Malpractice Insurance for Physical Therapists

Malpractice insurance (professional liability insurance) for physical therapists is not merely a precautionary measure; it is an indispensable component of a responsible practice. The nature of physical therapy, which involves direct patient contact, manual therapies, and the use of specialized equipment, inherently carries a risk of accidents and injuries, however unintentional they might be.

The increasing litigiousness in the healthcare sector underscores the need for robust protection against legal claims. A single malpractice lawsuit can have far-reaching consequences, both professionally and financially, for an uninsured therapist.

Malpractice Insurance for Physical Therapists can include:

Option to include general liability insurance
Coverage limits of up to $2 million per individual claim
Complete authority to approve settlement decisions
Protection for telemedicine and telehealth services
Legal defense coverage for professional license issues
Legal defense expenses covered in addition to liability limits
Defense coverage for allegations of sexual misconduct
Protection for HIPAA-related privacy violation claims
Portable coverage available 24/7, applicable in volunteer work, telehealth roles, per diem, or moonlighting assignments

Why do Physical Therapists need Malpractice Insurance?

According to theAmerican Physical Therapy Association (APTA),malpractice claims against physical therapistsare not uncommon. While the majority of physical therapy sessions conclude without incident, theAPTA emphasizes the importance of professional liability insurancein safeguarding practitioners against unforeseen circumstances.A 2020 report from the National Practitioner Data Bankhighlights that the average malpractice payment for physical therapy-related claims was approximately $150,000, underscoring the financial implications of such lawsuits.

In addition to protecting against malpractice claims, physical therapists should also be coveredfor a range of other potential liabilities. These include personal injury claims, such as slips and falls within the practice premises, and privacy breaches, especially pertinent in the age of digital health records. Given the sensitive nature of patient data, physical therapistsmust also be preparedto address any legal challenges related toconfidentiality and information security.

How Much is Malpractice Insurance for Physical Therapists?

The cost of liability insurance for physical therapists can vary based on the type of coverage, the size of the practice, and other factors such as risk exposure. Here are approximate costs of liability insurance for physical therapists:

A Business Owner’s Policy (BOP)can cost $655 annually, for coverage of $1 million per occurrence, protecting you against patient injuries, property damage, and damage to your own business property. The Business Owners Policy typically includes General Liability Insurance.

Professional Liability Insurancecan cost just $100-500 per year depending on the state and practice setting. This covers you against malpractice lawsuits, license protection, and other related areas.

It’s important for physical therapists to carefully consider their insurance needs and choose policies that provide adequate coverage, considering the potential financial impact of malpractice claims and the specific risks associated with their practice. Westwood Insurance Group can help youfind the most suitable insurance for your specific needs.