Cardiovascular Surgeon Malpractice Insurance

Cardiovascular Surgeon Malpractice Insurance

Cardiovascular surgeons are medical specialists who focus on surgery involving the heart, lungs, esophagus, and other organs in the chest. Other names for doctors in this field include cardiothoracic surgeons, cardiac surgeons, general thoracic surgeons, and congenital heart surgeons. With the growth of cardiovascular diseases, the importance of this career in conjunction with protection from malpractice claims is clear.

Many cardiovascular surgeons -- approximately 85% -- have medical malpractice claims filed against them during their lifetimes. About 18.9% of cardiovascular surgeons face a claim annually. Of those claims, 3.8% result in monetary damages. For physicians in this speciality, the median indemnity payment is about $159,000 and the mean is over $308,000. The most common reasons for malpractice lawsuits for cardiovascular surgeons are missed diagnoses, procedural complications, incorrect treatment management, and incorrect medication management. Thus, an important part of being a cardiovascular surgeon with such high risk is pursuing full protection from medical malpractice claims.

How Much Does Cardiovascular Surgeon Medical Malpractice Insurance Cost?

Cardiovascular surgeons spend on average anywhere from $50,000 to $150,000 annually on malpractice insurance. Lawyers, settlements, peer panels, medical damages, and other expenses are covered by these annual sums. Cardiovascular surgeons should seek customized insurance with policies that have been adjusted to their needs.

Insurance costs are affected by the specialty of the cardiovascular surgeon, namely the type of procedures the surgeon performs. There are a variety of other factors that influence cost, such as:

  • Hours worked
  • State
  • Urban versus rural location
  • Competition among insurers
  • Level of coverage
  • Tort reform (specifically regarding non economic damage caps)
  • Policy limits
  • Implementation of “defensive medicine”
  • Individual practice and cardiovascular surgeon's history

Types of Insurance Coverage for Cardiovascular Surgeon Medical Malpractice

There are two types of medical malpractice coverage -- claims-made and occurrence -- offered to cardiovascular surgeons. Claims-made refers to policies with coverage limited to the time it is active. However, "tail" coverage can be added to claims-made policies, allowing coverage to extend beyond the end of the policy for a set amount of time. On the other hand, occurrence policies are policies where the coverage applies to all claims regarding events that occurred during the time the policy was in effect, even if it is no longer active.

In addition to an employer's policy that could have liability gaps, cardiovascular surgeons should obtain their own individualized malpractice insurance.


Are You In Need of Medical Malpractice Insurance?

Capson Corporation provides competitive, reliable malpractice insurance to cardiovascular surgeons across the United States. Founded in 2010, Capson offers competitive quotes and low premiums due to our dedication to serving good doctors. Get your free quote now on malpractice insurance for your private practice.