Telemedicine Malpractice Insurance

For medical organizations, facilities and healthcare professionals
A doctor performs a telemedicine consultation. Telemedicine malpractice insurance is a must for this physician.

Quote for Telemedicine Malpractice Insurance

do you need telemedicine malpractice insurance?

If your work involves any of the following tasks, consider getting this insurance:

  • Giving medical advice and diagnosing patients online, when you don’t meet them in person.
  • Prescribing medications electronically, without seeing the patient face-to-face.
  • Using technology to remotely monitor a patient’s vital signs and overall health.
  • Providing mental health services like therapy or counseling online.
  • Electronically offering specialist referrals and second opinions.

These activities are part of telemedicine, which traditional medical malpractice insurance often doesn’t cover.

Why Specialized Insurance is Important

Because telemedicine is performed remotely, it is crucial to have insurance that addresses these risks.

Until recently, few insurance providers offered this specific insurance, but it’s now becoming more common. Telemedicine insurance is new and evolving, so it’s important to carefully review the detail in any policy. Make sure that your particular activity is not excluded and there are no restrictions on it.

Choosing the Right Insurance Broker

In this changing environment, it’s safer to work with a specialist broker, than directly with the insurance company. Westwood Insurance Group constantly check with different carriers and stay updated on policy changes from various insurers. That way we can always recommend the most suitable policy for you, one that provides the best protection.

what does telemedicine malpractice insurance cover?

Policies vary from Carrier to Carrier as this insurance evolves to meet market demands, but it should offer coverage for:

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Physical Harm Stemming from Various Sources

Including injuries resulting from healthcare services, tech-related activities, cybersecurity incidents, and system failures.

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Technical Errors and Oversights

These are mistakes or negligence directly related to technological aspects within healthcare services.

 

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Non-Performing Products

Coverage for instances where digital health products or software do not function as intended.

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Cybersecurity and Privacy

Customized provisions that address the unique cyber vulnerabilities of digital healthcare operations.

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General and Employer's Liability

This covers standard liabilities, legal costs, and additional obligations that an organization may incur.

 

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Intellectual Property Risks

Protection against violations related to intellectual property rights and infringement

Understanding the Risks

Digital healthcare services handle vast amounts of sensitive data every day, making them attractive targets for cybercriminals. They also rely heavily on technology, which exposes them to several risks, including:

  • Malware and Ransomware: These are types of malicious software that can damage or infiltrate your systems without authorization.
  • Phishing Attacks: These are deceptive attempts to obtain sensitive information from employees, often through misleading emails.
  • Device Failures: These occur when healthcare devices malfunction, which can endanger patients.
  • System Disruptions: These are interruptions in healthcare services caused by software or hardware problems, potentially affecting patient care.

Understanding these risks is crucial

These risks highlight the need for entities involved in digital healthcare to have comprehensive telemedicine insurance. As the sector grows, the strategies to mitigate these risks must evolve accordingly.

Telemedicine Malpractice Insurance is essential for many healthcare providers

Every medical facility involved with eHealth or providing remote care via the internet needs malpractice insurance for telemedicine.

For those looking to minimize potential liabilities in telehealth, the Doctors Company offers a useful checklist. You can use this resource to compare your current processes and ensure they meet safety standards. Click here to download the checklist.

who needs telemedicine malpractice insurance?

Telemedicine malpractice insurance is vital, not only for traditional medical practices or telemedicine practitioners, but also for any entity using digital healthcare technologies routinely. This includes: Emergency Medical CentersCancer Treatment CentersEmergency Medical CentersCancer Treatment Centers, Wellness Clinics, Medical SpasDialysis Centers, diagnostic labs, Testing Services, and even Telehealth Startups.

telemedicine malpractice insurance is essential for medical professionals consulting remotelyMedical Professionals Who Require Telemedicine coverage:

  • Primary Care Physicians: including doctors who provide general consultations, follow-ups, or check-ups remotely via telehealth platforms.
  • Specialists: Including cardiologists, endocrinologists, neurologists, and others offering specialized consultations remotely.
  • Mental Health Professionals: Such as Psychiatristspsychologists, and therapists providing remote counseling, therapy, or evaluations.
  • Nurse Practitioners: Advanced practice nurses who deliver care or monitor medical devices via the Internet of Things (IoT) remotely.
  • Physician Assistants: Practitioners who are working under a physician’s supervision, providing remote patient care.
  • Dermatologists: Specialists who assess skin conditions and other issues using high-resolution images or live video.
  • Radiologists and Pathologists: Professionals who interpret medical images or discuss lab reports, often remotely.
  • Pediatricians and Geriatricians: Doctors using telehealth to consult with very young or elderly patients who are unable to travel.
  • Nutritionists and Dieticians: Experts providing dietary consultations or meal planning via telehealth.
  • Physical and Occupational Therapists: Therapists who conduct evaluations or follow-ups remotely.
  • Optometrists: Eye care specialists who offer remote follow-up consultations.
  • Pharmacists: Professionals who advise on medication use, side effects, or interactions remotely.
  • Genetic Counselors: Specialists who conduct remote consultations on genetic disorders.

Quote for Telemedicine Malpractice Insurance

how much does telemedicine malpractice insurance cost?

The cost of telemedicine malpractice insurance varies widely, depending on a number of factors. The minimum cost you’d expect to pay would be $5,000/year. But this would depend on your field of medicine, the activities you do remotely, your location and the location of your patients. The cost will also depend on the amount of coverage you want to take.

The malpractice cost for telemedicine has not yet been defined through the courts, so we are yet to discover how high settlements will be. Insurers currently offer coverage of up to $10,000,000, but naturally, premiums for these higher amounts will cost more.

In the fast-evolving world of digital healthcare, telemedicine insurance is continuously adapting.

As real-world claims and significant legal challenges redefine the boundaries and expose potential policy gaps, it’s vital to work with a knowledgeable, specialty broker.

Westwood Insurance Group provides crucial expertise, keeping pace with the latest developments in telemedicine litigation and policy changes from various insurance carriers. By partnering with us, you ensure robust protection today and readiness for future complexities.

If you’re a medical professional, part of a healthcare organization, or a commercial agent seeking telemedicine malpractice insurance, please fill out our quick quote form, or ror contact Dale Nelson, below.

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