Malpractice Insurance Cost | The Deciding Factor?
Do you ever think about your medical malpractice insurance cost?
It’s a factor that often fades into the background. Physicians often keep the same malpractice provider for decades — never knowing that they could save tens of thousands of dollars by exploring their options.
But what if an insurance company isn’t your best option?
What if there’s a better alternative — one with major financial advantages?
Malpractice Insurance: Cost of a Superior Alternative
The Cooperative of American Physicians, Inc. (CAP) offers coverage with proven financial security, at rates that are often lower than malpractice insurance companies. Cost for CAP coverage is competitively priced because our rates are calculated based on the claims we pay. And by accepting only the best physicians, CAP can offer rates lower than any insurance company.
CAP is a membership-based organization created and run exclusively by independent physicians. Since 1977, we’ve been protecting California’s finest solo and small group practices with coverage and services tailored to fit their needs.
Financial Security
For nearly 40 years, CAP has protected the best physicians in California through the Mutual Protection Trust (MPT), our core product. MPT is an interindemnity agreement that gives these physicians secure and affordable medical professional liability coverage that provides dependability and financial stability that rivals any insurance company.
MPT and malpractice insurance companies have one primary difference: doctors protected by MPT do not pay premiums. Instead, they pay assessments calculated based on the cost of protecting CAP’s entire membership for a 12-month period.
The high standards of CAP membership are part of what keep MPT rates at such a low level. Our high standards – we only accept California’s finest physicians into our ranks – help lower the likelihood of a claim being filed against one of our members. The lower the risk of a filed claim, the lower our rates are likely to be.
Additionally, A.M. Best Company has given MPT an A+ (Superior) rating since 2006.
Our time-tested fiscal stability and quality membership of nearly 12,000 physicians allow us to offer highly competitive rates for coverage. By joining CAP, the cost of your malpractice coverage will likely go down.
CAP’s malpractice coverage is the total package – a financially stable, time-tested alternative that’s competitively priced.
Malpractice Insurance Cost: Other Things Are Just As Important
As a company run by and for physicians, CAP also has an acute awareness of what physicians need most out of a malpractice provider. Our members have access to an extensive collection of benefits designed to meet the needs of solo and small group practices, as well as practice management and risk management support services.
Comprehensive Supplemental Insurance
CAP’s supplemental insurance offerings include:
- Disability and Term Life Programs
- MEDEFENSE™ Plus
- Employment Practices Liability Insurance (EPLI)
- Business Owner’s Policy
- Workers’ Compensation
- Term Life Insurance
- CyberRisk
- Miscellaneous Professional Errors and Omissions Insurance
Practice Management Resources
Our practice management resources draw upon our membership’s collective experience and bargaining power, with programs like:
- Human Resources Hotline – CAP’s Senior Vice President of Human Resources is available to answer employment-related questions from physicians and office administrators.
- CAPSource – Our group-purchasing program provides discounted products and services for members’ practices.
- EHR Consultative Services – Our specialists advise members on selection, implementation, and security.
- Educational Webinars – We regularly offer webinars on vital subjects like payments and reimbursements, protecting your online reputation, and ICD-10.
Risk Management
CAP helps physicians prevent and manage adverse outcomes with programs like:
- CAP Cares – Our early intervention program provides round-the-clock support to CAP physicians in the event of an adverse outcome.
- Risk Management Institute – Our six-part online educational series gives office staff practical guidance in supporting physicians and helping to reduce risk.
- CME Risk Management Program – CAP offers free accredited continuing medical education (CME) courses to all CAP members.
Discover why CAP’s medical professional liability coverage is superior to medical malpractice insurance.