You’re a very busy chiropractor. With so much to do in a limited amount of time, you may only think about malpractice insurance once a year—at your renewal. You may even say to yourself, “I provide the best possible care to my patients and my records are impeccable. I’m not going to get sued, so why do I have to pay for malpractice insurance?”
You can practice the best of care, follow every protocol and keep meticulous records, but that still won’t prevent a claim being filed against you. Yes, all those measures may reduce your risk, but ultimately, it’s out of your control and in the hands of your patient. Simply put, claims are filed every day; some are legitimate and others are frivolous. You shouldn’t live in fear of being sued, but you also shouldn’t ignore the fact that it’s a real possibility.
You may believe that if you’re uninsured or “go bare,” you’re less of a target of being sued. You may even think that when your patient’s attorney finds out you don’t have malpractice insurance, he/she will drop the case because there’s less potential for substantial financial gain if the case is won. While this may happen in very rare instances, the fact is that the attorney can still go after your personal assets, livelihood and reputation.
Another factor to consider is that a malpractice claim can be filed against you after you retire. Imagine if you were traveling the world and then came home to find out that you were being sued by a patient you treated before your long-awaited retirement. Everything you worked so long and hard for and all the finances you saved to cover your expenses during retirement could be in jeopardy. However, if you had a claims-made policy while you were practicing and purchased tail coverage after the policy was terminated, but the incident happened during the time the policy was active, the policy may protect you against that claim.
As you can see, a patient can file a malpractice claim against you whether or not you carry malpractice insurance. It doesn’t matter whether you are an actively practicing chiropractor or retired—the threat of a lawsuit is still a concern. This can seem daunting, but there’s a simple solution that can give you peace of mind–a solution that’s not only necessary, but essential to the success of your practice. It’s to continuously carry malpractice insurance while you’re actively practicing and obtain tail coverage when you retire. With malpractice insurance, you can rest assured that you have a team of professionals helping protect you and your practice should a claim arise.
Don’t let one lawsuit take away the practice, reputation and lifestyle you worked tirelessly to build. The price of a malpractice policy is minimal compared to the financial loss a lawsuit can bring. Ask yourself this question, “Can I afford to be uninsured?”
If you don’t have malpractice insurance with OUM, now is the time to obtain coverage. Our team of knowledgeable professionals is readily available and happy to help you. At OUM, we’re with you. Every step of the way.
Contact us today for coverage information. Fill out our online form to get a no-obligation quote.
“OUM” and “OUM Chiropractor Program” do not refer to a legal entity or insurance company but to a program or symbol of a program underwritten, insured, and administered by ProAssurance. The information contained on the OUM Chiropractor Blog does not establish a standard of care, nor does it constitute legal advice. The information is for general informational purposes only. We encourage all blog visitors to consult with their personal attorneys for legal advice, as specific legal requirements may vary from state to state. Links or references to organizations, websites, or other information is for reference use only and do not constitute the rendering of legal, financial, or other professional advice or recommendations. All information contained on the blog is subject to change.