Medical Director Insurance

Whether the result of a stagnant economy, lower reimbursements or just an explosion of new physician assistant (PA) or nurse practitioner (NP) run clinics, Medical Director insurance is one of the fastest growing segments of our liability insurance agency. We regularly see new companies offering this type of coverage, so make sure you choose a reputable insurance agent with access to every major insurance company.

What is Medical Director Insurance?

While there are some Departments of Health and licensing boards that allow advanced practice nurses to operate independently, most states require that PA or NP-owned clinics have a Medical Director or supervising physician on staff. Some other facilities that staff Medical Directors include: Hospitals, EMS Agencies, Surgery Centers, Weight Loss Centers and Nursing Homes. 

Why is a Liability Insurance Policy for Medical Directors Important?

Medical Director liability policies do not provide coverage for professional services rendered by the physician. Rather, it covers the physician for errors and omissions made in the course of his/her supervisory duties. Too many physicians incorrectly assume their current medical malpractice insurance will cover their outside Medical Director duties. In most cases, a physician’s med-mal insurance will specifically exclude Medical Director coverage, requiring physicians to purchase a stand-alone Medical Director liability insurance policy. 

The risks Medical Directors face are more involved. Every decision made has the potential to make an impact on dozens to hundreds of patients. The Medical Director role assumes a greater level of responsibility and accountability. Liability insurance provides physicians with financial protection and stability.

How Much Does Medical Director Insurance Coverage Cost?

Demand for Medical Director coverage is so high that rates seem to drift higher each passing quarter. About two years ago, the typical standalone Medical Director policy cost about $1,200 -$1,500 annually. Those same policies today cost between $1,800 and $,3500 for $1 million of coverage. Costs vary based on the state and county that a practice is located in as well as the practice’s estimated revenue and patient load.

As the demand for Medical Director liability insurance coverage increases, so does the number of insurance companies providing coverage. 

Does it Cost Extra to Use an Insurance Agent or Broker?

In the medical malpractice insurance industry, agent commissions are already built into your premium, so you pay the same amount for coverage whether you use an agent or purchase directly from the insurance company.

Why Doctors Choose the Cunningham Group

Our veteran medical malpractice insurance agents exclusively focus on helping doctors navigate the medical liability insurance market. With access to every major medical malpractice insurance company in every state, our team is uniquely qualified to get you the best coverage at the most affordable price. Most agents only have access to one or two medical malpractice insurance companies. Our almost-universal access lets us shop your coverage among nearly every available company, which means malpractice insurers compete for your business.

How Does the Process Work?

1. You will submit your information through a secure medical malpractice insurance quote form.
2. You can always call us and speak to an agent immediately.
3. A veteran medical malpractice insurance broker will be assigned to you.
4. We shop your Medical Director Insurance to every major malpractice insurance company in your state.
5. Your agent will take the time and go over all of your options with you, explaining everything to make certain you make the right decision.
6. We get you your insurance policy at the best price with a major insurance company.
7. At renewal time: We start the shopping process all over again, getting you quotes from all the major malpractice insurance companies to again make certain you’re properly priced.

Request your free Medical Director Medical Malpractice Insurance Quote today. Our agents know the market well and have found reasonable priced coverage for physicians in every state.

The Ultimate Physician Medical Malpractice Insurance Guide

We’ve created the ultimate medical malpractice insurance guide for physicians that can answer almost any question you may have — either before you buy or while you have an active policy. This guide applies to all physician specialties in every state.

Additional Resources for Medical Directors

NAMCP Medical Directors Institute
Journal of the American Medical Directors Association (JAMDA)
AMDA – The Society for Post-Acute and Long-Term Care Medicine