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New Contract - malpractice coverage

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  • New Contract - malpractice coverage

    What are peoples experience with malpractice coverage when signing to a new group? Is it typical for a private radiology group to not provide tail coverage in the setting of claims based coverage? My compensation is fair but I'm worried that if I leave the group early or don't resign at the end of my contract for whatever reasons I'm going to be screwed with some outrageous tail bill. I'm just trying to determine if this is typical or if I need to seriously try to renegotiate this to some middle ground.

     

     

  • #2
    From my experience (which is limited to only our clients, of course), it's pretty typical, but definitely worth trying to negotiate. Another idea is that, if you do leave, you can see if it's possible to negotiate with your new employer to cover all or part of it. After all, the new employer is the party benefiting from your separation from service, not the former.
    Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      Just for clarification. I know I said "in the setting of claims based insurance"  but what about in general? Is it more typical for a private radiology group to offer claims or occurrence coverage in your experience?

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      • #4
        I'm just trying to decide if claims based coverage in a contract is a red flag or just something you'll commonly see in the private practice marketplace. I don't want to aggressively attempt negotiating this if its pretty typical outside of hospital employment.

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        • #5
          I believe WCI at one point mentioned he was able to get a new employer to split the tail coverage 50/50.
          I could be wrong and that’s purely one case.
          Red flag no, but a common issue. Some prior posts have go into various levels of detail and solutions. Good luck.

          https://cse.google.com/cse?cx=partner-pub-3400277571907334:2503767013&ie=UTF-8&q=Tail+insurance+

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          • #6
            I am a rad, and your contract terms re malpractice are standard. If you leave within two years, the tail is generally reasonable. Additionally, if you move to another private practice in the vicinity, they will typically pick up your nose and continue coverage without you having to purchase a tail.

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