Tele-medicine (telestroke) moonlighting?

[ChristopherMD20]

I am not allowed to moonlight "in person" anywhere via locums or other opportunities during fellowship. However, I could probably do so through a tele-medicine program. I am doing stroke fellowship so I would be looking at doing telestroke coverage. Alteplase is pretty much my favorite thing. Anyhow, does anyone have any experience or advice about breaking into that industry to supplement my income?

[Dr. Mom]

I do consults through Teladoc.  I just contacted them through their website and went through their credentialing process.  It was very easy.  They do require you to be board certified.  I am not familiar with Alteplase. Can you just contact them directly and apply?  Of course, first be sure it won't conflict with any of your program's policies.  And, be sure they offer malpractice coverage.

[ChristopherMD20]

Dr. Mom thank you for your response. Alteplase or more commonly referred to as tpa (my failed attempt at a joke ). The malpractice is important and I may need to get an umbrella policy too if I am able to pursue this.

[jfoxcpacfp]

ChristopherMD20 wrote:

Dr. Mom thank you for your response. Alteplase or more commonly referred to as tpa (my failed attempt at a joke  ). The malpractice is important and I may need to get an umbrella policy too if I am able to pursue this.

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Out of curiosity, how do you see the umbrella fitting in to this decision?

[ChristopherMD20]

My understanding is that if for some unfortunate reason I were to be sued over the malpractice coverage the umbrella would kick in. I plan on getting an umbrella policy when I start as an attending to insure against that "target" on my back especially since I plan on investing in rental properties in the near future. Please inform me if I am mistaken about umbrella policy as I am quite new to all the financial stuff.

[ticker]

OP, PM sent.

In brief, for the sake of anyone else wondering, I think the time and cost of getting all the licenses and credentialing in every hospital covered by a tele group are going to be more hassle that they're worth if you are just looking for short term moonlighting.

[Dr. Mom]

ChristopherMD20 wrote:

My understanding is that if for some unfortunate reason I were to be sued over the malpractice coverage the umbrella would kick in. I plan on getting an umbrella policy when I start as an attending to insure against that “target” on my back especially since I plan on investing in rental properties in the near future. Please inform me if I am mistaken about umbrella policy as I am quite new to all the financial stuff.

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My understanding is that the umbrella covers your personal liability for home and auto insurance to higher limits.  At least that is what we have set up.  I have not heard about an umbrella for malpractice.  In the malpractice case, I would think you would just want higher limits on the actual policy.  For me, Teladoc covers me for what I do for them, so no additional coverage needed.

[jfoxcpacfp]

Dr. Mom wrote:

ChristopherMD20 wrote:

My understanding is that if for some unfortunate reason I were to be sued over the malpractice coverage the umbrella would kick in. I plan on getting an umbrella policy when I start as an attending to insure against that “target” on my back especially since I plan on investing in rental properties in the near future. Please inform me if I am mistaken about umbrella policy as I am quite new to all the financial stuff.

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My understanding is that the umbrella covers your personal liability for home and auto insurance to higher limits.  At least that is what we have set up.  I have not heard about an umbrella for malpractice.  In the malpractice case, I would think you would just want higher limits on the actual policy.  For me, Teladoc covers me for what I do for them, so no additional coverage needed.

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Dr. Mom is correct. Umbrella insurance is classified as "property" rather than "professional" insurance. It covers you for events involving your ownership of property (real estate and vehicles) for which you are proven to be at fault. Your personal actions as a professional are covered by your malpractice only. That is why forming an LLC for your IC income generally will not afford any extra protection for damages resulting from your activity as a physician. An exception might be if you were seeing patients in your home as they could be injured on your property.

Umbrella insurance covering your rental property would be especially appropriate. If you have multiple rental properties, the choice of whether to form an LLC for each or to put them all into the same LLC is important and you should discuss with your CPA. If your state does not have the ability for you to form a "series LLC", it may be better to simply have a big umbrella policy.

[ChristopherMD20]

Well thank you all for the education. I will not invest in the umbrella policy until I actually start buying rentals (likely a few years).

[beagler]

If you pilot a 4000lb speeding hunk of metal (drive a car) and are a physician, I'd take umbrella coverage now.

[CordMcNally]

Umbrella coverage is cheap for how much you can get. Any time I can reduce my catastrophic risks for cheap, I take it.

[jz]

Alteplase is pretty much my favorite thing.

This statement comes off so glib.  Please reassure us that you can offer a nuanced understanding of the risks.

[ChristopherMD20]

Jz Well my intention was to make a joke, but obviously it wasn't a very good one.

I can assure you that I remain updated with the AHA/ASA guidelines and current stroke and neurology literature. I can also assure you that I critically analyze each situation (usually 25-35 consults per week determining tpa vs. no tpa and/or MT vs. no MT through in person, telephonic or telestroke consultation) using evidence based medicine.

I will not try to make jokes in the future. Or at least I'll make them better. My apologies.

[Doc Spouse]

CordMcNally wrote:

Umbrella coverage is cheap for how much you can get. Any time I can reduce my catastrophic risks for cheap, I take it.

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OP - Seconded (or thirded, as the case may be).  For the level of protection, it is cheap.

Fun story - My parents were stopped at a red light and got rear-ended by a drunk driver doing about 40.  The force of the collision then slammed my parent's car into the back of the SUV in front of them.

Thankfully, my parents were okay.  Two weeks later, they get notified that they're being sued by the SUV driver.  The lawyer evidently did enough research to decide they'd be a decent target for litigation. The world we live in.  :roll:

You don't have to own rental property to be a target.  I'd recommend getting it now.

[CM]

ChristopherMD20 wrote:

Jz Well my intention was to make a joke, but obviously it wasn’t a very good one.

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