Anesthetizing patients is a major responsibility, and the responsibility comes with potential risk. Anesthesiologists in Massachusetts may be held liable if they make an error that results in harm to one of their patients, and that liability can have significant financial costs. Purchasing anesthesiologist insurance may give these medical doctors with financial protection if they’re involved in a covered incident.
Anesthesiologist insurance is a specialized form of medical malpractice insurance that’s uniquely designed to meet the needs of anesthesiologists. Because this is such a specialized type of insurance, anesthesiologists should work directly with a knowledgeable insurance agent when selecting a policy.
Anesthesiologists working in Massachusetts are generally required to have anesthesiologist coverage, and not carrying insurance can lead to a host of legal, licensure and future insurance problems. Even if no incident occurs when an anesthesiologist doesn’t have insurance in place, merely practicing without the necessary coverage can lead to career-altering consequences. Importantly, this insurance normally isn’t suitable for other types of medical doctors. This is a specialized form of professional liability insurance for anesthesiologists -- and not for other doctors. Primary care physicians, surgeons and other specialists should likewise generally need professional liability insurance, but they should look for a policy that better aligns with their medical services and associated risks.
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Whether anesthesiologists or healthcare facilities pay for an anesthesiologist’s professional liability insurance can differ from one situation to the next.
Many healthcare facilities will add anesthesiologists to their group malpractice policy, and some will even cover the cost of premiums as a perk of providing care at the facility. When facilities provide coverage, the coverage they carry is usually sufficient for care that’s given while at the facility.
Any coverage that a facility provides will likely only apply when an anesthesiologist is working at the facility, though. The coverage likely won’t apply to side work that’s done elsewhere or to work that’s done after an anesthesiologist leaves their employment at the facility. Before beginning work elsewhere, anesthesiologists should make sure they have sufficient coverage for that work in place.
An insurance agent who’s familiar with professional liability insurance for anesthesiologists can help anesthesiologists review their situation and make sure enough coverage is in place.
Premiums for anesthesiologist coverage are considerable, although they usually aren’t as much as some other doctors pay for professional liability insurance. Exactly what professional liability insurance for an anesthesiologist costs is dependent upon factors like the anesthesiologist’s experience, loss history and policy limits.
The easiest way to find out how much insurance would cost in a particular situation is to consult an independent insurance agent. An independent agent can request quotes from multiple insurance companies since they act independently, and this makes comparing different policies’ coverages and premiums easy.
Securing anesthesiologist coverage often doesn’t take too long, especially if there are no work history issues and a knowledgeable agent assists with the process. This isn’t something that should be rushed, however.
As soon as anesthesiologists know they might need new insurance in the future, they should contact an insurance agent. This allows for the maximum amount of time to find a policy, and the start date on a policy can normally be adjusted for when coverage is needed.
For help finding anesthesiologist insurance in Massachusetts, contact the independent insurance agents at The Feingold Companies. Our agency has worked with many doctors in the state, and we have the expertise necessary to help you find a good anesthesiologist policy.