Benefits of Slot Coverage for Medical Malpractice Insurance



If your practice involves part-time and full-time physicians and you feel like you’re being overcharged for your medical malpractice insurance, you might want to consider slot coverage. Many physicians believe it’s a cost-effective, convenient option, and it could be right for you as well.

Let’s review the basics of slot coverage and some reasons why you should consider it. Whether you’re starting new or you run a well-established practice, slot coverage can provide many benefits.

How Slot Coverage Works

Slot medical malpractice insurance coverage premiums are typically based on the number of hours part-time physicians work during a certain time period. Slot coverage has only one set of limits, meaning half of the coverage has two part-time policies. Often used for larger groups, the benefit of this insurance for larger groups is that no tail coverage may be needed on claims-made policy. Often, slot coverage is based per patient and per read type.


Why You Should Consider Slot Coverage

There are several benefits to purchasing slot coverage for your part-time physicians, and many reasons to consider it over a traditional policy:

  • Short-term cost reduction — Most traditional policies treat all physicians the same regardless of how many hours they work each week. These policies also cut off at ten hours of work per week. Slot coverage premiums, on the other hand, are set according to the specific number of hours each physician works.
  • Flexibility — Slot policies also offer more flexibility in that each physician is not required to maintain his or her own policy. Your doctors can work any number of hours as long as they don’t exceed the number allowed by the slot. And if those hours change, you can easily adjust your policy.
  • Long-term cost reduction — You can take your time recruiting and hiring the right replacement without rushing your choice because you’re worried about incurring substantial expenses. A per patient slot policy even allows you to handle temporary contract changes without needing to purchase a tail.

Slot insurance coverage is complex and if you are trying to determine whether they work for you, contact an expert to review the details so you can understand them. An expert can help you understand whether slot coverage is the right choice for your needs.

Contact Gallagher Healthcare to Learn More

As with most aspects of medical malpractice insurance, slot coverage can be daunting to understand. At Gallagher Healthcare, we have more than 30 years of experience in this area and can provide you a clear, detailed explanation of how slot coverage works and how you can benefit from it.

We pride ourselves on our long-term relationships with our clients. In fact, 98 percent of our clients renew with us each year. We have extensive market knowledge, and we can put that knowledge to work for you. You’ll never worry about being placed in any sort of pre-conceived “box” with your coverage. We will listen to your exact needs and offer coverage options to meet them. Gallagher has a proven record of success and a reputation for protecting our clients’ interests.

Whether you’re looking for slot coverage, tail coverage or a traditional policy, we’ll work closely with you to give you the best coverage at the best price. We’ve earned the trust of thousands of physicians over the years, and we look forward to the opportunity to earn yours as well. If you would like to learn more about slot coverage for medical malpractice insurance or any other services we offer, get a free quote online today or contact us.


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