The Importance of Medical Malpractice Insurance

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Medical malpractice insurance is an important part of a medical student’s curriculum. Some schools do have their own malpractice insurance that will cover students, but typically when a student is applying to med schools in the United States, more than likely the school will request proof of having a malpractice insurance policy before enrolling in classes.   As a doctor or healthcare professional, being sued for medical malpractice can be a harrowing experience, to say the least. In a report released by Medscape.com on medical malpractice, “The Experience of Getting Sued”, 1400 physicians were surveyed and they revealed why they were sued, how the trial went, what they learned, and how the lawsuit changed the way they practice medicine.  

Whether you’re a physician, gynecologist, surgeon, nurse practitioner, or medical assistant, it’s important to your career to have medical malpractice insurance.  This article will explain why. As a physician, you worked long and hard to start your medical practice. Now that you are a medical professional, all you want to focus on is making sure your  patients are well taken care of. You do the best you can, but sometimes mistakes happen.

Whether you’re a physician, gynecologist, surgeon, nurse practitioner, or medical assistant, it’s important to your career to have medical malpractice insurance.  By not having insurance, you run the risk of a medical malpractice lawsuit that can be costly and very time consuming to defend. Were you aware that to defend just one malpractice lawsuit could cost you more than the annual premium paid for malpractice insurance?  It only takes one lawsuit to disrupt your career and cause financial instability. That is why medical malpractice insurance is an important investment. 

Consider the following scenario.  You do everything you’re supposed to do as a physician. You follow all the rules and medical standards.  You are even dedicated to making sure that patient care is a priority in your clinic or hospital. However, there may come a time when a patient becomes sick or injured – or even worse, the patient passes away.  It may not even be your fault, but because that patient was under your care at one point, you have now become the subject of scrutiny. A lawsuit may even be filed against you.  

One of the things you can do to protect yourself is to purchase medical malpractice insurance.  Insurance can be purchased from an insurance broker or insurance provider. This insurance will cover litigation costs in case of a lawsuit against you.  If you are looking for insurance, make sure to shop around to get an idea of medical malpractice insurance rates and find a policy that offers you the right amount of coverage.

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