https://aegismalpractice.com/malpractice-insights/what-happens-after-i-get-sued-for-medical-malpractice/

1:32 The Five Stages of the Malpractice Claim Process
6:04 Three Tips to Protect Yourself

Malpractice Insights

en-usNovember 08, 2023

professional liability

Mail Bag: Medmal in a RUSH, Timing Your Credentialing, Structuring Locum Tenens

Today we’re continuing our Mail Bag segment with some more “real life” scenarios to talk through. We’re going to talk about RUSH malpractice insurance (like you need it in a few days), getting credentialed way before you actually plan on opening your practice, and how best to structure locums coverage.

0:53 Medmal in a Rush
4:48 Timing Your Credentialing
8:18 Structuring Locum Tenens

Malpractice Insights

en-usNovember 01, 2023

"I'm a Medical Student. Do I ACTUALLY Need Malpractice Insurance?"

If you’re just getting started in your medical training, you might be wondering how malpractice insurance works for medical school, your internship, residency or fellowship. So, today we’re going to talk about the things you need to know going into these programs, whether or not supplemental insurance is something you should consider, and what to expect when you finish your training and get started in the real world of medicine.

For the BLOG on this topic, visit: https://aegismalpractice.com/malpractice-insights/im-a-med-student-do-i-actually-need-malpractice-insurance/

Related Episodes:

💻Malpractice Insurance for Fellows: https://youtu.be/qCmvrDvY5ec

💻Claims-Made vs. Occurrence Explained in FIVE Minutes: https://youtu.be/zcDaZ7bx3k4

💻A Crash Course on Buying Your Own Malpractice Insurance: https://youtu.be/iM3hmsUkhss

1:10 Medmal for med students
2:22 Medmal for fellows
3:57 Moonlighting

Malpractice Insights

en-usOctober 25, 2023

Limited or Unlimited Tail? Which Should I Choose???

So, you’ve cancelled your Claims-Made malpractice insurance policy and now, your carrier has given you a tail quote – but it looks like there are multiple options? And the price is significantly different, depending on which option you choose. Well, the reason for the different tail prices is that the coverage is different. You likely have an option for an unlimited tail and a few options for limited tails. So, what’s the difference? And how do you know which one to pick?

💻 For the BLOG on this episode, visit: https://aegismalpractice.com/malpractice-insights/should-i-buy-a-limited-or-unlimited-tail/

Related Episode: How to Negotiate Tail Insurance https://youtu.be/q-tQe_ofRWI?si=4j0whjuEaF8HAEVS

1:14 Tail Insurance Review
3:30 Explaining Unlimited Tail
4:39 Explaining Limited Tail
5:58 Statute of Limitations
6:48 Comparing Costs

Malpractice Insights

en-usOctober 18, 2023

The BEST Way to Get Entity Coverage for Your Start-Up

Interacting with patients on a daily basis exposes you, your employees, any independent contractors working for you AND the practice itself to professional liability. And, while it’s pretty well-known that doctors and healthcare providers need to carry malpractice insurance, one of the most common mistakes that we see is forgetting to cover your medical corporation. But for most start-up practices, cost is a major issue and providers need to make sure they get the coverage they need – without breaking the bank.

So, what’s the best way to do this? We’ll talk about it today.

1:15 Who actually needs malpractice coverage in your practice?
2:15 How do you get malpractice insurance for a business entity or corporation?
2:56 Shared limits vs. separate limits

💻 For the BLOG on this episode, visit: https://aegismalpractice.com/malpractice-insights/whats-the-best-way-to-insure-your-medical-practice-for-start-ups/

Malpractice Insights

en-usOctober 04, 2023

professional liability

Mail Bag: Unexpected rate increases and coverage a new practice on a budget

Today we’re continuing our Mail Bag segment with some more “real life” scenarios to talk through. We’re going to talk about rate increases on a Claims-Made policy, the best coverage options for medical director coverage, and how to setup malpractice insurance in a cost-effective way for a brand-new practice on a budget.

0:58 Unexpected rate increases
4:55 Coverage for medical directors
8:44 Budget friendly tips on covering a new practice

Malpractice Insights

en-usSeptember 27, 2023

Can I Switch from Claims-Made to Occurrence Coverage?

So, you’re looking at malpractice insurance options and being the smart provider that you are, you’ve got quotes for both Occurrence and Claims-Made policies in front of you. You like the idea of an Occurrence policy, but the Claims-Made quote is so much cheaper in the first few years. So, why not just start with the Claims-Made policy now and then switch to Occurrence when you’re a little further down the road? Well, CAN you switch – Yes… but there are a few things that you need to be aware of before you make this choice. We’ll talk all about it today.

✔️For the BLOG on this topic, visit: https://aegismalpractice.com/malpractice-insights/can-i-switch-from-claims-made-to-occurrence-coverage/

1:11 The difference between Claims-Made and Occurrence
4:01 Long term cost breakdown
6:10 Switching from Claims-Made to Occurrence

Malpractice Insights

en-usSeptember 20, 2023

professional liability

Ask this episode Anything

What was the main topic of the podcast episode?

Summarise the key points discussed in the episode?

Were there any notable quotes or insights from the speakers?

Which popular books were mentioned in this episode?

Were there any points particularly controversial or thought-provoking discussed in the episode?

Were any current events or trending topics addressed in the episode?