Medical Practices Face Liability Risks Beyond Malpractice

Videos Focus on Billing, Employment, and Data Breach Risks

Napa, California—November 20, 2014—Business risks that medical practices face and how to reduce exposure are addressed in a video playlist released today by The Doctors Company, the nation’s largest physician-owned medical malpractice insurer.

The playlist, “Medical Practices: Be Aware of Top Business Risks,” includes short animated videos that discuss three main business risks beyond medical malpractice lawsuits: billing errors and omissions, employment-related lawsuits, and data breaches. The videos also provide steps that practices can take to reduce their exposure, including ensuring they have adequate insurance coverage.

The videos feature case studies that give examples of the severity of these risks, such as:

  • On average, it costs healthcare providers $80,000 to defend themselves in billing errors and omissions cases, and fines and penalties can be hundreds of thousands of dollars.
  • The median award in employment practices lawsuits in 2012 was $325,000, and even a frivolous charge results in expensive defense costs.
  • The healthcare industry suffers 51 percent of all data breaches—and the average cost of dealing with a breach was $2.4 million in the last two years.

“The Doctors Company constantly monitors emerging trends and quickly responds with innovative solutions,” said Stacy Schultz, senior vice president of marketing, The Doctors Company. “We have the resources and experience to help medical practices mitigate employment-related claims and to provide regulatory risk and cyber liability protection.”

About The Doctors Company
Founded and led by physicians, The Doctors Company (www.thedoctors.com) is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company is the nation’s largest physician-owned medical malpractice insurer, with 75,000 members and $4.3 billion in assets, and is rated A by A.M. Best Company and Fitch Ratings.

Follow The Doctors Company on Twitter at @doctorscompany for industry trends, subscribe to its YouTube site to hear from industry experts, connect with The Doctors Company on LinkedIn to engage with company leaders, and find information on its key milestones and achievements on Facebook.

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