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Individual
Professional Liability
In Massachusetts, physicians are required to carry professional liability insurance to protect against allegations of malpractice. This is the most
important insurance
a physician will buy. There are a number of plans available for professional
liability coverage, and limits vary.
PIAM has a selection of carriers and offers both Occurrence and
Claims Made coverage. (See Occurrence
vs Claims Made Coverage.) PIAM
can provide you with competitive quotes for excellent policies.
5% EMR Credit
Connecticut Medical Insurance Compnay (CMIC)
is offering an annual 5% EMR credit. Practices must meet the following
criteria to be eligible:
• EMR must be CCHIT certified
•
EMR must be in use for 1 full
year
•
EMR must be fully operational
and in use by all physicians
•
CMIC will meet at the practice
and conduct EMR utilization survey
Corporate Professional
Liability
If you have a corporation, it is highly recommended that you consider a
corporate professional liability policy. Corporate professional liability
insurance
covers liability suits against the corporation that may arise when
the contractual obligations and responsibilities of participating physicians
and managed care companies are absent or left ambiguous. It also covers
vicarious liability that can occur when employees of the corporation
are
deemed negligent in patient care decisions including denial of care,
delay of care, failure to diagnose or failure to perform.
At PIAM, we can
work with our carriers to develop a special, reduced premium medical
professional liability program specifically for your
group. Such
a program could save your members thousands of dollars in excess premium
costs each year.
Billing Errors & Omissions
PIAM has access to an endorsement that you may
add to your medical professional liability policy. The endorsement is available
only to those physicians and practices that do their own billing and it will
respond to claims alleging errors regarding duplicate billing, billing for
services not rendered or for unnecessary services, upcoding, billing for
services that do not meet the standard of care, and billing for supervision
of residents. If you "outsource" your
billing activity to another firm, the endorsement is not available.
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