Understanding the importance of insurance in case of medical practice liability
Despite attending several years in medical school and countless training, doctors are still prone to mistakes. They are not immune to it. Let’s face it, they get tired, don’t get enough rest, and most of the time face highly stressful situations. And yes it’s not an excuse for medical malpractice, especially when those mistakes change their patients’ lives in unexpected and unwanted days which sometimes may result in death. That’s why as a doctor or a hospital establishment, it is important that you have insurance that can help you cover for the cost of damages and defense in case this situation arises.
What is Medical Malpractice?
Medical malpractice is something that causes harm to a patient due to the negligence of a doctor, health professional or hospital. It has four elements: duty, breach, injury, and proximate causation.
Breach of duty and injury
Whether the malpractice caused bodily injury or death of the patient, this is contemplated by the law under the doctrine of res ipsa loquitur. This also occurs when the doctor fails to comply or performs his/her duties improperly under professional standards.
According to the Code of Ethics of the Philippine Medical Association Article II Section 1, “A physician should be dedicated to provide competent medical care with full professional skill in accordance with the current standards of care, compassion, independence and respect for human dignity.”
Why Doctors Need Insurance?
Mistake is inevitable that’s why it is important that you insure yourself so when it happens, your policy can protect you against claims alleging your negligent acts. This type of insurance is called Medical Malpractice insurance. It is essential to not just doctors, but also nurses, dentists, physical therapists and anyone else who provides healthcare services.
Malayan Insurance offers malpractice insurance that covers liability arising from any failure to render medical services or an error in rendering medical services which resulted in death, sickness or bodily injury of the patient. This product is available for both hospitals and individual doctors. You may call Malayan Insurance at +632 8628-8-628 to know more.
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