Are you a registered medical practitioner or consultant?
If so, under the Australian National Law, you must be insured or otherwise indemnified for your entire scope of practice, whether via your employer’s indemnity arrangements or through your own medical indemnity insurer. This means it is mandatory for all registered doctors and nurses to have their own personal medical indemnity insurance.
Medical Malpractice insurance is also a requirement for registration with the Australian Health Practitioners Regulatory Authority (AHPRA).
But make no mistake, not all medical malpractice insurance policies are the same!
With the increasing reliance on AI and offshore administration resources for the composition of clinical reports, a number of insurers are specifically excluding claims arising from errors or incorrect commentary, diagnosis, treatment or analysis arising from these ‘external’ sources.
Additionally, if you undertake telehealth consultations, issuing of prescriptions and medical certificates, there are a range of (emerging) risks that need to be addressed; as well as to ensure that your medical Malpractice Insurance will respond to a potential claim, associated defence costs and provision of representation costs at official hearings.
The medical sector is rapidly evolving, with the efficient use of technology, however, not all medical indemnity insurance policies are keeping up with the increasing complexity of certain treatments and progress in process, efficiency and services to patients.
Are you an employer of a medical or allied health practice?
If so, you should know that individual medical practitioner’s indemnity insurance does not cover everything or protect the (employer) business. Employer medical practices, allied health businesses and cosmetic practices interact with patients and support practitioners and provide ancillary services. Practice protocols, staff errors or system failures can create or contribute to poor patient outcomes, exposing the business or practice to legal action.
As such, Medical Malpractice Insurance should be bought by (both) the medical practitioner or allied health worker, as well as the employing entity, to protect their own respective liabilities, as well a legal defence costs.
Our medical, cosmetic and aged care clients have greater business confidence and improved risk appetite as we offer advanced risk management strategies that extend beyond the traditional focus on regulatory compliance.
We also specialise in cosmetic beauty therapies and Aged Care, with our experience ensuring our clients secure (essential) sexual harassment and molestation cover.
It should be remembered, that it is not necessarily the truth of the allegation that impacts the stability of the practice, it is usually the legal cost of reputational and financial defence of the business/ practice; which is quite often separate to the interests of the individual (employed or contracted) medical or allied profession.
Business this is recommended for:
All medical practitioners, employers of medical practices, doctors, cosmetic surgeons, providers of cosmetic treatments, aged care providers, allied health workers and medical equipment suppliers.