Physicians provide an invaluable service to the throngs of patients they attend to year in and year out. They are required to do some of the most intensive work known to mankind when it comes to healing the human body. From colds and allergies, to broken bones, to the more serious conditions that can leave a person decimated and clinging to life; such responsibility must be applauded, and when they are successful they are heroes to family members who wait patiently for good news after every procedure and operation.
But the healthcare landscape has changed drastically over the years, and unfortunately, for many doctors and nurses, the threat of litigation from mistreatment, misdiagnosis, and other claims of negligence and doctors malpractice have made a tough job all the more difficult. Add to the matter that physicians are facing tougher compliance requirements along with a multitude of new regulations and reforms and the picture gets more and more distorted.
The rise in cyber risks adds yet another variable
The new technology, while making their jobs easier and their practices run more smoothly, adds another layer of risk. The use of electronic recordkeeping and billing has led to concerns over data breaches and medical identity theft, which only complicates things more. And tougher privacy requirements are also changing the way physicians practice medicine. The result has been an increase in lawsuits that come with tougher penalties and fines being levied under HIPAA and the HiTech Act.
Physicians need to acquire cyber liability insurance as part of their professional liability strategy in order to properly protect themselves. That way, when there is some type of breach, or cyber theft occurs, their cyber liability policy will provide their practice with the financial security needed to pay for patient notification, defense costs, credit monitoring, and other issues surrounding this intrusion.
Because cyber crime has made things increasingly difficult for those operating in the medical field, professional liability insurance coverage can help. However, this coverage is complex and requires the knowledge of a specialist who understands the exposures and the type of products available. There are many local agencies that specialize in this particular field of coverage that can help physicians secure the exact type of policy to fit their needs.
Trust an experienced agent who knows the ins and outs of doctors malpractice concerns and can create a package that aids in risk aversion and is designed to address the specific risks a doctor may face in his or her area of specialty.