When it comes to purchasing insurance, physicians tend to focus solely on professional liability insurance. This is understandable considering it applies to the risk that is most worrisome as well as it being the largest premium they will have to pay. There are, however, other kinds of insurance that can be just as crucial to protecting their assets and securing their practice. Physicians may not be aware of this but certain forms of coverage are required by law. Many practices do know what is required or needed until it is too late. Not all practices need every form of coverage but the following is a simplified guide to the most common types of insurance physicians purchase for their practices.
Effective January 1, 2020, all physician applicants, regardless of which medical school they attended, will have to complete three years of Board-approved postgraduate training. For those residents who participate in a California approved postgraduate training program will receive a postgraduate training license created by this new law.