Just like all medical professionals, anesthesiologists enter into their field because they want to help people. You want to keep patients safe and healthy by providing the best care that you can. 

As an anesthesiologist in Florida, you’re not only a healthcare provider but also it’s likely that you’re a business owners who is responsible for running an office, dealing with employees, and protecting your business and everyone you’re responsible for. 

Running your practice can take away from your focus on patient care. But with the right insurance for Florida anesthesiologists, you can protect your personal assets and your practice if something goes wrong.

What is an Anesthesiologist?

The American Society of Anesthesiologists defines anesthesiology as “the practice of medicine dedicated to the relief of pain and total care of the surgical patient before, during, and after surgery.”

Simply put, anesthesiologists administer medication to patients so that they don’t feel pain during surgery. Anesthesiologists are involved in around 90 percent of the more than 40 million surgical procedures that are carried out under anesthesia each year in the United States.

What’s more, most anesthesiologists are also involved in a wide range of other medical procedures involving pain or pain management. 

According to the American Society of Anesthesiologists, in 2016 there were over 30,000 anesthesiologists employed in the US and many more who were self-employed.

How Can I Insure an Anesthesiologist in Florida?

An anesthesiologist Florida will need to protect against the risks to his or her business (physical assets, employees, and patients) as well as his or her own professional liability risk. This can be accomplished with a variety of Florida business insurance policies tailored to the unique risks of the specialty and the practice. 

First, most Florida anesthesiologists will need several business insurance policies, much like any other small business. Insurance policies that are appropriate for an anesthesiologist in Florida include:

• Commercial general liability (CGL) insurance: This is broad coverage that pays for medical bills and damages if someone is injured or experiences property damage as a result of your operations. This covers you if someone trips and falls in your office, or if a patient’s property is damaged by one of your employees. But be aware that your CGL policy does not cover you for any errors, omissions, or negligence in the medical services that you provide. 
• Commercial property coverage: This protects your office space and its contents. If weather, fire, theft, or vandalism damages your office furniture, office equipment, artwork, furnishings, computers, or any other office contents, it covers repairing or replacing damaged property. 
• Business interruption coverage: This helps cover lost income and other expenses if you must close your office to make repairs after extensive property damage.

Many medical practices purchase a business owners policy (BOP) that combines property, liability, and business interruption coverage into one package policy that offers comprehensive, affordable coverage. 

You likely need to consider some of the following additional coverage options. 

• Computers and media coverage: This protects you from the inconvenience and financial loss for your medical practice if theft, vandalism, viruses, or malware damages your computers. This coverage pays for loss of data or software as well as physical damage to computers and other hardware. 
• Cyber liability insurance: This provides coverage in the event of a data breach involving your practice. Because your office computers likely hold a variety of sensitive information, a data breach can cause significant financial and emotional distress for everyone involved. This coverage helps pay for the costs of notifying affected patients, as well as public relations and investigative costs. 
• Commercial umbrella insurance: This provides excess liability protection above the limits of several other policies you might have, including general liability or employer’s liability. If an injury lawsuit awards a judgment against you that exceeds the limits of your CGL policy, your commercial umbrella policy would cover the difference. 
• Florida Workers’ Compensation Insurance: This is typically required for any business that has employees, and pays for lost income and medical expenses for employees who are injured on the job. An employee who injures her back while lifting a heavy box of office supplies would need this coverage to help with medical bills and lost wages for time away from work. 
• Employment practices liability insurance: This covers you if a past or current employee sues you for discriminatory employment practices.
• Valuable papers coverage: This can help you reproduce damaged documents, such as medical or financial records, if they are damaged by a fire or some other covered event.

You also need medical professional liability insurance, or medical malpractice insurance, to protect against errors, omissions, and negligence in your medical advice or services. If a patient is physically or financially harmed as a result of your care, you can be sued for damages and lose your practice. 

According to Medscape’s Malpractice Report 2017, anesthesiologists are included in the top ten specialties most often sued for malpractice.

That makes medical malpractice insurance essential for protecting the livelihood of any practicing anesthesiologist. Providers often win malpractice cases, but the costs of defending the case are almost always unrecoverable. Medical malpractice insurance protects your healthcare practice from the costs of malpractice claims and lawsuits.

Do I Need an Agent to Purchase Anesthesiologist Insurance in Florida?

Florida anesthesiologists need to understand their insurance policies and the implications of making changes to them over time. It’s best to talk to a Florida independent insurance agent who can help you compare policies and companies, read and understand the terms, and make an informed decision. 

An independent agent can work with you one-on-one to determine the types and amounts of coverage you need to protect your anesthesiology practice from a variety of costly problems. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.