FAQ
- Does the OSMA offer any medical liability discount programs?
- By selecting The Doctors Company's medical liability insurance program, OSMA members can receive up to an additional 10.5 percent premium reduction on their medical liability insurance. Exclusive discounts available for members include a 5 percent premium discount and a 2.5 percent claims-free credit. In addition, a 3 percent credit is available for those members who use the OSMA EHR Standards of Excellence Program, the OSMA Patient Satisfaction Program or other approved patient safety programs.
- How does the Doctors Company Liability Insurance Benefit OSMA Members?
- In addition to a range of exclusive premium discounts and credits for OSMA members, The Doctors Company offers aggressive claims defense, competitive rates, broad specialty categories and industry leading patient safety programs. The coverage features an iron-clad consent to settle provision, so no claim is settled without the consent of the insured physician, and free tail coverage for physicians on full retirement who have been insured with The Doctors Company for five years or who suffer permanent and total disability. Members also participate in a multiyear dividend program, have access to CME and are eligible to participate in the Tribute® Plan, a financial career award that honors physicians for their loyalty to The Doctors Company and their dedication to practicing good medicine.
- How is TDC able to provide medical liability insurance discounts to OSMA members?
- TDC is confident that comprehensive and well executed patient safety programs, such as those offered by OSMA, can greatly improve the practice environment for patients and physicians, reducing the risk of liability claims. This, along with The Doctors Company’s strict underwriting guidelines, allows The Doctors Company to reward physicians who commit to education and practice improvement with additional premium reduction.
- Is a physician required by law to have medical liability insurance?
- No. Ohio law does not require that physicians have medical liability insurance. However, physicians who choose to forego coverage must notify patients prior to providing non-emergency services that they do not have medical liability coverage. See ORC 4731.143. The required notice must be provided on a separate page, be signed by the patient indicating the patient's acknowledgment of receipt of the notice, be kept in the patient's file and be in the following form:
"NOTICE:
Dr ................. (here state the full name of the certificate holder) is not covered by medical malpractice insurance.
The undersigned acknowledges the receipt of this notice.
....................
(Patient's Signature)
....................
(Date)"
Note that physicians who comply with Ohio's volunteer immunity law are not required to comply with this notice requirement. Also, most hospitals, insurance plans and other health care facilities require as a condition of participation, membership or privileges that physicians maintain medical liability coverage.
- Why did OSMA choose TDC as a partner for medical liability insurance?
- At the OSMA, we know it is imperative that we find the best products and services to meet our members' needs. After thoroughly researching numerous companies and their products, we believe we have found a solution that is one more step toward providing OSMA members with affordable medical liability insurance. TDC is the largest national insurer of physician and surgeon medical liability and has a sizeable market share in Ohio. The OSMA endorsed TDC because the company was able to offer our members affordable medical liability insurance with an additional discount. This additional 10.5 percent premium reduction is available to active OSMA members who meet certain criteria.
- Why did the OSMA partner with a medical liability company?
- The OSMA partnered with a medical liability company to help provide our members with affordable medical liability insurance. While the medical liability marketplace has improved, with fewer claims and lower premiums, medical liability continues to be among the top concerns of physicians in Ohio.
