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Protecting your healthcare practice requires far more than simply checking the insurance box. In this eye-opening episode, former commercial insurance broker Mark Price shares critical insights about medical malpractice insurance that every nurse practitioner and physician assistant should understand before it's too late.

The conversation dives deep into the crucial differences between occurrence and claims-made policies, revealing why the seemingly cheaper option might actually cost you everything in the long run. Mark explains how policy limits actually work, including the hidden danger of policies that include defense costs within your coverage limits rather than paying them separately. With legal expenses easily reaching hundreds of thousands of dollars in extended cases, this single detail could leave you personally liable even when you thought you were protected.

Telehealth creates another layer of complexity, as demonstrated by a sobering real-world case where a provider's insurance denied coverage after treating a college student across state lines. Contrary to what many believe, DPC practices may actually face increased liability compared to traditional models due to their comprehensive approach and frequent use of text messaging and remote communications.

Beyond malpractice coverage, Mark outlines why business owner policies covering cyber liability and employee dishonesty have become essential safeguards. For multi-provider practices, he explains how key person insurance and buy-sell agreements can protect both the business and personal finances should the unthinkable happen. As Mark aptly puts it, "insurance is designed to provide sleep" - the peace of mind that comes from knowing your personal assets and professional future are properly protected.

Whether you're launching a new practice or assessing your current coverage, this conversation provides the knowledge you need to make truly informed decisions about the policies protecting your livelihood. Don't wait for a claim letter to discover the gaps in your coverage.

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