29 Jun Worker’s Compensation for Doctors
We don’t often think about it, but doctor’s lead fairly dangerous lives. No, they might not be serving in war-torn countries or responding to continual mass casualty disasters that are seen on ER or Grey’s Anatomy, but there are a number of other factors that be hazardous to physicians. Every day, doctors can and are injured by combative patients or misplaced syringes and are exposed to infected clients and other biohazards. Working in such an “on-the-edge” profession must mean that all physicians are constantly worried about being off the job, right? Wrong.
The main concern a doctor may have about being kept off the job by an injury may be financially-related. The health concerns can be tended to by a trusted colleague, but what about the bills? What about the lost salary? As an employer, the main concern is for our employee’s health, but that’s not to say that we don’t also have thoughts like: “What if I am sued?” Worker’s compensation insurance provides the answer to these concerns.
If a doctor is unable to work and they elect to receive worker’s compensation benefits, their medical bills, prescription costs, and even physical therapy expenses can be fully covered. Additionally, a portion of their salary is also provided through worker’s compensation. Depending on the state where the doctor works, as well as who is providing the coverage, two-thirds of the normal salary can be offered.
Worker’s compensation coverage also provides a layer of financial protection to the employer. In most cases, an employee waives their right to sue their employer for damages related to the accident when they accept other worker’s compensation benefits. While this may seem like a cold statement, it really is simply preventing the employer from having to pay for medical costs and lost salary twice over.
It is important to note that providing worker’s compensation for doctors employed by you or your company is often not an optional decision. Nearly all states in the nation require that an employer purchase enough worker’s compensation insurance to adequately cover their employees. Policies can be purchased by industry trade unions (who may be able to provide a discount), a state’s division of worker’s compensation, or any number of private insurance agencies whose policies are acceptable to the state. Regardless of the number of doctors you employ, having worker’s compensation coverage is required for a business to operate legally in most states.
A doctor’s work is demanding, both physically and mentally. Add in a few opportunities for any number of different injuries and it can seem overwhelming. But obtaining worker’s compensation for doctors in your employment provides two things: peace of mind and financial protection. Take a moment to speak with an agent today to review your insurance policies and make sure that you have the coverage needed to provide both that peace of mind and protection to yourself, your employees, and your company. A little preparation taken now can save a great deal of legal trouble in the future.
All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.