A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Liability Ins. for ICs? - Seeker
Posted: May 20, 2011
A company I may be contracting with recommends that insurance for errors and omissions be purchased. I called the insurance company, and this runs about $320 per year, paid in advance.
In all my years of being an MT I have never purchased this kind of insurance policy. Frankly the above seems like fearmongering to get people to buy into this racket.
Was this company the one that - sm - Jill
[ In Reply To ..]said you should get that if you wanted to be an IC but if you were an employee, they covered you for that? I won't say their name here but it sounds like the same one I just spoke to. I never heard of this crock of bull either and wouldn't get it for myself, however, I did not want to work for this company either. If it is the same one, I could tell they didn't know what they were doing from their recruiter who changed their mind on their polices every time I talked to them.
Don't think so... - Seeker
[ In Reply To ..]I'm fairly sure this company doesn't have employees, only ICs, so it must be a different one.
Liability insurance for ICs - NC-MT
[ In Reply To ..]If you're an IC, you're running your own business. And every business has to have liability insurance. It's really that simple. Employees have coverage through their employer; ICs have to fund their own, same as their health insurance, payroll taxes, vacation benefits, Social Security payments, technology, etc.
liability insurance - BeenThereMT
[ In Reply To ..]I discussed this with my attorney years ago - when the former AAMT came up with this idea as a way to make money. My attorney said to consider ourselves the same as a legal secretary and they do not carry liability insurance. Here's why. We transcribe a report that someone else dictates or provides the facts for. That person is responsible for the final accuracy of the content of that document - they need to sign off on that document. We do not own that document, the dictator/health care provider/attorney does. He told me this was the case whether I worked for myself or an MTSO.
End of this discussion.
This is a case of the "deep pocket" theory. The more people involved with any litigation who have insurance will help to spread the funds around.
At the very least, an MTSO should write their contracts to cover their butts.
By the way, at that time, I could not even find an insurance carrier who would sell liability insurance for this purpose -- only AAMT.
Why should you be liable? - Nell
[ In Reply To ..]Please don't fall for this scam. Why should you even consider paying for something like this? It's a fact that many doctors don't even read their dictation. They are trying to make you pay for their mistakes. Don't do it. Put the ball back in their court.
Similar Messages:
BA And Liability
Sep 04, 2013
I am going to try and post a link here and hope it works. This site gives a pretty simply explanation about HITECH and why the BA liability issue is coming up. It is not about misspelling words, transcribing wrong doses or any narrative in your document (E&O insurance)--it is about privacy of patient information (liability insurance) which most people can get through their homeowner's insurance agent. Good luck. ...
Liability Insurance For IC's
Apr 12, 2010
Any ICs out there that have been told they have to carry "liability insurance" that also covers HIPPA breaches? I feel this job is costing me more money than I can make anymore. Plus, they tell me when I can and can't take off, when I have to work, etc. and even call me on weekends when TAT is running out and I'm off. Of course when I do take off, I don't get paid and am told I have to make the time up. What the heck? Anway, back on subject, anybody have the insurance an ...
Need Liability Insurance.
Jan 18, 2012
I'm have a part time IC job that is mine if I want it, but I need liability insurance. I'm having trouble finding a company around me that offers it for a single person. I'm waiting for some calls back, but wondered if anyone has some suggestions. This is only going to be a part time second job for me right now, so I don't want to pay a fortune. The woman who does the job now, but wants to cut back on work, has her's through State Farm for $26, bu ...
What Exactly Is Liability Going To Cover An MT For? Sm
Sep 03, 2013
I've been hearing a lot about needing to possibly now have liability insurance but what are we being insured against? Liability for what? A mistake in the report? I've always been under the impression that the doctors are supposed to be reading their reports before signing and if they sign it with a mistake, that is THEIR responsibility. ...
Alltype And Liability Insurance
Apr 17, 2010
Does anyone know where to go to for the liability insurance due to HIPPA? Alltype is requiring this now. ...
Liability Insurance - Have You Been Asked
Oct 07, 2010
Has anyone been asked to purchase liabillity insurance for themselves as an IC. If so, how much does it cost. I was interviewed for an IC position, they said they had insurance, but I would also have to purchase liability insurance. I have never done worked as an IC before so I could use some tips. ...
Replacing Liability Insurance
May 29, 2012
The corp. I contract with is replacing Dictaphone and transcription with Powerscribe and editing. I have been presented with an extensive contract which will supersede the transcription agreement I have had for 10+ years. Aside from the disparity in pay and expectation to edit STATS for free, I have serious concerns about signing a contract that states I have full legal liability for the edited report and that I have to carry Workers Comp and 1-3 Million $ E&O and general liability insurance ...
From IC To BA - Requirement And Liability Insurance
Aug 19, 2013
Hi. I received an email from my account telling me ICs are now BA (business associate) per HIPAA. Honestly, I do not know anything about this. They provided some links for me to read on. I was given the choice to become a BA and provide the requirements they need or become an employee. I would like to still be self-employed and not an employee if I can. Have anyone here completed the requirements? Can you please help me how you got the requirements done? They also require liability insuranc ...
Anybody Here Carries A Liability Insurance
Aug 30, 2013
Hello, I just want to ask if anybody here carries a liability insurance. How much do you pay? Anybody here can share with me information about being a business associate (independent contractor) in compliance with the new HIPAA law? Thanks. ...
Liability Insurance For IC Position?
Dec 10, 2014
I just interviewed with a company that told me I have to have a million dollars in liability insurance and have to show them the certificate in order to be an IC. ??? Do all the IC's out there carry this? Does anybody know where you buy this and how much it costs? ...
Liability Insurance For Independent Contractor
Nov 01, 2010
Do any of you who work as an independent contractor for an MTSO carry liability insurance? Why or why not? Do they have to carry it and cover you or are you responsible for this? Thanks. ...
Errors & Omissions Liability Insurance
Jul 24, 2013
Was just informed that I cannot continue to work unless I have E&O liability insurance. WT@#$#!$#$#!!!! Does anyone have this? ...
Medical Transcription Liability Insurance
Sep 19, 2013
Where do you buy transcription liability insurance and how expensive is it. I'm ready to go work at Wal-Mart after 20 years in this business. ...
Liability Insurance For Business Associate/IC
Nov 02, 2013
I spent a lot of time looking for an insurance company that will not charge me an arm and a leg to be insured as a Business Associate (formerly IC). I paid $400 a year, which is not bad considering the other choices. I just want to share to those of you that need to be insured. http://www.myvirtualstore.yolasite.com/professional-liability-insurance.php ...
Professional Liability Insurance For Business Associate/ Independent Contractor
Oct 08, 2013
So after more than a month of research for the new HIPAA-HITECH Final Rule, I was able to pass everything to the company I work for as an IC. I just want to share to any IC/BA if anyone is still looking for professional liability insurance/Error and Omission. This company is the cheapest I have found. http://www.myvirtualstore.yolasite.com/professional-liability-insurance.php ...
Company Requires "professional Liability Insurance" Through Employer.
Jun 04, 2010
Does anyone have experience with this? I am not sure what to think. I feel that the record is the responsibility of the author and/or the supervising physician. ...