Is Going Bare risky?

There are many who suggest that Going Bare will put your assets at risk. But these assertions are always being made by those in insurance industry.  After 16 years of representing Bare doctors, not a single one of our clients has gone bankrupt or lost their practice.  In fact, even when we have lost a case, which is rare, the doctor still saved money compared to the cost of insurance. Below are a few case studies of doctors that paid large settlements and still found a way to save money by going bare.

Case Study #1: Ultrasound not reported properly

Specialty Ob/Gyn
Group 30 doctors
Cost of Insurance $1M per year
Cost of Legal Defense $100K per year
Length of Case 4 years
Settlement $500,000
Savings $3.1 M

In this case, doctors failed to properly report an ultrasound and baby was born with an anomaly. Plaintiffs obtained a 4 million dollar verdict.  After a successful appeal, case was settled for $500,000.  By Going Bare, instead of insurance, clients saved $3.1M. 

Case Study #2: Hospitalist sued for not seeing patient

Specialty Internal Medicine
Group 7 doctors
Cost of Insurance $280K per year
Cost of Legal Defense $49K per year
Length of Case 5 years
Settlement $100K
Savings $1.05 M

In this case, hospitalist failed to come in to see patient near the end of his all night shift. Patient developed sepsis. After a 7 week trial against multiple defendants, jury found for the defense. Judge however ordered a new trial and our client settled for $100K.  By Going Bare, instead of insurance, clients saved 1.05M.

Case Study #3: Radiologist accused of mis-read causing death

Specialty Radiology
Group 20 doctors
Cost of Insurance $700K per year
Cost of Legal Defense $90K per year
Length of Case 4 years
Judgment $130K
Savings $2.3 M

In this case, a radiologist was accused of mis-reading an X-Ray that led to the death of a patient.  Plaintiff demanded 6.5M in damages. Defendant offered 500K. After a one week trial, Jury returned verdict of $130K. By Going Bare, instead of insurance, Client saved 2.3M.

Case Study #4: Botched surgery causes death

Specialty General Surgeon
Group 3 doctors
Cost of Insurance $150K per year
Cost of Legal Defense $27,000 per year
Length of Case 4 years
Settlement $250K
Savings $200K

In this case, general surgeon caused death of patient. Plaintiff demanded $250K to settle case and the defendant agreed to accept 250K to settle the wrongful death case.  By Going Bare, instead of insurance, client saved $200K.