Malpractice insurance is critical for many doctors and professionals in the healthcare industry, especially psychiatrists. Psychiatrists who need liability insurance can find quality and affordable psychiatrist malpractice insurance at Baxter & Associates.
Why Malpractice Insurance Is Essential for Psychiatrists
While psychiatrists are often sued less often than physicians of other specialties, especially physicians who conduct more dangerous and risky procedures, they’re certainly not immune to medical malpractice claims. On average, roughly 2–3 percent of psychiatrists are sued for malpractice yearly, accounting for the approximately 50,000 psychiatrists working in the US today, which means over 1,500 malpractice claims annually. If a psychiatrist doesn’t have the proper insurance to fight the claim, they could be left solely responsible for damages in the hundreds of thousands or even millions of dollars.
While psychiatry distinguishes itself from other medical fields, the exposure to medical malpractice for psychiatrists is roughly the same as that of other physicians—they can be sued for an improper diagnosis, perceived negligence, improper prescriptions, and more. Since psychiatry and mental wellness are challenging to diagnose accurately, malpractice insurance for psychiatrists is essential.
What Psychiatrists Should Look for in Malpractice Insurance
It’s clear that psychiatrists need malpractice insurance, but what should they consider when choosing a policy? For one, psychiatrists should want insurance from a highly qualified provider with years of experience and expertise.
Baxter & Associates has been connecting professionals with quality insurance providers for over 20 years and has the connections and network to make finding the ideal policy easy. Psychiatrists should also consider policy aspects, like the premium costs, consent to settle clause, and access to attorneys for pre-suit advice. Baxter & Associates can help connect you with a provider that checks all the boxes on your wish list.
Get the Malpractice Insurance You Need With Baxter & Associates
Baxter & Associates can help you get the psychiatrist malpractice insurance you need quickly and easily. As a medical malpractice insurance agency, we have experience working with all medical professionals, from psychiatrists to podiatrists and practically everything in between.
If you require professional liability insurance, trust the experienced experts at Baxter & Associates, and we’re sure to find you a plan that fits your budget and needs. Get a quote for malpractice insurance today, or contact our staff if you have any questions about finding the right insurance policy for you.