Why Physicians Are Going Bare Rather Than Purchasing Medical Malpractice Insurance

 Being sued for medical negligence is an unfortunate reality faced by healthcare providers in almost every specialty. In fact, about 1 in 3 physicians face a lawsuit at some point in their careers. This is why most doctors carry medical malpractice insurance; however, many are now choosing to forego insurance because “Going Bare” comes with a number of benefits.

We have outlined just a few of those benefits below:

Going Bare Can Save You Thousands of Dollars 

Benefits for Doctors Who Go Bare Rather Than Purchasing Medical Malpractice InsuranceIt goes without saying that medical malpractice insurance is incredibly expensive. In fact, many doctors pay tens of thousands of dollars each year for coverage. Although it is certainly wise to have some protection in the event of facing a lawsuit, many physicians and healthcare facilities are opting to invest in more cost-effective Going Bare legal defense services.

If you live in a state that does not require medical malpractice insurance, you can choose to forego coverage and instead retain the defense attorneys at Lubell Rosen, LLC. For many providers, Going Bare legal defense comes with significant cost savings compared to medical malpractice insurance.

Doctors Who Go Bare Are Less Likely to Be Sued

Saving money isn’t the only reason why more physicians are choosing to Go Bare. Plaintiffs’ attorneys are often less inclined to take a case if they know that the defendant does not have an insurance policy to bring the claim against. As a result, Going Bare could actually reduce the likelihood of facing a lawsuit.

Medical Malpractice Insurance Is Unstable

Even if you purchase medical malpractice insurance, there’s still no guarantee that you will be covered in the event of a lawsuit. More than half a dozen insurance carriers have filed for bankruptcy or receivership since 2015. This isn’t something you will have to worry about if you purchase Going Bare legal defense.

Plaintiffs’ Attorneys Are More Willing to Negotiate with Doctors Who Go Bare

Even if you do face a lawsuit, the plaintiff’s attorney may be more willing to negotiate if you Go Bare. Litigation can be incredibly expensive and time-consuming, especially in medical malpractice cases. Plaintiffs’ attorneys aren’t going to enter litigation unless there’s a good chance that doing so will result in a more substantial payout. If you don’t have an insurance policy, the plaintiff’s attorney might assume that proceeding to litigation would be too risky and, therefore, they may be more inclined to settle for an amount that you are willing to pay.

Are Physicians Required to Carry Medical Malpractice Insurance?

There is no federal law that mandates physicians must have medical malpractice insurance, but coverage is required in some states. Specifically, 32 states do not require doctors to purchase medical malpractice insurance. Of the remaining 18 states, some require doctors to carry a minimum amount of coverage while others require medical professionals to carry some insurance to be eligible for liability reforms in their state.

Which States Do Not Have a Requirement for Physicians to Carry Medical Malpractice Insurance?

There are no medical malpractice insurance requirements in the following states:

Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and West Virginia

Although these states do not require doctors to purchase malpractice insurance, some physicians may be required to do so under certain circumstances. For example, in many hospitals, it is mandatory for doctors who have visiting privileges to carry malpractice insurance. Also, doctors without insurance are not eligible to participate in some healthcare insurance plans.

About Our Going Bare Legal Defense Services

If you are a healthcare provider who wants to Go Bare, our legal team can provide you with cost-effective and comprehensive legal defense services. Rather than waiting until you face a lawsuit, you can retain our legal services at a lower cost and continue practicing with the confidence that should you ever face a lawsuit, you will have a team of seasoned medical malpractice defense attorneys in your corner.

To learn more about our Going Bare defense services, send us a message or contact our office at (954) 880-9500. If you’d like to read case studies that show real-life examples of the benefits of Going Bare, click here.