General Liability Insurance Question for other MTSO's

• General Liability Insurance Question for other MTSO's - sm

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first of all I incorporated, which you really ought to consider. The corporate shield would not only protect you any kind of transcription liability (which is in reality nonexistent) but also against IC's and employees coming after you for discrimination etc which is a far more likely occurrence than any professional liability. As far as hospital accounts requiring it - it's in their basic contract - just line it out and explain there is no liability to the MT. Incorporating would give you far more protection than $600 of liability insurance. Not only that, but I would say the price of $600 is way too expensive-- that is more than nurses are charged and they carry far more liability.

Incorporation also carries some very nice benefits in terms of paying yourself a salary and not paying SS on all the earnings that your company produces (SS should be paid on what YOU earn, not on what your corporation earns). That saves me approximately $5000 a year right there. If your service is earning more than $50K a year, I would highly recommend you invest that $600 in a consultation with an attorney and get yourself a CPA. Keep that tax money in your own pocket.

As far as the little incident with the Medicaid fraud- this is why MT's now only hold records for 30 days (long enough to do billing) and then dump 'em. Nowadays it is the doc's responsibility to archive his own stuff. With everything in data files instead of paper copies, simplest thing in the world for them to do their own archives and back ups. Think of how easy that would be when the FBI shows up at your door. Yes, sir, I have everything from April 2006. Do you want it?

Again, I would have to say liability insurance is completely unnecessary for MTSO and for IC's or employees.

can anybody tell me what this would cost?  my job offer requires this.  all input is much appreciated.

liability insurance - can anyone tell me what i should pay a month for this?

is also known as E & O insurance, short for errors and omissions.  It serves to cover a professional if/when they commit an error or omit something that causes harm to their client.  Doctors call it malpractice insurance.

It is very specifically NOT, I repeat NOT a part of your homeowners insurance.  Professional liability insurance is LIABILITY coverage.  That means it covers you if you cause harm to someone else.  Insurance that would cover your personal computer is PROPERTY insurance and would indeed be part of your homeowners or renters' policy, assuming you have enough coverage for your contents and/or an electronic media enhancement to the policy.

To all MT's out there - do not ever sign something that says you will carry Professional Liabilty coverage.  This has the potential for putting the liability for mistakes on you, rather than on the doctor who signs the report.  It's saying that You are responsible for errors that may or may not cause harm to a patient somewhere along the line.  Don't do it.

Some years back this type of insurance was not uncommonly required of independent contractors. Some companies made it mandatory as part of your contract.  It mostly fell off as a requirement in the 1990s because the focus of responsibility began to be pushed back onto the signing physician.  The doctor has malpractice insurance and statistically have been the ones getting sued.  Not many MTs were being sued for this reason and those cases have dropped to nil in more recent years.  AAMT offered this insurance to their members.  I don't know if the Writer's Union continues to offer it.

Having heard the changes this particular company has been experiencing, I am not surprised to hear they have instituted this requirement.  As they have begun to be a less than desirable employer, they are attracting substandard or less than qualified MTs.  Perhaps it has become an issue for them with one or more clients, but that is speculation on my part.  It is not hard to speculate on that as being an issue, though, given the downward spiral they have yet to pull themselves out of.

The fair thing for them to do would be to put it in their ad.  Perhaps they instituted this change between the time you applied and the time they told you about it.

I don't think that any of us who are small MTSO's carry liability insurance, but could be wrong.  The doctor signs off on what we type, so they are liable for it.  I have never heard of a Transcriptionist being sued but again could be wrong.  I myself have never carried it in the 18 years have been doing this and prior answers to this agreed with me when this was asked previously.   Who told you that it was necessary? 

Don't be too sure guys.  With HIPAA you may reconsider. You ARE responsible if you violate HIPAA, and even though the client would likely be sued first, they will most likely countersue you if you are the source of the violation.  Your computer could be stolen, you could print a sample which is lost and turns up in the wrong place; you could deliver your work by fax and send to the wrong person, you could have someone hack or computer while on line, there are a number of ways in which you could violate HIPAA, even a big mouth speaking without thinking first could be a liability with HIPAA.

The content of what we transcribed is no doubt the dictators responsibility, but, if you represent yourself as a qualified MT, a professional, able to perform the job accurately and reliably, and if an error is missed by the dictator/signee which causes harm, to the patient,  then be sure the dictator will countersue you because as a professional, you should be expected to produce a document which is accurate as to what was said. 

Now I don't know about you guys, but I am not perfect.  I have seen errors in content which were the MTs fault, human though we are.  Like known instead of unknown, or no known instead of unknown.  The thing is, if your error caused the patient to have an additional procedure which caused harm, you could be drawn into any lawsuit which results.  We need to watch that saying the dictator is solely resonsible for making sure the document is accurate before signing because a reasonable person might feel that we are also responsible for accuracy in what we transcribe when it is not what was dictated.  You can't have it both ways, call yourself a professional, but say I am not liable for my mistakes, the person signing the document is.  I think it would be wise to carry errors and omissions insurance if your client does not.  Now if you are an employee, then I think you will find your employer does carry such insurance, and I would ask.  It is not because you might be sued and lose, it is because you might be sued and be unable to afford to defend youself that is my greatest concern.  Lawsuits can be very expensive, even if you are not in the wrong.  Just my opinion.

PTC

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I for one, also feel that there has been enough said about a certain companies on this board  -- I work for a small service (probably less than 100 employees) and am treated fairly  -- my second paycheck was late, but only due to a goof at the end of the major hospital and the invoice  -- I was with a company where I was paid every two weeks like clockwork, but occasional gitches happen  -- and you have to plan for those things.  The subject though with this one company has become way too rendundant and I for one feel it's time to move onward and upward.

75% is a pretty heavy figure on terms of ESL.  That sounds like an account no one else wants to do. 

I think if people thought before they posted for example which platform, flexibility, etc.

As soon as someone puts that they had a bad experience, they are told that's not true, etc. etc.  It's a neverending thing on this company board.

If someone says they have had a good experience, then everyone starts applying and the company overhires and then everyone is mad about that. 

It makes no sense to me. 

Letting someone know they are able to search the archives is not rude at all.  It's a matter of using the correct string of characters and spending the time to do it though.