All healthcare facilities and practitioners—even your small practice—can benefit from owning medical malpractice insurance. This type of insurance policy offers financial protection if a patient makes a claim against your practice for any number of circumstances that fall under the umbrella of malpractice. This may include misdiagnoses, poor treatment, bad medical advice and more.
Your small practice likely has a limited budget to work with, so you may be wondering if you really need this coverage. Before writing it off as an unnecessary expense, consider these three benefits of medical malpractice insurance.
1. You never know when a malpractice claim may be made against you or your facility. If that scenario does come to pass, this coverage can help fund your legal defense, along with any awarded settlements.
2. Even highly educated and skilled doctors can make mistakes or misdiagnose an ailment. Having medical malpractice insurance in place can offer the necessary protection if a mistake does occur in your practice.
3. With numerous healthcare providers available to the public, patients are able to carefully select the doctors they wish to see. Having medical malpractice insurance in place shows fiscal responsibility, and also informs patients they’re covered if something doesn’t go quite as planned.
Ready to learn more? Talk to your independent insurance agent about adding this coverage to your existing insurance portfolio today.
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