Malpractice?

[DrChandy]

---

Members do not see this ad.

I'm confused. Does the national average salary for EP's include malpractice insurance, or is malpractice insurance not factored into it?

 

[DrQuinn]

I'm confused. Does the national average salary for EP's include malpractice insurance, or is malpractice insurance not factored into it?

Not factored into it.

Q

 

[NinerNiner999]

Yep - average salaries are reported after expenses and before taxes. They do not include bonuses, profit sharing, or other incentives. Base salary only...

 

[hflessa]

any idea what the nat'l avg cost of malpractice is annually?

 

[DrQuinn]

I have no idea. Because I don't pay it. I don't see it on a paystub. And I don't care. Its different from nearly all other specialties (where you own your own practice, and are paying your own insurance).


Q

 

[trkd]

I have no idea. Because I don't pay it. I don't see it on a paystub. And I don't care. Its different from nearly all other specialties (where you own your own practice, and are paying your own insurance).


Q

So, if I have understood this correctly up until this point in my career, we essentially never have to worry about malpractice because we generally are working in hospitals and the hospital covers this. Correcto?

 

[SolidGold]

So, if I have understood this correctly up until this point in my career, we essentially never have to worry about malpractice because we generally are working in hospitals and the hospital covers this. Correcto?

I think malpractice is something you don't have to worry about if you go into academics since you'd usually be covered under the umbrella of the institution's malpractice insurance, hence a lower salary. Medical institutions have malpractice that covers everyone from the nursing students and lowly MSI to the PGY-1's to PGY-infinity, and all of the attendings. Students here were covered up to $250,000 up until a few months ago, then they increased it to $1,000,000 after they realized we were not covered enough to go on externships that required a minimum of $1,000,000 in coverage by their home med school.

Community hospitals don't need such a wide malpractice coverage because they are not training anyone. So working out in the community is different since you most likely will pay your own malpractice insurance, hence the higher salary.

 

[GeneralVeers]

You don't always have to pay for your own malpractice in the community setting. If you're part of an EM group of physicians, the group typically buys its own malpractice coverage.

 

[Hallm_7]

So, if I have understood this correctly up until this point in my career, we essentially never have to worry about malpractice because we generally are working in hospitals and the hospital covers this. Correcto?

You may never have to worry about actually buying it, but you'll still have to pay for. You just may not realize you're paying for it. If you're a hospital employee then the hospital views you as two things financially: a revenue generator and a cost generator. They will always make sure your revenues earned are more than your costs incurred (it even rhymes!). If your costs goes up because of malpractice premium increases then you either have to make it up with more revenue or they will cut your costs in other areas like salary and benefits.

The same thing happens if you contract out to a hospital. Your group may buy group insurance, but an increase in premiums will demand an increase in revenues or a decrease in salary and benefits.

 

[c.bear]

As med students in TX we often after to buy extra insurance to do out of state externships since we are insured for a mind boggling 25,000. Just a little factoid.