Workers’ Compensation is a form of insurance that is essentially a compromise between labor and management. The Workers’ Compensation Insurance policy provides wage replacement and medical benefits to employees injured or sickened in the course of their employment—either on the premises or away while acting on behalf of the practice. In exchange for this, workers relinquish their right to sue their physician or dental employers for the tort of negligence.

In general, a Workers’ Compensation Policy is a worker’s exclusive remedy for workplace injuries. It pays a portion of lost wages directly related to a work-related accident or illnss, compensation for past and future economic loss to compensate for permanent and partial physical impairments, medical expenses related to the on-the-job injury, and benefits to dependents of workers killed during the course of employment. As you can see, the policy combines disability insurance, health insurance, and life insurance into one plan.

Workers’ Compensation Policies are meant to eliminate the need for expensive and time-consuming litigation. Employees relinquish their right to collect for pain and suffering in exchange for not having to prove fault on the part of their employer in the event of a loss. So, under Workers’ Compensation Insurance, workers receive defined benefits regardless of whether they or their employer are partially or fully at fault in an accident.

What Injuries are Covered by Workers’ Compensation Insurance?
Injuries sustained by a worker “in the course and scope” of employment are covered by Workers’ Compensation Insurance. These include injuries from accidents, workplace violence, terrorist attacks, and natural disasters.

Workers’ Compensation Insurance also covers certain illnesses and occupational diseases contracted in the course of employment. For example, if a healthcare worker contracts AIDS from a needle puncture at work, the medical expenses and lost wages are covered by Workers’ Compensation Insurance.

Who is Required to Purchase Workers’ Compensation Insurance?
A medical and dental practice in the State of Florida is required to purchase Workers’ Compensation Insurance when it employs four or more employees, generally defined as people performing services at the direction of the employer. Florida allows sole proprietors and partners to cover themselves if they choose. Corporate owners are covered unless they exclude themselves.

It is advisable for a practice to purchase Workers’ Compensation Insurance regardless of the number of employees, in order to exempt the employer from becoming legally liable for the injury or illness of their employees. A single illness of an employee could bankrupt a practice which chooses not to purchase Workers’ Compensation Insurance. State inspectors are working hard to administer harsh fines and shut down those practices that are required to carry Workers’ Compensation Insurance but do not carry it.

Is Workers’ Compensation Insurance Part of Any Other Insurance Policy
No, a Workers’ Compensation Insurance Policy must be purchased separately.

How are Workers’ Compensation Premiums Determined?
Premiums for Workers’ Compensation Insurance are determined by the employer’s industry classification code and by annual payroll. The more risk involved in the business, such as roofing, the higher the premium. The rate for physician and dental offices is relatively low, because the risk of injury or sickness is low. The 2015 rate for a healthcare office is $.44 per $100 of payroll.

What can a Doctor or Dentist Do to Reduce His Workers’ Compensation Insurance Premium?
The best way for a physician or dentist to manage premium is to manage risk. A small practice may not be able to retain a Risk Manager on staff. Nevertheless, someone in the office should be responsible for loss control to keep workers safe, manage workers’ compensation insurance claims, and return employees to work quickly. The last thing a practice wants is to be assigned to the Assigned Risk Plan, or insurer of last resort, where the premiums are significantly higher than those of a standard carrier.

Some companies offer dividend programs for practices with a premium above the minimum which do not have workers’ compensation losses. Gracey-Backer, Inc. is privileged to have an excellent program with an “A” (Excellent) rated carrier to return 30% of your premium in the form of a dividend (as set by the Board of Directors) for offices who do not have claims. Even if there is a claim, the insured practice is guaranteed a 10% return premium in the form of a dividend. Please call for more information on the excellent Workers’ Compensation Insurance Program, offered exclusively by Gracey-Backer, Inc.

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Territorial Differences: Dental malpractice insurance companies determine rates partially by territory. In general, a more urban, populated area of Florida is more suit-prone than a rural, less populated area. Some counties have a higher proportion of litigation attorneys relative to Dentists, thereby bringing on dental malpractice claims. Most dental malpractice companies rate up for Dade, Broward and Palm Beach counties. Some rate up for Hillsborough and Pinellas counties. The remainder of the State of Florida is one rating territory, with generally lower rates.

Procedural Based Rating for Dentists: Some companies are increasing rates for dentists performing higher risk procedures, such as surgical placement of implants or extractions of impacted teeth. Simple extractions are exempt from this rate increase. This trend should continue through the next few years, as the economy forces more and more general dentists to veer into performing procedures formerly reserved for oral surgeons and periodontists. Regretably, claims are occurring with greater severity and frequency, thereby driving up rates.

Rating Up for Anesthesia: If a dentist uses IV or IM sedation, or employs multi-dose oral sedation or general anesthesia, his rates will increase, depending on the carrier. The dental malpractice insurance companies have determined that the risk of a dental lawsuit is higher for dentists who work under these anesthesia vehicles.

Botox: Many general dentists are now doing dermal filler tharapy and Botox therapy in their offices. Both are immensely popular and, according to our clients, easy to accomplish by a general dentist with proper training. We are asked all the time if a general dentist will pay more for medical malpractice insurance if he performs facial cosmetic procedures. The answer is not usually. Where companies used to charge more for malpractice insurance for dentists performing these procedures, most have eliminated the charge.

The bottom line is that dental malpractice insurance underwriting is changing, as more dentists perform riskier procedures. Rising dental malpractice premiums are forcing some general dentists to drop these procedures. Other dentists are going ahead and paying the higher premium.

Remember that there is competition in the dental malpractice insurance marketplace. It pays to shop around—with a specialized dental malpractice insurance agent who handles more than one medical malpractice insurance company. It pays to compare dental malpractice insurance carriers, rates, and coverage to find the policy that best fits your particular needs. (Always be sure that you are not receiving an inferior dental malpractice insurance product, however, as that could spell disaster at the time of a claim.)

We at Gracey-Backer, Inc. have specialized in dental malpractice insurance for Florida dentists and oral surgeons since 1982. We represent the finest dental malpractice carriers in Florida and can help the Florida dentist find the policy and premium that best suits his or her needs.

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The following are some considerations in choosing a dental malpractice insurance company:

1. Does the Company specialize in dental malpractice insurance? The Florida dentist should pick a company that knows their business—not one where dentistry is a subset of a larger focus. For instance, if the malpractice insurance company specializes in insuring physicians and surgeons or or lawyers or accountants, everything dental may take a back seat, including defense and risk management. It is important to pick a dental malpractice company that understands the unique needs of the Florida dentist.
2. Is the Company aggressive in defending dental malpractice claims? At the time of a loss, a Florida dentist surely wants a company that can roll up its sleeves and defend them, especially if the litigation is frivilous. It is vital to check with dental peers who have experienced lawsuits to see how aggressive the company was.
3. Does the Company have enough experience in insuring dentists? A Florida dentist does not want to be with a company that is new or is just building up capital to be sold. During the malpractice crisis of the 1990’s, many Florida malpractice companies exited the State, leaving the clients high and dry and scrambling to find other coverage.
4. Does the Company insure a significant number of dentists? Insurance is a “game” of large numbers. The more dentists a dental malpractice insurance company insures, and the wider the territorial range, the more stable it is. Especially for a litigious state like Florida, it is vital that the other states help to lessen the risk of a concentration of losses.
5. Does the Company offer a Risk Management Program? As any Florida dentist who has been through dental malpractice litigation can tell, lawsuits are awful and should be avoided at all costs. A quality Risk Management Program, geared specifically to the dentist, and, hopefully, giving a premium credit, will help the Florida dentist avoid a dental malpractice lawsuit and the attendant problems it brings.

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We do know that the Affordable Care Act (ACA) will lead to more people purchasing health insurance through government-run insurance exchanges. These people formerly did not carry health insurance. Within the next few years, it is estimated that more than 22 million people will have health insurance. The mere presence of more insured people will likely increase the number of medical malpractice claims.

Experts also predict the dilution of the doctor/patient relationship, as the model of one physician treating one patient through the various stages of care gives way to expanded-care teams and hospitalists with only surface relationships with patients. Under this new model, patients are not likely to be treated by a single family physician, with whom he has a relationship. Instead, he will move through a series of medical professionals as he goes from diagnosis, to treatment, to recovery. This model, of a team of professionals—doctors, nurses, physician assistants, hospitalists—makes up what is called Accountable Care Organization, or ACO. The ACO model is growing rapidly, as hospitals buy up small physician practices, making the doctors and nurses employees of the hospital, and blending them all into the ACO model.

The Accountable Care Organization model creates a new set of risks for the medical malpractice insurance companies. Patients gradually lose contact with the doctor because of the lack of continuity of care. As a result, he is more likely to sue because he is less emotionally and physically attached to his treating physician, thereby giving way to more medical malpractice claims.

As the number of private medical practices decreases, as hospitals buy up practices and take on their risk, medical malpractice insurance companies will compete heavily for the remaining private practice business. And malpractice companies that insure the deep-pocketed hospitals could face massive lawsuits similar to the ones faced in the asbestos lawsuits of the last couple of decades.

Other interesting trends are playing out concurrently, putting pressure on the already-strained medical malpractice system: Americans are aging and putting more pressure on the healthcare system, physicians are getting older and wanting to create a better work/life balance, and obesity is rising, leading to more cases of heart disease, diabetes, and joint ailments.

In addition, the Affordable Care Act does not address the issue of medical liability reform, which has proven to bring down the cost of medical malpractice insurance, not only in Florida, but nationwide. This is a glaring missed opportunity of the entire healthcare reform legislation, according to analysts.

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When purchasing a Florida dental malpractice insurance policy, it is important to consider the limits of liability, the total dollar amount the dental malpractice insurance company is willing to pay in the event of a loss. Most Florida dentists purchase limits of liability of $1 million per occurrence/$3 million aggregate. Other limits are available. The dental malpractice insurance policy is usually written without a deductible. It is important to purchase limits of liability sufficiently high enough to cover the Florida dentist in the event of a catastrophic claim—a death or failure to diagnose oral cancer, for example.

In choosing the right Florida dental malpractice insurance carrier, it is important to know the reputation of the carrier. Be sure to choose a dental malpractice insurance carrier with at least a rating of “A” (Excellent) by A.M. Best, the nation’s premier insurance company rating agency. Be sure the company is skilled in insuring dentists, and that you do not take a back seat to other physician or surgeon specialties. Remember that your assets and your professional reputation are at stake. No one thinks they will have a loss; however, if you do, you will be glad you are insured by the strongest, most aggressive dental malpractice carrier.

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For an explanation of Dental Malpractice Insurance, call John Gracey Backer, CPA, at Gracey-Backer, Inc. 800-272-6055 X128

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Every Florida dentist needs Professional Liability Insurance, also known as dental malpractice insurance any time they treat a patient. Dental malpractice insurance is designed to cover professional liability exposures of Florida dentists resulting from claims for bodily injury and/or personal injury. These may occur from alleged malpractice (errors or omissions) in rendering, or failing to render, professional dental services. After a Florida dentist passes the Board Exams, this short-term dental malpractice insurance policy may then convert to full dental malpractice coverage, if desired.

Whether a Florida dentist plans to work for another Florida dentist, or plans to open his or her own Florida dental practice, dental malpractice insurance is a major component of their overall insurance program.

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The answer is NO. Florida dentists switch dental malpractice insurance carriers all the time. The market for dental malpractice insurance is in constant flux. Dental malpractice companies come and go. Companies raise malpractice rates and reduce malpractice rates. Dentists move from office to office, open their own practices, and retire from the practice of dentistry.

It is easy to change carriers, as long as you watch out for a few simple things. Do NOT change your retroactive date—the date when coverage first began. The new dental malpractice insurance carrier can provide retroactive coverage, maintaining your original retroactive date. If you are switching from an occurrence dental malpractice policy to a claims-made one, the new dental malpractice carrier will set the retroactive date at the start of the claims-made policy. If you are retiring, your agent should have you in the position where you are eligible for a free tail.
The dental malpractice insurance market is competitive now, as new carriers enter and reduce premiums to gain market share. Know your options. Call Gracey-Backer, Inc. for a no-obligation review of your dental malpractice insurance program. Switching dental malpractice carriers has never been so easy.

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Some of the blame for rising dental malpractice insurance premiums may rest on the training the dentist receives. Many dental clinicians receive their implant training from CE courses offered by companies selling the implant product. These courses may not offer the hands-on experience that dental schools offer in their curriculum. Sometimes, the success of the implant is exaggerated so the dentist is not prepared for a complication. All of this is a concern to dental malpractice insurance companies.

In addition, the weak economy is forcing some dentists to be more aggressive in their placement of implants than recommended. Implants are being placed by dentists in compromised sites on compromised patients with inadequate bone and soft tissue. These added dental implant procedures and aggressive protocols require more extensive training than may be in place for routine implant placement. As one dentist said, “the more complicated the case, the more potential for complications”. Regrettably, some dentists today lack the training, skill and experience to be able to respond to unanticipated complications. This aggressive treatment protocol can lead to dental malpractice insurance claims.
For years now, most dental malpractice insurance companies took a “wait and see” approach to determining rates for placement of dental implants. They treated most dentists the same, or rated up based on the types of anesthesia the dentist used. Now, the dental malpractice insurance companies are seeing a rise in dental malpractice lawsuits for the reasons stated above. Rates are reflecting the inherent risk in placing implants and the resulting complication—which may be minimal, reversible, or irreversible in nature.

As dental malpractice insurance rates rise, many dentists who place a small number of implants are being forced to discontinue the procedures. Others are biting the bullet and paying the higher dental malpractice premiums, so they may continue to practice implant surgery. The important thing is to compare dental malpractice companies, rates, and coverage to find the policy that best fits your needs. We at Gracey-Backer, Inc. represent the finest dental malpractice carriers and can help you find the policy and premium that best suits you.

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One of the most important aspects of a good dental malpractice insurance company is its focus on dentistry. If the company is primarily a writer of physician malpractice insurance, dentists could well be pushed into the background. We like companies who specialize in dental malpractice insurance. Dental malpractice insurance is all they do. If they don’t do it well, they are out of business.

In general, you should choose a dental malpractice insurance company with a strong financial position in the marketplace. You want a company with the depth of capital to manage an expensive case with a large payout. The last thing you want is a company with a shaky financial position.

Your company should be rated at least “A” (Excellent) by A.M. Best & Co., the nation’s premier rater of insurance companies. Best does the research for you.
You also want a dental malpractice insurance company with great depth of experience. Nothing can take the place of experience when it comes to handling dental malpractice claims. You have the right to ask about local counsel and to look at a list of those dental malpractice attorneys who will defend you if you have a claim. You should ask about their training in dental malpractice issues. Again, you don’t want to take a back burner position to physicians and surgeons.

It is important to choose a company with a track record of writing dental malpractice insurance in your state. Each state has particular laws regulating dental malpractice insurance. Again, nothing trumps experience in a state if you are subject to a lawsuit.

The best dental malpractice insurance companies offer Risk Management Programs to help you avoid a dental malpractice claim in the first place. Going through a lawsuit is a very difficult situation. Let your dental malpractice insurance company help you avoid a claim through a dentist-specific risk management program. And, you will save money on your premium.

Many dental malpractice insurance companies offer other credits, including loss-free credits, group credits, and society credits. Be sure your agent is aware of these and communicates to you all the ways to save on your premium.

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