Medical Malpractice Insurance for Locum Tenens and Moonlighting
Your Medical Malpractice Specialists
Healthcare delivery is a growing industry and is in constant need of high level professionals to provide a variety of services. Clinics with specializations can face staffing challenges due to traditional reasons like professionals taking vacations, staff retirements, staff departures due to relocations, and employee illness or some nontraditional like physicians taking time to do work internationally in the mission field.
The temporary departure of these individuals results in a professional void that must be filled. This is traditionally accomplished by agreeing to terms with an outside certified professional to fill the role via Locum Tenens or by Moonlighting.
In either situation, medical malpractice or professional liability coverage may exist for a the individual at their main place of employment but that coverage may not follow them to this temporary endeavor.
Why do you need medical malpractice coverage for Locum Tenens or Moonlighting work?
The cost of any medical malpractice claim for an individual working as a provider in a locum tenens or moonlighting capacity can be burdensome if no medical malpractice / professional liability coverage is in place. The costs of a claim include third party damages and legal defense costs as well as possible license forfeiture. The reputation of the individual professional involved in the claim can be stained for an extended period of time.
This holds true even if the professional is not directly responsible for a claim but was only named as a party in a suit. In today’s litigious environment, plaintiff attorneys could include several parties in a suit that, even if found not negligent, could incur a significant legal defense bill.
Why is the right coverage important?
As with most health care offerings, an uncovered claim can lead to capital strain and reputational damage while having long-lasting effects.
It is necessary that professionals serving in a locum tenens or moonlighting role procure a policy that addresses the specific services being filled and provided.
Carriers are familiar with these temporary agreements and some are more comfortable with several areas of practice while others are more limited. It is necessary to ensure the policy matches the specialization of the individual.
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How much will medical malpractice for locum tenens or moonlighting services cost?
The cost of insurance for locum tenens and moonlighting services depends on a variety of factors. These factors include, but are not limited to, the specific service provided, the experience of the individual, the geographic location of the operation, the duration of the services being offered, and the claims history of the individual.
Further, underwriters will evaluate if the terms of the temporary locum tenens or moonlighting engagement align with the terms of the policy by providing the coverage for the contracted individual without extending coverage to outside parties and outside scope.
All of these factors come together to allow underwriters to determine first, if they will entertain and quote the risk, and, second, how much they will charge for coverage for the individuals work in a locum tenens or moonlighting role.
How can a professional reduce the cost of medical malpractice for Locum Tenens or Moonlighting work?
Individuals working as locum tenens or in a moonlighting role can best manage the cost of medical malpractice insurance by being proactive in risk management strategies while maintaining a clean claims history.
One of the first questions an underwriter will ask is “Have the individual has any claims?” For some carriers, an affirmation of claim activity could lead to a rejection of the application leading to reduced carrier competition.
A solid strategy in keeping a claims-free resume is to implement industry-based best practices for loss prevention and risk management. While healthcare delivery is constantly evolving, there are several steps carriers have identified that can assist in reducing the probability of a claim occurring.
How can Southeast Insurance assist in procuring medical malpractice / professional liability for my Locum Tenens or Moonlighting engagements?
Southeast Insurance has several product options that provide the customized terms for locum tenens or moonlighting work with some having risk management support tools to aid in your endeavor.
We would be happy to answer your questions on this specialization. Please contact us by submitting the form below.
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SouthEast Insurance, Inc
154 Porter Ave
Biloxi, MS 39530