Malpractice insurance

[90dayMD]

Hey forum.

So i'm a fellow currently. My fellowship currently pays my medmalpractice. I have been offered a job which I think is interesting, and can be done PRN/via telehealth. I think it could be a good experience/opportunity. The owner of the company says that they have the physician pay the med malpractice for that position for 6 months, and then they pick it up if the physician continues with them.

The consults supposedly take about 10 minutes and pay $30/consult. They are mostly for Thoughts?

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[ThoracicGuy]

Hey forum.

So i'm a fellow currently. My fellowship currently pays my medmalpractice. I have been offered a job which I think is interesting, and can be done PRN/via telehealth. I think it could be a good experience/opportunity. The owner of the company says that they have the physician pay the med malpractice for that position for 6 months, and then they pick it up if the physician continues with them.

The consults supposedly take about 10 minutes and pay $30/consult. They are mostly for Thoughts?

I don't like that idea, personally. Have you looked into how much that would cost and how many consults you would have to see to make you profitable?

 

[90dayMD]

I don't like that idea, personally. Have you looked into how much that would cost and how many consults you would have to see to make you profitable?

No I am not sure how much that would cost.

 

[Raryn]

No I am not sure how much that would cost.

The cost of malpractice insurance is highly dependent on state/county and specialty. I'd ask them what the cost typically is for that job in that state.

It could be anywhere from $5k/year (for a low risk specialty in a tort reform state) to $250k++ a year (for ob/gyn in South Florida)

 

[90dayMD]

The cost of malpractice insurance is highly dependent on state/county and specialty. I'd ask them what the cost typically is for that job in that state.

It could be anywhere from $5k/year (for a low risk specialty in a tort reform state) to $250k++ a year (for ob/gyn in South Florida)

Yeah I understand, this is non-clinical in nature, and it's PRN. I guess i don't even know where i'd start.

 

[rokshana]

Yeah I understand, this is non-clinical in nature, and it's PRN. I guess i don't even know where i'd start.

If it’s prn and not clinical, then they shouldn’t have any problem picking up the med mal...would say no otherwise.

 

[90dayMD]

If it’s prn and not clinical, then they shouldn’t have any problem picking up the med mal...would say no otherwise.

Well that was kind of my point - they are saying that they are willing to pick up the med mal after 6 months and forward, but in the first six month probationary period they expect the physician to pay it because it's a "contractor" position.

 

[ThoracicGuy]

Well that was kind of my point - they are saying that they are willing to pick up the med mal after 6 months and forward, but in the first six month probationary period they expect the physician to pay it because it's a "contractor" position.

When I worked a bit as a 1099 contractor, I still had malpractice paid. I suspect they don't have many people last more than 6 months, so they don't want to pay for it.

They should pay for it.

 

[90dayMD]

When I worked a bit as a 1099 contractor, I still had malpractice paid. I suspect they don't have many people last more than 6 months, so they don't want to pay for it.

They should pay for it.

that's what i'm thinking. on the one hand I am thinking of saying nope because of this - on the other hand I am interested and think it could be an interesting option. I just don't even know where I would get malpractice prn insurance.

I do agree they should pay for it.

 

[ThoracicGuy]

that's what i'm thinking. on the one hand I am thinking of saying nope because of this - on the other hand I am interested and think it could be an interesting option. I just don't even know where I would get malpractice prn insurance.

I do agree they should pay for it.

You could always ask them who people use and then give them a call to find out what your rate would probably be for the six months. I just worry if they are skimping on this, what else is not going to be good with this job.

 

[90dayMD]

You could always ask them who people use and then give them a call to find out what your rate would probably be for the six months. I just worry if they are skimping on this, what else is not going to be good with this job.

Yeah I have thought about this. Sometimes jobs seem dicey and they turn out great. ITs hard to know. I am looking for some side income given fellowship and stuff so doing something telehealth and PRN is kind of what i'm looking for. But they seem very firm on this.

 

[NotAProgDirector]

If it's non clinical, then you don't really need medmal. If it's clinical, then you do -- and you need a license in the state that the patient is located.

My guess is that this is for MJ card approval. I wouldn't touch that unless you're really caring for patients.

 

[90dayMD]

If it's non clinical, then you don't really need medmal. If it's clinical, then you do -- and you need a license in the state that the patient is located.

My guess is that this is for MJ card approval. I wouldn't touch that unless you're really caring for patients.

No not MJ at all. It's essentially for screening for genetic testing. In other words, whether patients qualify for the genetic testing or not. If they do and they require counseling after their genetic testing is done, then they get genetic counseling but I wouldn't be doing that part.

 

[rokshana]

I work locums and am an independent contractor...my med mal is paid for by the locums company.

Anytime I work directly with someone/hospital, I tell them from the get, I don’t have med mal and they would need to pay for it... haven’t have had anyone say no...if they are not paying for it, something is up.

 

[90dayMD]

I work locums and am an independent contractor...my med mal is paid for by the locums company.

Anytime I work directly with someone/hospital, I tell them from the get, I don’t have med mal and they would need to pay for it... haven’t have had anyone say no...if they are not paying for it, something is up.

I don't disagree with you - the company is saying that they pay it after 6 months, but just in case it's not a good fit in the 6 month probationary type period. the company said well we hire independent contractors so you are responsible for the costs associated with this. I am not quite sure why they wouldn't pay for the initial 6 months. I am not even sure you can pay for 6 months of insurance?

 

[RangerBob]

How many of these consults do you plan to do?

I pay $4k/yr for malpractice insurance as a solo PM&R physician in a tort reform state. I’d have to do 134 consults at $30 each to break even with regards to medmal. (Or 67 if we’re just looking at six months). Will they give you that many consults? Are you up for doing that many during your fellowship?

Maybe some insurance companies will charge you less since it’s part time, but at a certain point it’s not worth it to them to underwrite.

I agree with the others-if the consults are being arranged through this agency and you’re not a true solo doc, they should cover the cost of insurance. Make sure that includes tail insurance (get that in writing, in the contract), which can be double the yearly premium.