Malpractice for part time side gig

[BulgeDaTwine]

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Anyone find competitive malpractice for a side gig in private concierge practice? Very occasional. Maybe… 3-4 cases a month. Urgent care level acuity.

Best quote I got so far was MiEC, five year policy, first year at $2k but with escalators up to $6k at end of year five (not sure why this is so).

 

[cyanide12345678]

I literally was about to post this same question yesterday. I had to do a double check to see if i was the author of this post.

I put out a request for the Cunningham group yesterday to get me quotes from all major malpractice carriers. So i should be seeing a few quotes soon.

The other option that someone else posted in another post was pushhealth which just charged $5/encounter to the patient for malpractice coverage, though their policy has a 20k deductible, i doubt other policies have a 20k deductible. Even a lawsuit that is frivolous and it’s dismissed, the lawyer cost is probably going to be in excess of 20k.

Did the clause about escalators have an option where you could cancel the policy or were you stuck with their policy for 5 years and essentially couldn’t get out despite their rate increases?

What EMR have you looked into? I’ve looked at pushhealth, drchronos, cer.bo (used by a local weight loss clinic here), simple practice, charm health, get healthie and elation health.

Push seems to be the lowest hanging fruit and the easiest solution

 

[shaggybill]

What EMR have you looked into? I’ve looked at pushhealth, drchronos, cer.bo (used by a local weight loss clinic here), simple practice, charm health, get healthie and elation health.

Push seems to be the lowest hanging fruit and the easiest solution

I use Practice Fusion for my side hustle EMR. Super easy and intuitive. I use UpDox which integrates with Practice Fusion to create and send patient intake forms to patients. Once they submit the form, UpDox allows you to send the forms directly into the patient's chart in Practice Fusion. It's all HIPAA compliant. I think I pay $150/mo for the EMR and $30/mo for UpDox.

Practice Fusion gives you the ability to create intake forms, but they are super meh and I didn't like it at all.

 

[cyanide12345678]

I use Practice Fusion for my side hustle EMR. Super easy and intuitive. I use UpDox which integrates with Practice Fusion to create and send patient intake forms to patients. Once they submit the form, UpDox allows you to send the forms directly into the patient's chart in Practice Fusion. It's all HIPAA compliant. I think I pay $150/mo for the EMR and $30/mo for UpDox.

Practice Fusion gives you the ability to create intake forms, but they are super meh and I didn't like it at all.

What are you using for malpractice insurance?

 

[shaggybill]

What are you using for malpractice insurance?

I have malpractice through my main job through Professionals Advocate. The policy is all in my name, and my employer is only on there as an agent so they can pay the bill. When I started my side gig I called up the insurer and asked what it would cost to add my clinic to the policy. They said 0 dollars, so I said let's do it.

 

[BulgeDaTwine]

Well, to update this thread, I've now spoken to three different malpractice companies, and they're all the same price within a few dollars.
Tell me there isn't a lack of competition in this space!

The parameters were that I told them in good faith that I have full malpractice coverage for my main gig as an ER pit doc, and I wanted something for seeing literally 8-10 patients per month, all low acuity complaints that could be handled with an otoscope and a 10 minute H&P. I am in California and I have a clean malpractice history. All state they applied a "50% reduction for part time discount" to the rate schedule. I guess they escalate because of cumulative exposure over time (their words).

MIEC
The Doctor's Co
Cooperative of American Physicians

2023: $2475
2024: $3500
2025: $4600
2026: $4700
2027: $4775


This seems pretty high for part-time, very occasional work.

 

[cyanide12345678]

Well, to update this thread, I've now spoken to three different malpractice companies, and they're all the same price within a few dollars.
Tell me there isn't a lack of competition in this space!

The parameters were that I told them in good faith that I have full malpractice coverage for my main gig as an ER pit doc, and I wanted something for seeing literally 8-10 patients per month, all low acuity complaints that could be handled with an otoscope and a 10 minute H&P. I am in California and I have a clean malpractice history. All state they applied a "50% reduction for part time discount" to the rate schedule. I guess they escalate because of cumulative exposure over time (their words).

MIEC
The Doctor's Co
Cooperative of American Physicians

2023: $2475
2024: $3500
2025: $4600
2026: $4700
2027: $4775


This seems pretty high for part-time, very occasional work.

You’re actually seeing fairly reasonable quotes.

I’ll be getting quotes in a week or so, I’m waiting on getting all my claims records in order before filing paperwork.

But yes, I’m expecting to spend 3-4k on malpractice for a part time concierge practice that I’m very very very strongly considering.

Why are you not using a broker? Even my insurance person was like ‘hey make your life easy and just go with a broker’ - also she was very clear that usually they are all going to be very similarly priced.

Also, are the quotes that you are seeing, are they occurrence or claims made policies? Is there any deductible?

I’ve also talked with the Cunningham group which is a broker, according to them a 30 percent annual increase in cost is very standard as well.

My personal long term goal is to replace my EM income, so time will tell how this goes.

 

[cyanide12345678]

Well, to update this thread, I've now spoken to three different malpractice companies, and they're all the same price within a few dollars.
Tell me there isn't a lack of competition in this space!

The parameters were that I told them in good faith that I have full malpractice coverage for my main gig as an ER pit doc, and I wanted something for seeing literally 8-10 patients per month, all low acuity complaints that could be handled with an otoscope and a 10 minute H&P. I am in California and I have a clean malpractice history. All state they applied a "50% reduction for part time discount" to the rate schedule. I guess they escalate because of cumulative exposure over time (their words).

MIEC
The Doctor's Co
Cooperative of American Physicians

2023: $2475
2024: $3500
2025: $4600
2026: $4700
2027: $4775


This seems pretty high for part-time, very occasional work.

Do you think you’re going to attempt to grow this side gig? If yes, at some point it might become worth it. Also depends a lot of revenue you generate per patient. If you generate 150 per patient, then paying $20 per patient in insurance isn’t necessarily the end of the world.

 

[southerndoc]

Check with your state medical society. Some have their own malpractice coverage. The Medical Association of Georgia is one such example. MAG has its own policy that is often lower than other policies.