Many doctors do not realize that by forming a group of 5 or more MD’s, they can reduce the cost of their medical malpractice insurance costs by 20% or more. Also, you can get another 5% off, and CME credits, for taking risk management classes through your malpractice insurer. Additionally, by being board certified you can get another 5% off. Lastly you can add your PA’s/NP’s to the group policy for no extra charge, so they will not be charged any premiums.

Let’s look at a case study:
5 Surgeons, who were with the same insurer, formed a corporation to contract with PPO’s, IPA’s and HMO’s. Each MD maintained his/her own practice.

Originally, the combined premiums totaled $275,000. We negotiated a group discount with a prospective risk management credit (the insurer gave them a RM credit with the promise that all doctors would complete the online course within 12 months).

After discounts the combined premium totaled $165,000. The doctors did not have to complete applications, or move insurers. They received their own bills, and each doctor saved $22,000 per year.

These are some of the creative ideas that we provide at HCP National. We are “The Health Care Industries Insurance Brokers.” We are experts in group medical malpractice insurance and solo surgeon malpractice and obstetrician malpractice in CA, AZ, CO and NV.

NOTE THE ABOVE IS A GENERAL DISCUSSION ABOUT HOW COVERAGES MAY WORK. YOUR INSURANCE POLICY AND ALL ADDENDUM ARE THE ONLY AUTHORITY OF HOW YOUR COVERAGE WORKS. DO NOT RELY ON THIS ARTICLE AS AN EXPLANATION OF YOUR COVERAGE. HAVE YOUR ATTORNEY REVIEW YOUR ENTIRE POLICY WITH YOU TO DETERMINE WHAT IS AND ISN’T COVERED.