In medicine, there is always the possibility of a mistake. Your years of training and focus pay off with most of your patients. However, there is the off chance that your medical advice, treatment, or procedure ends up harming a patient in unforeseen ways. Under these circumstances, it is important for medical professionals of all types to have the appropriate insurance coverage. Without it, you could be in serious financial and professional trouble. To start your journey into the insurance world, here is who needs medical malpractice insurance and why it is so important.
A Brief Description of Medical Malpractice Insurance
What is medical malpractice insurance? This particular form of insurance is no stranger to the majority of physicians and medical professionals practicing in the United States. However, if you are entering the field or looking for your first job in medicine, you may not know about these policies. At its core, medical malpractice insurance is a form of professional liability malpractice insurance for medical professionals. This insurance provides certain coverages—each provider dictates the specific amounts and terms—for medical professionals if they come under fire.
Who Needs Medical Malpractice Insurance?
The world of medicine is as deep as it is wide; there are dozens and dozens of specializations, trainings, and roles. But the reality is that almost anyone who plays a part in the diagnosis, treatment, operation, and care of a patient is responsible and liable to some degree. So, the short answer is everyone! Even if it is to just cover your bases professionally, obtaining medical malpractice insurance is critical to the longevity of each medical professional’s career. If you or someone you know is looking for medical malpractice insurance, reach out to our team here at Baxter & Associates. Here is a comprehensive list of the people who must have this type of insurance.
Physicians and Surgeons
The larger the scope of work, the higher the stakes of medical liability. You may expect that at the uppermost levels of the medical field, physicians and surgeons diagnose, operate, and treat hundreds of people with some of the most invasive and detailed plans. Though MDs and DOs are essential to the medical process, their job descriptions leave them open to serious risks. Medical malpractice insurance is essential for these people due to the intensity of their work. Physicians, doctors, and surgeons all need adequate coverage to secure a long and prosperous medical career.
The role of nurse practitioners is contingent upon the state wherein they practice. However, they are one of the few medical professionals who work in similar leagues as full-fledged doctors and physicians—a degree available to NPs is a Doctorate in Nursing Practice, or DNP. Nurse practitioners, like all medical professionals of their grade, work with patients every step of the way. Their job functions expose them to many scenarios where patients could file a claim against them in the future if any harm occurs. So, it is best for NPs and ARNPs to obtain the proper medical malpractice insurance ahead of time.
Certified Registered Nurse Anesthetists
CRNAs or Certified Registered Nurse Anesthetists are integral to the success of surgical operations. They are responsible for selecting anesthetics, administering them, monitoring patients, and awakening them from anesthesia-induced sleep. Anesthesia is complex and CRNAs must tailor each vial and dosage to their patient’s needs. Going under can be scary for patients and anesthesia does not always work in its intended capacity. Though CRNAs extensively train and practice in their field, the fact of the matter is that anesthesia is sometimes fickle and causes psychological or physical damage to a patient. Certified Registered Nurse Anesthetists must find malpractice coverage that suits their needs. Without it, they could face serious financial and legal issues.
Physician Assistants live in the space between physicians and nurses. They do not have the same level of education and responsibility as a doctor, but they do work in considerably similar capacities. Because they work in tandem with a physician and even serve as a patient’s primary healthcare provider, PAs are at risk of legal claims of malpractice. With the right physician assistant malpractice insurance, PAs can continue their work with peace of mind.
Turning to a few special medical positions, podiatrists are at the top of the list. As medical professionals who work with feet, podiatrists are an essential part of the medical system. For many people, their feet are critical to their capacity to work and live, so any malpractice issues could cause life-long disability. Podiatrists should obtain podiatry malpractice insurance to protect their practice and continue serving people’s foot-related needs.
Dentists are another medical professional who deals with particular parts of the body—namely the mouth. Dentists should find professional dental liability insurance to cover their practice and career. Without it, an injured patient could file a claim against them resulting in serious damages.
Chiropractors work with the human body in ways many other medical professionals do not. They adjust and manipulate the structure of people’s bodies to alleviate pain and misalignments. Though they may not perform surgery or prescribe drugs, they do move patients’ bodies in ways that could result in damage and injury. Chiropractor professional liability insurance is the way to go for chiropractors who want to head off any legal claims.
Knowing who needs medical malpractice insurance equips you to find the right solution for your professional goals. With focused research, budgeting, and planning, you can secure insurance that will cover you for your entire career and ensure a bright future for your vocational journey. If you have questions about any of these insurance types or want more information about one of our tailor-made policies, reach out to us at Baxter & Associates today.