Therapists like you work too hard to earn their reputation. Get the guidance you need to find the best medical malpractice coverage for your private practice.
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Medical malpractice occurs when a healthcare provider commits to an act of negligence that leads to the injury, death, or severe physical or mental pain of one of their patients.
Medical Malpractice insurance is a professional liability policy that covers healthcare professionals. For medical negligence that resulted in further health problems or death, patients may sue healthcare professionals for damages.
Medical malpractice insurance is generally required for any provider of healthcare services. This includes therapists, physicians, medical students, residents, fellows, advanced practitioners, and their associated entities.
Malpractice insurance costs for therapists and counselors such as mental health counselors, speech therapists, and other therapy and counseling professionals range from $40 per month to $500 per year.
Therapists who fail to meet the standard of care may be legally liable if their clients suffer specific harm as a result of their failure. Clients who suffer serious injuries in a suicide attempt may sue a therapist who failed to adequately treat a credible threat of suicide.
Although it is not required, many agencies do. As a therapist, you will get peace of mind and reduce financial risk by investing in malpractice insurance.
Health care negligence occurs when a medical provider fails to meet the medical standard of care. When their health care negligence causes injury to their patient, it is medical malpractice.
The two main types of malpractice insurance are "claims-made" and "occurrence." A claims-made policy will only provide coverage if it was in effect when the incident occurred and when a lawsuit was filed.
Insurance policies based on occurrences are different from claims-made policies in that they cover any claim related to an event that happened during the period covered, even after the policy has expired.