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Medical Malpractice Insurance Blog

Market Research & Analysis Designed Specifically for Physicians and the Medical Industry.

Starting a Successful Private Practice – Laying the Foundation 

Opening up your own practice can be a long and laborious process but the long-term rewarding benefits can enrich your life.  Some examples of these benefits include enhanced physician-patient relationships and the freedom to practice guided by your own personal and professional goals.  Building a solid foundation in the early planning stages will prepare you for a successful practice in the future.  The necessary steps to start building this foundation are described below. 

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Doctors MUST Use the Name Listed on Their Medical License – It is the Law

Honesty goes a long way in patient-doctor relationships.  Not only does this honesty apply to when patients are talking about their health; it also applies to the name doctors use to practice medicine.  Doctors must be aware that they are legally required to obtain a Fictitious Name Permit (FNP) if they want to use a name other than what is on their license.  The Fictitious Name Permit allows the doctor to practice medicine under a different name.   

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A Guide to Protecting Your Practice

For those physicians who have chosen to practice independently, medical professional liability can be purchased directly from a professional liability company or through an insurance agent or broker.  Now, be aware that there is a difference between an agent and broker. 

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Stephen LimComment
Free Online CME Credit from California Environmental Protection Agency 

The Office of Environmental Health Hazard Assessment (OEHHA) of the California Environmental Protection Agency has announced two of its courses that offer continuing medical education credits.  These courses are recently revised free online one-hour courses.

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Medical Pandemic – A New Kind of Coverage for Hospitals

Hospitals and large medical institutions are always at a high risk of being exposed to an outbreak of a contagious disease due to the constant traffic of people with all kinds of illnesses.  If a medical pandemic were to ever happen, the amount of revenue lost due to the interruption in business extra expenses could be too big a loss to bounce back from.  This is where the new medical catastrophe “contagion” business interruption protection will be necessary. 

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The difference between Agent & Broker in California - Medical Malpractice Insurance

The most basic definition of an insurance agent is provided in Section 31 of the California Insurance Code, which states that an insurance agent is “a person authorized, by and on behalf of an insurer, to transact all classes of insurance other than life insurance.” [All statutory references herein are to the California Insurance Code or Title X of the California Administrative Code (the “Regulations”)]. In contrast, an insurance broker, is defined by Section 33, is “a person who, for compensation and on behalf of another person, transacts insurance other than life with, but not on behalf of, an insurer.” These statutory sections explain that at the most fundamental level, agents transact on behalf of the insurer while brokers transact on behalf of the insured.

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Stephen LimComment
Employment Practices Liability Insurance (EPLI) – Why You Need It and Ways to Avoid Employment-Related Lawsuits

All types of employers in any size company are sued by employees more often than you think.  In recent years, over 100,000 administrative actions were filed with federal and state regulators.  Whether you employ 1 person or 100 people, EPLI can protect you from the financial responsibilities an employment lawsuit can incur.  EPLI provides financial protection from claims that involve discrimination, retaliation, sexual harassment, etc.  EPLI can also protect you from administrative actions involving wrongful discharge, defamation, invasion of privacy, etc.  Lastly, EPLI will cover the cost for defense specializing in employment law. 

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Is Your Private Practice Fully Covered?

Running a private practice includes the storing and using of personal and private data that includes things like emails, patient files, financial records, inventories, etc.  Nowadays, with technology advancing so quickly, a risk of breach in the business network and private data is so high that private practices and doctors’ offices are now seeking out cyber liability insurance.  This insurance can cover you in the following situations: 

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 Changes Within the Medical Board of California That Can Affect You

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. 

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