Implementing the requirements for the Quality Payment Program (QPP) under MACRA can be difficult and confusing for many medical practices. Large groups and healthcare systems undoubtedly have an advantage over smaller practices because they can hire people, sometimes even departments, to interpret and employ the new regulations. Fortunately for the smaller private practice and solo
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Medical Malpractice Insurance Claims
More than half of the physicians in the United States have been named in a medical malpractice lawsuit, and yet when it happens most physicians will say they are surprised by the suit. Why are they surprised when everyone generally knows that malpractice suits happen all the time? The answer is that doctors and other
READ MOREHealthcare Providers Face Higher Risk of Cyber Liability
Healthcare providers continue to rely on a small limit of Cyber Liability Insurance added to their Medical Malpractice Insurance policies to protect against Cyber Risks. With the frequency of cyber attacks and data losses in the medical industry, healthcare providers need to consider adding a Cyber Liability Insurance policy with a minimum limit of $1,000,000.
READ MOREWhere Does Your Home Town Rank on the Best and Worst Places to Practice Medicine?
Most of us are proud of our city and state and probably believe it’s the best place to live and work. But the Medscape report, “Best and Worst Places to Practice 2017,” may shed some light on some other places that would be great, or not-so-great, to practice medicine. Where does your city rank? Every
READ MORERepublican Led House Quietly Passes Medical Malpractice Reform Bill
House Republicans passed a bill yesterday that would implement several notable tort reform features on a federal level. The bill, H.R. 1215 Protecting Access to Care Act of 2017, passed largely on partisan lines, with the notable exception of 19 centrist and Liberty Caucus Republicans opposing the resolution. The bill would impose a $250,000 cap
READ MOREHow much should you pay for tail insurance? The answer may surprise you
While the high price of medical malpractice insurance premiums is enough to give most physicians sleepless nights, the problem can become even more pressing should you need to purchase tail coverage. In the past, it was common for tail insurance premiums to be anywhere from two to four times as high as standard malpractice premiums.
READ MOREThe 5 most expensive and the 5 least expensive states for medical malpractice
Medical malpractice insurance is a requirement for any kind of practice, but it can also have a massive impact on your earning potential. Many things can affect your insurance rates, including your specialty and type of practice. One of the biggest factors is where you live, since insurers use state averages to help calculate your
READ MOREDeducting medical malpractice insurance costs on taxes
Deducting medical malpractice insurance premiums depends on the nature of the taxpaying entity, the taxpayer’s income and the taxpayer’s relation to the insuring party. In general, self-employed physicians who are either owners of a practice or work as independent contractors face fewer difficulties when attempting to deduct medical malpractice insurance premiums on their tax returns.
READ MORECommon exclusions for medical malpractice insurance
Physicians save lives and assist people with the treatment they provide. However, patients who feel they are victims of medical mistakes and errors or low quality care sometimes file lawsuits against physicians, who therefore need to be covered by medical malpractice insurance. Medical malpractice insurance policies do not cover all types of medical mistakes and
READ MOREHow medical malpractice insurance liability limits vary from state to state
Medical malpractice insurance offers financial protection to physicians and others in the medical profession when medical errors occur. Similar to other forms of insurance, medical malpractice insurance policies often include liability limits that cap the amount that insurance providers pay out in claims for insured parties during any given period. Liability limits vary from state
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