how much does dental malpractice insruance usually cost?

[coralfangs]

eh?

---

Members don't see this ad.

 

[lgreen_aci]

eh?

Good question. I'd like to know too.

I think one dentist told me it was only a few thousand a year, but I could be remembering wrong.

 

[NileBDS]

eh?

It really depends mainly on what you do and how long you have been in practice; ie; ortho/surgery, fresh/several years out of school and all that ...
I've heard that it could go up as high as 30k/yr for fresh grads (GP's).
Still, like you, I would like to know what the norm for a GP 5 years out of school with a clean record would be.

 

[drhobie7]

I've heard that it could go up as high as 30k/yr for fresh grads (GP's).

I HIGHLY doubt this. I believe the number is in the (very) low thousands. It costs me $35 for $3,000,000 of insurance while I'm in school.

 

[diagnodent]

1k-3k/year depending on how many years out and what discounts you get like risk managment, ada member,etc

 

[12YearOldKid]

Diagnodent is right. It is usually a few thousand if you are doing bread and butter stuff. If you get into IV sedation, impacted thirds and implants it could approach the $8-10,000 range but that is the highest I have ever heard of.

 

[coralfangs]

man, dentistry sounds way more tempting now comparin to medicine
less risk, less stress, waaaaaay less insurance

i was still debating between med and dent
at first i really wanted to go for med, but the admin/insurance issues are really scary in the field, my uncle told me that quite a few of his colleagues are paying 6figures insurance,
after insurance, some even earn less than the national average (overall), it isnt very fair considering all the monetary and time investment over the years as well as the stress and long hrs

 

[DrJeff]

It really depends mainly on what you do and how long you have been in practice; ie; ortho/surgery, fresh/several years out of school and all that ...
I've heard that it could go up as high as 30k/yr for fresh grads (GP's).
Still, like you, I would like to know what the norm for a GP 5 years out of school with a clean record would be.

I've got a $1,000,000/$3,000,000 policy as a GP with a clean record and 7 years of post dental school/residency practice. I pay just over $1100 a year for it via Fortress Insurance Company (they just do malpractice ins. for dentists). I don't have nitrous in my office, I don't do any ortho, and I do take out a few sets of wisdom teeth a month. My partner who has the same amounts/parameters, except that hes' been practicing for 15 years is paying roughly $1450 a year.

 

[kato999]

I've got a $1,000,000/$3,000,000 policy as a GP with a clean record and 7 years of post dental school/residency practice. I pay just over $1100 a year for it via Fortress Insurance Company (they just do malpractice ins. for dentists). I don't have nitrous in my office, I don't do any ortho, and I do take out a few sets of wisdom teeth a month. My partner who has the same amounts/parameters, except that hes' been practicing for 15 years is paying roughly $1450 a year.

You pay less and have only been out 7 as opposed to 15? I would have figured it would be the other way around.

 

[Happy2th]

When I first started in 1995, my malpractice was $1300 per year for 1mil/3mil coverage.

Today (2006), it's still about the same.

 

[DrJeff]

You pay less and have only been out 7 as opposed to 15? I would have figured it would be the other way around.

Actually the way the ins. company looks at it, the longer you've been in practice, the more patients you've seen/procedures you've done, the greater the chance of a case coming up against you.

 

[burmafrost]

It's about $3000 for basic coverage for a starting GP in Pennsylvania.

 

[mdub]

my uncle told me that quite a few of his colleagues are paying 6figures insurance,

Don't worry about that. Worry about income. Income figures are always cited after expenses.

after insurance, some even earn less than the national average (overall),

What are you complaining about? As long as everyone doesn't make the exact same amount of money, SOMEONE has to earn less than average. Yes, if the average is, for instance, $200,000, there will be people making $150,000.

 

[mdub]

Actually the way the ins. company looks at it, the longer you've been in practice, the more patients you've seen/procedures you've done, the greater the chance of a case coming up against you.

That's how legal malpractice works. All else being equal, your rates climb with your case (in your case, patient) load that's under the statute of limitations.

I don't know about dental malpractice insurance, but legal malpractice insurance is the cheapest your first year of practice.

 

[jpollei]

It really depends mainly on what you do and how long you have been in practice; ie; ortho/surgery, fresh/several years out of school and all that ...
I've heard that it could go up as high as 30k/yr for fresh grads (GP's).
Still, like you, I would like to know what the norm for a GP 5 years out of school with a clean record would be.

True...usually rates increase over the first five years. This is because when you initially start practice anything you did in school usually stays under the school's malpractice coverage. (Why you always had to get attending faculty to sign, among other reasons.) So, as a new gp or specialist, you have little or no liability as you haven't treated anyone previously under that plan and are therefore have no risk for being slapped with a lawsuit. The longer you are in practice, the more potential risk you acquire (due to treating more patients). This usually peaks off around 5 years, as do malpractice premium rates.

For new gps in my class, the largest medmal conpany in NC covers at <$600/yr for first year out; <$300/yr for residents who plan to moonlight. Those quotes for $1mil/$3mil. Not bad...one day at the office.

 

[NileBDS]

Yeah, turns out I was way off.
But $35 is less than what hygienists pay for insurance ... I know that for a fact.
Also, don't forget that schools are supervised practice facilities, where you are not allowed to do as you please, with limited procedures being covered by your policy. I wouldn't be surprised if insurance in school was that low, even though you are technically still under-training.
I am also not sure if it would make any difference if you owned you practice as opposed to being an associate.
Also, it's not uncommon to see GP's (primary practice owner) have OMFS's come in one or 2 days a month to do their big surgery cases. I wonder how that would affect the policy.
Anyways, it seems to be in the area of $2000/year for a clean GP.

I HIGHLY doubt this. I believe the number is in the (very) low thousands. It costs me $35 for $3,000,000 of insurance while I'm in school.

 

[NileBDS]

Nice insight.
Thanks for the input.

I've got a $1,000,000/$3,000,000 policy as a GP with a clean record and 7 years of post dental school/residency practice. I pay just over $1100 a year for it via Fortress Insurance Company (they just do malpractice ins. for dentists). I don't have nitrous in my office, I don't do any ortho, and I do take out a few sets of wisdom teeth a month. My partner who has the same amounts/parameters, except that hes' been practicing for 15 years is paying roughly $1450 a year.

 

[gryffindor]

Nice insight.
Thanks for the input.

I paid $800 for the year for the 1,000,000/3,000,000 policy. It is the new doctor rate for NYC from the company I used. The new doctor rate (first year out) for the entire state of Tennessee from the same company is $595, the second year out rate is $1116.

I think I am going to call Dr. Jeff's company and get some rate quotes from them.

 

[DrJeff]

I paid $800 for the year for the 1,000,000/3,000,000 policy. It is the new doctor rate for NYC from the company I used. The new doctor rate (first year out) for the entire state of Tennessee from the same company is $595, the second year out rate is $1116.

I think I am going to call Dr. Jeff's company and get some rate quotes from them.

www.fortressins.com - all the agents are listed on the web site, plus if you take their yearly online CE course on reducing liability they take another 10% off your premium. I have nothing but good things to say about them (or atleast my local agents)

 

[DrJeff]

I am also not sure if it would make any difference if you owned you practice as opposed to being an associate.

Nope, they insure each individual, doesn't matter if your the senior partner with 50 years experience or an associate on their 1st day of private practice. BTW, my partner and I actually looked at getting malpractice insurance for the practice vs. as individuals and it would have been a few dollars more for a practice policy vs. an individual policy.

Also, it's not uncommon to see GP's (primary practice owner) have OMFS's come in one or 2 days a month to do their big surgery cases. I wonder how that would affect the policy.
Anyways, it seems to be in the area of $2000/year for a clean GP.

The OMFS carries their own policy and you as the owner of the practice that has the specialist coming in sees absolutely no difference in your rates (I speak from experience on this one as the OMFS who places about 98% of the implants for my practice comes into my office and does consults and abutment placements for my patients, instead of them driving the 45 minutes to get to his office for these visits.

Yes, dental malpractice insurance in the big scheme of things is quite reasonable. It could be much worse, afterall my sister in law (a second year OB/GYN resident) is looking at malpractice insurance payments in the $90,000 a year range where she wants to practice I keep jokingly telling her that she'll pay more in 1 year for malpractice insurance than I'll pay over my entire career

 

[NileBDS]

huh ?

........... afterall my sister in law (a second year OB/GYN resident) is looking at malpractice insurance payments in the $90,000 a year range where she wants to practice ...........