Insurance for Physical
Therapists
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Why do Physical Therapists Need insurance?
As a Physical Therapist, you work with patients that have lost their ability to perform their usual day-to-day activities. You spend each day helping patients regain strength, balance, flexibility, and coordination so they can resume living their best lives.
The exercises you prescribe, the advice you give, and the patient records you keep will hopefully lead your clients to physical breakthroughs. Most of the time things will go to plan and your treatment will be a success, However, there may come a time when a patient isn’t pleased with your work causing you to be the defendant in a malpractice lawsuit.
Did you know?
Many Physical Therapists find limitations to their employer’s Liability Insurance. You may not be covered if a lawsuit is filed after you end employment. You also might not be reimbursed for related defence costs or lost wages while defending yourself against the lawsuit.
Insurance for Physical Therapists
Our Miscellaneous Medical Liability package is designed to offer the maximum protection to Physical Therapists. The package includes Professional Liability insurance (Malpractice Insurance), General Liability insurance, and Cyber Liability insurance.
Each of these types of liability insurances is an important safeguard for Physical Therapists. The Miscellaneous Medical Liability package provides all the essential insurance coverage and protection a Physical Therapist needs.
Professional Liability Insurance (aka Malpractice Liability Insurance)– Physical Therapists
Each year the number of lawsuits filed against Physical Therapists continues to increase. One simple mistake on your part could lead to expensive attorney fees, court costs, and possibly a large financial settlement. To mitigate the monetary damages caused by such a situation, you will require Malpractice Liability insurance.
Professional Liability, otherwise known as E&O insurance or Malpractice Liability insurance is used by health care professionals to protect themselves from claims of medical negligence. Many States require Physical Therapists to establish a Malpractice Liability policy before they are allowed to begin treating patients.
It is recommended that Physical Therapists working for hospitals, clinics, and rehabilitation centers purchase their own Malpractice Insurance. This is because many employer Malpractice Liability Insurance plans have low limits for their employees which can leave you and your personal assets vulnerable In the event of a claim occurring.
Malpractice Liability Insurance could defend you from the following oversights:
- Improper use of biophysical agents such as iontophoresis, joint mobilization, traction, or electrical stimulation
- Errors or mistakes made while treating a patient with manual therapy
- Incorrect use of therapeutic exercises and equipment
- Improper management of physical therapy treatment over the course of care
General Liability – Physical Therapists
The fundamental foundation of all liability coverage is General Liability Insurance. It is there to protect you from third-party claims for Property Damage or Personal (Bodily) Injury resulting from your negligence. If a patient is accidentally hurt or has their property damaged while attending a treatment session, then you could be held responsible.
If you are a Physical Therapist that owns your own clinic, it is vital that you secure a General Liability Insurance policy to protect both you and your business. A General Liability plan will further safeguard your business if it is named as a third-party in a liability lawsuit.
General Liability claims for any of the following scenarios could be covered:
- A patient falls over an exercise ball that you forgot to put away resulting in tripping over and breaking their ankle
- You accidentally knock a water bottle onto your patient’s laptop, ruining it
- The treatment table your patient climbs onto collapses and the patient is seriously hurt
A General Liability Insurance policy is intended for payment of lawsuits, investigations, and settlements for which you are found to be responsible. General Liability will not pay for employee injuries, professional liability, intentional acts, or claims not related to your work as a Physical Therapist.
Cyber Insurance – Physical Therapists
During accessing and notating electronic patient files, you may run the risk of a cyber-criminal hacking into these confidential files and causing havoc. The patient harmed by this cyber-crime can hold you responsible. This would be harmful to both your professional reputation and your personal finances.
Even when cyber-crime occurs via your employer’s network, you may still be named as a third-party in a patient’s claim. In this modern era, it is critical for all Physical Therapists to obtain an independent Cyber Liability policy.
Cyber Insurance will provide you with the financial resources to protect your business from the expenses and legal costs associated with data breaches, which may occur after being hacked or from the theft or from loss of client information.
