3 Things Medical Malpractice Insurance Covers Beyond Medical Damages

29 July 2020
 Categories: Insurance, Blog

If you are a medical professional in the United States, you most likely need or have some form of medical malpractice insurance. This insurance helps protect you in the case of a workplace action where a patient is hurt and requires the payment of damages. If you have or need medical malpractice insurance, here are three things it covers beyond the payment of damages.

Attorney And Court Fees

If you are being sued under a medical malpractice suit, then you will need an attorney. They can walk you through the process of handling the suit and help protect you to the best of their ability. Medical malpractice insurance can cover the costs of an attorney including their hourly rate, overall costs, and any other fees they may charge. Additionally, the insurance will also cover the cost of court fees and other fees related to the suit. It's in the best interest of the insurance company to pay these fees for you so that you can afford to fight the case and, therefore, not have to pay damages.

Punitive Damages

One of the many costs associated with a medical malpractice suit is any punitive damages that might occur, which are meant to punish the medical professional in the suit rather than just pay for the medical damages that the patient underwent. These damages are less frequent than regular medical damages because they are meant to punish particularly reckless or cruel behavior rather than regular medical mistakes. These damages are on top of medical damages. Medical malpractice insurance can cover the punitive damages associated with a medical malpractice suit.

Settlement Costs

When involved with a medical malpractice suit, the patient may decide to take a settlement that's provided by the hospital you work for, your insurance, or your own private practice. This allows everyone to avoid the costs of a trial and may offer a lower (but guaranteed) payment as well. If the patient has settled out of court and is owed a settlement, medical malpractice insurance can pay for the costs to settle the lawsuit out of court and pay the damages required. This is useful when the settlement costs do not technically count as medical damages or punitive damages on paper, but you still need to pay.

There are many different costs associated with a medical malpractice suit, and medical malpractice insurance can pay for all or most of it. This includes the costs of attorneys, filing in court, punitive damages, and even settling out of court. Make sure to find the best coverage for you as a medical professional.