The Doctors Company is the leading physician-owned medical malpractice insurance provider. Its medical practice coverages are consultative, customized, and innovative in helping businesses of all sizes to reduce costs, manage employee benefits, and mitigate risks. It is best for healthcare professionals and business owners that are providing patient care.
The Doctors Company Pros and Cons
Coverages are specifically made for people working in the healthcare industry
Online application does not guarantee an instant quote
Available in all 50 states
Does not have a mobile app
Online claim and incident reporting
Only offers insurance for physicians, surgeons, dentists, and hospitals and health systems
Continuing medical education classes available
Risk management resources available to policyholders
Rating of A (Excellent) from A.M. Best and A (Strong) rating from Fitch
Who The Doctors Company Is Best For
- Doctors with their own clinics: With The Doctors Company’s medical malpractice insurance, there are already seasoned advocates that can help you throughout the litigation process. It also provides protection for your data and that of your patient’s.
- Operations outside the scope of traditional medical malpractice: Through the Doctors Company’s Errors and Omissions Liability Insurance, doctors with services that are not covered by a traditional medical malpractice policy are covered.
- Oncologists: Oncologists with outpatient hematology-oncology practices that successfully earned their Certification from the QOPI® Certification Program (QCP™) can earn discounts up to 10%.
The Doctors Company Pricing
The Doctors Company offers customized prices based on the needs of their clients. The Doctors Company offers protection from notable regulatory threats to your practice up to $1 million and up to $5 million to protect your profession against cyber threats.
The Doctors Company Alternatives 2020
Professional Liability Insurance Provider
(Best overall) Small to midsized businesses providing services directly to consumers
Business consultants, particularly technology consultants looking for contractual liability coverage
Financial planners, accountants, tax preparers, and credit counselors
Hairstylists, nail technicians, estheticians, and other beauty professionals who want affordable coverage.
Small law firms that want professional liability immediately
Real estate professionals and those representing the real estate services industry.
Residential home service providers and contractors working on clients’ property.
The Doctors Company Features
The Doctors Company provides consultative and custom-made prices depending on the needs of their clients. What sets them apart from other insurance providers is how the policies that they are offering, such as cyber liability, directors & omissions, employment practices liability, property general liability, and workers compensation, are already tailor-fit to healthcare professionals and businesses that provide high-level patient care.
The Tribute Plan for Loyal Policyholders
The Doctors Company offers a unique financial benefit for their loyal policyholders called The Tribute Plan. Presently, the Tribute Plan funding rate is 10% of your eligible premium. For you to be eligible for the Tribute Plan, the policyholder must be listed as a “named insured” on a medical liability insurance policy issued and enforced on or after January 1, 2007.
The Doctors Company also offers a unique product called MediGuard PLUS that increases the limits of your regular liability coverage. It also covers defense costs, shadow audits, and fines and penalties―both actual and alleged billing errors. On top of those, MediGuard gives you legal representation for administrative actions that were brought by:
- Medicare and Medicaid
- Medical licensing boards
- Credentialing reviews and actions
- Professional review organizations
- Federal agencies regarding the Emergency Medical Treatment and Active Labor Act (EMTALA) and DFA
The Doctors Company offers CyberGuard Plus, a broad coverage that helps protect doctors against regulatory and liability claims that come from theft, loss, or accidentally transfer patient information. Unlike CyberGuard―limited to $50,000 per incident with a $50,000 annual limit per policy period―CyberGuard Plus offers limits from $1 million up to $5 million.
Continuing Medical Education for Healthcare Professionals
The Doctors Company supplies an abundance of information specially made for a number of specializations on topics that are applicable and relevant. Aside from those, there is a quarterly publication called The Doctor’s Advocate that gives timely information regarding patient safety, legislative updates, and the latest news with regard to the industry and company.
Most Helpful The Doctors Company Reviews
As of the date that this article was written (June 2020), there hasn’t been any positive or negative feedback made by current policyholders with regard to their experience with The Doctors Company. If you are a previous or current customer of The Doctors Company, kindly leave a review to help business owners and healthcare professionals decide whether or not to use the provider.
The Doctors Company Frequently Asked Questions (FAQs)
Every business situation is unique and small business owners should seek out answers before selecting an insurance provider. We’ve gathered some of the most commonly asked questions about The Doctors Company below and answered them.
If I leave The Doctors Company, can I still retain my Tribute Plan?
Your Tribute Plan is forfeited if you leave the provider for reasons other than death, permanent disability, or permanent retirement. However, your Tribute Plan and the balance and years of continuous coverage may be reinstated if you leave the provider but return in 12 months or less.
Aside from CyberGuard and MediGuard, what other unique benefits can I get from The Doctors Company?
Free tail coverage is another benefit that policyholders can get from The Doctors Company, on top of CyberGuard and MediGuard. This coverage is only available for policyholders who have been using The Doctors Company for five consecutive years.
Medical Malpractice Insurance
This article on medical malpractice insurance will give you more information about this type of professional liability policy. In this guide, we provided a list of top providers—both national carriers and brokers that specialize in medical malpractice for both physicians and allied healthcare professionals, a brief introduction of this type of insurance, sample costs on medical malpractice insurance, and tips on getting one.