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Physician Malpractice Insurance

The physician’s career is difficult. Its demands are many and stress levels run high, regardless of specialty. Add to that long hours and multi-tasking requirements, and it becomes easy to see why anyone who enters this profession does so only after careful consideration.

Doctors generally possess excellent attention to detail and a very genuine desire to assist their patients to lead the most healthy, fulfilling lifestyles within their abilities. When a patient makes a recovery, the physician can feel justifiably triumphant, and when things do not go according to their expectations, they struggle to find the philosophical stance that enables them to continue on with their job. A variety of components make such actions possible. One such component is physician malpractice insurance.

Physician Malpractice Insurance - Why Do You Need It?

It may be something that most physicians would rather not think about or acknowledge, but professional liability insurance is the cornerstone of their practice. With it, they have the confidence to continue their career. Without it, they may find themselves in the difficult position of needing to rebuild their practice from the ground up.

Being sued for malpractice is not a pleasant possibility, even with physician malpractice insurance. But for the physician who does not have such coverage, it can be utterly devastating. Malpractice insurance protects the doctor in the event of a mishap occurring during the treatment of a patient. Even with years of training and experience, such things may still happen, even for doctors who are cautious and highly skilled.

Physician Malpractice Insurance - What You Need To Know

The doctor without malpractice insurance who is being sued will quickly find that legal defence fees add up quickly. They may miss time at work for which they are not compensated, making it difficult to keep up with things like utility bills and car payments. As the stress and the pressure grow, so do the costs, especially since most malpractice cases take between four and five years before they are resolved. That’s a long time to live in such a difficult situation: always wondering what tomorrow will bring and what new expenses will crop up.

The situation is different for individuals with physician malpractice insurance. They have the power to hire the legal counsel of their choice and keep current with court costs. Should the court decide in favour of the plaintiff, such insurance even helps pay compensation. It may still be a trying time, but with this coverage, the doctor’s livelihood is not in jeopardy.

Last modified: May 15, 2011