Reference Career Insurance

[kayal]

Please elaborate on advice regarding coders carrying their own malpractice insurance, such as like nurses and doctors that carry their own. Thanks.

 

[Laureen]

Once you get out there and start coding it is a good idea to have. Even in your employer covers you whose to say that if they got sued by a patient they won't turn around and sue you as the coder?

The company Marsh on the AAPC website is the one with the best rates last time I checked.

Here's a good article on the AAPC site discussing this better than I could:
http://news.aapc.com/index.php/2013/01/malpractice-insurance-why-does-it-matter/

Here's a snipit

Deciding between two types of malpractice insurance—either an occurrence based policy or a claims-made policy—can save you tens of thousands of dollars in legal bills and settlements.
An occurrence based policy provides coverage against incidents that occurred during the term of the policy, regardless of when the claim is made. The physician can submit a malpractice claim while the insurance policy is active or after it has expired, as long as the physician was covered with an active policy at the time the actual incident occurred.
A claims-made policy refers to a policy covering the insured for any incidents that occur during the policy period. Claims filed after the policy ends will not be covered, even if the actual event occurred during coverage.

 

[Carolyn Heath]

This is a great article which defines the difference between an occurrence based policy and a claims-made policy. Thanks for sharing, Laureen.

 

[kayal]

Thank you for the article. That's the same way it is in nursing. In nursing school, I was taught that it is always best to carry your own insurance rather than depending on the employer's coverage alone.