Healthcare has come a long way, but the pressure on doctors keeps growing. With new technology changing how care is delivered, expectations are higher than ever, along with the risks. Today, doctors are being watched closely, not just by peers, but by patients and legal systems too. Even when doctors act responsibly, they can still face lawsuits or financial claims. People are more informed, which means they are more likely to face legal exposure. Professional Indemnity Insurance helps protect doctors when things go wrong, allowing them to continue focusing on what they were trained to do: caring for others.
Rising Medical negligence Litigation: A growing Concern
Medical malpractice lawsuits in India have seen a remarkable increase over the last decade. The National Consumer Disputes Redressal Commission (NCDRC) has documented thousands of cases annually for medical malpractice. In the high-shaft cases, specifically surgery, a slight issue can escalate into lawsuits.
Many of these significant cases, regardless of standard, lead to demanding legal proceedings, reputational damage. Compensation amounts have also surged, with courts demanding in crores for the renowned or eminent cases. Such payouts can be stressful for the small business owners and the individual medical practitioners to pay.
What is Professional Indemnity for Doctors
Professional indemnity insurance offers financial protection and legal liability against errors made unintentionally and omissions made by the doctor while performing their professional services. If the patient or their family claims that the doctor has mistreated, performed a surgical or diagnostic error during the treatment, this policy covers various coverages like out-of-court settlements, compensation up to the insured limit.
This insurance is not only for doctors and surgeons, but also for general medical practitioners, dentists, psychologists, and neurologists under professional indemnity for doctors.
Why it’s more important for Doctors
Enhanced Consumer Rights & Patient Awareness - With modern technology, individuals have a better understanding of their rights, but sometimes, if their expectations do not meet reality, they act quickly. With the awareness of the Consumer protection rights, patients can file their complaints for the services. This policy is crucial as it is designed to indemnify you against such legal liability and the associated costs of defending a claim.
Increasing the Range of Medical Practice- As medical technology and treatments advance, practitioners can address more complex conditions. However, adopting these innovations can also introduce unforeseen risks and less predictable outcomes. This expansion of your medical practice increases the potential for claims alleging error, omission, or negligence, making professional indemnity coverage essential for managing these emerging liabilities.
High Settlements & Judicial Precedents - Indian courts need to be more assertive towards patients, allocating considerable damages. Even if the doctor is found not guilty and unburdened of any negligence, even then, the legal procedures can still be hefty.
Professional image at risk - Legal procedures not only affects the financial stability, but in most cases, they become a major hit to their medical practice. Having professional indemnity insurance indicates and helps during the crisis, comforting both the medical practitioner and the patients.
Conclusion
The Medical Practitioners devote their whole life to heal others, often under uncertain situations, and they may end up doing something that wasn’t intentional but caused discomfort to the patient. In consideration of the same, they do deserve a wholesome policy which provides coverage against the unforeseen circumstances, mainly the legal procedures, settlements avoiding the risks. As the medical environment is widespread, investing in specific insurance is the most crucial step that every healthcare professional must take in this growing era.
Pratyush Kumar, Head of Product, PI for Doctors, Policybazaar for Business
