4 Reasons to Get Medical Malpractice Insurance

Doctors are known for their responsibility in promoting good health to the best of their abilities. However, some people may look past the fact that they are also human. The possibility of an error in a physician’s trusted area of expertise could tarnish their reputation indefinitely. But how often do doctors make mistakes?

Worldwide, there are about 43 million medical malpractice cases that occur on a yearly basis. These numbers are no joke, and prove how critical it could be to get the best malpractice insurance policy out there.

If you’re doubtful of availing for liability insurance, this article will explain four reasons to convince you otherwise:

Income protection

Without insurance, doctors will have to cover for damages done to a patient under their care. The cost of legal fees can be expensive, and can be concerning if you’re on the losing side of a medical malpractice case. A key reason to get malpractice insurance is making sure that your personal income is untouched.

It helps defend your reputation

Doctors spend years building trust with their patients through hard work and results. Being presented with a medical malpractice case can ruin the reputation that you have been trying to build up. Getting malpractice insurance helps show wronged patients and clients that you’re willing to take responsibility in righting the wrongs that happened under your watch.

Mistakes are possible

Anyone can make a mistake. It doesn’t matter if you’re newly-licensed or experienced, the possibility of making a mistake is there. Patients could have worsened conditions (e.g, severe injuries, death) from your recommendations and could accuse you of negligence.

It’s understood that doctors never intend to make such mistakes. Nevertheless, you should still take responsibility for their well-being. So long as it was an accident, getting malpractice insurance should cover for possible damages.

It’s also good to remember that even if mistakes do happen, caution should still be shown to avoid any conflict. Wrong treatment of patients on your part could lead to serious injuries, and even death.

Peace of mind

Clients could make negligence claims and sue you at any given time, making for a burden and source of stress. However, if you get malpractice insurance, you could be given some peace of mind with the coverage it provides for any legal issues.

Conclusion

Investing in medical malpractice insurance not only secures your well-being, but also your patients’. As a doctor, it is understood that you have taken an oath to treat the ill as best as you can. This doesn’t mean that you don’t have to take losses yourself. Being able to protect both parties from unforeseen circumstances is a responsibility you have to take.

Mistakes are possible, but as humans, we can only learn from them. Protect yourself, your reputation, and your peace of mind. Don’t wait for disaster to strike before you get well-rounded coverage and thoughtful policies from an established non-life insurance company in the Philippines. Get medical malpractice insurance today!

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