MDIS Quick Bites

Or do you let a sleeping baby lie?

by Jerri Wildhaber, MDIS Operations Director

Just like parents are the safety net for those sleeping babies — willing to do anything to keep them secure and provide for their well-being — so too, insurance is a critical safety net that helps protect your financial well-being against unexpected events. But just as children grow and needs change, life evolves and so do your insurance needs. Reviewing your insurance coverage regularly is essential to ensure that you are adequately protected and not overpaying for unnecessary coverage. Here’s why you should review your insurance and how to do it effectively.

WHY YOU SHOULD REVIEW YOUR INSURANCE

Life Changes // Major life events such as marriage, the birth of a child, purchasing a practice, changing jobs or hiring an associate can significantly impact your insurance needs. For example, a new baby may require you to update your health or life insurance policy, while buying a practice could mean you need to be sure you have Business Owners insurance coverage, and hiring an associate can bring new liability issues you never thought about.

Coverage Gaps // As circumstances change, it’s possible your current insurance policy might not cover all the risks you face. A review can help identify gaps in coverage, ensuring you are adequately protected from potential financial burdens.

Changes in the Market // The insurance market is dynamic, and new policies or updated plans may provide better coverage at a lower cost. By reviewing your insurance, you can take advantage of newer options that fit your current needs and budget.

Cost Savings // Insurance premiums are often based on factors such as age, health, practice location, payroll, revenues or even the procedures you are performing in your practice. Over time, your situation may change, and you may qualify for discounts or lower premiums. Reviewing your policy can uncover opportunities to save money.

Regulatory Changes // Laws and regulations governing insurance can change, impacting how much coverage you need or how your policy is structured. A regular review helps you stay compliant and aware of any new requirements.

HOW TO EFFECTIVELY REVIEW YOUR INSURANCE

Assess Your Life Changes // Start by reviewing any personal, financial or professional changes that may have occurred. Ask yourself:

• Have I recently bought a practice or major equipment to use in my practice?
• Have I hired or reduced my staff size?
• Am I working part time, or doing new/stopped doing any procedures?
• Has there been a change in my marital status or family size?
• Have I taken on more debt or made significant investments?

Answering these questions will give you a clearer idea of whether you need to update your coverage.

Evaluate Your Coverage Needs // With your life changes in mind, consider if your existing policies still meet your needs. Do you have enough health insurance to cover medical expenses, or have your deductibles and co-pays changed? Is your practice insurance sufficient to protect against the risk of natural disasters, fire or theft? What about your malpractice — are you paying for coverage you don’t need or are you missing any easy discounts?

Check Your Deductibles and Limits // Reviewing your policy’s deductibles and coverage limits can help you decide whether they still make sense for your practice or financial situation.

Review Policy Exclusions // Policies can have exclusions, and it’s crucial to be aware of them. For instance, most Business Owners policies may not cover flood damage, and Malpractice policies may exclude certain procedures unless you add coverage back into your policy. By reviewing your exclusions, you can decide whether you need additional coverage or if certain clauses should be adjusted.

Check for Policy Riders or Add-Ons // Some insurance policies offer riders or add-ons that enhance the coverage. Such as an “own occupation” endorsement on a disability policy. (Do you have that on your disability policy?)

Consult with MDIS // Any of the agents at MDIS can help you understand the details of your current policy and suggest better options based on your needs.

Document and Organize Your Policies // As you review your insurance policies, ensure that you keep them organized and document any changes made. This makes it easier to track your insurance coverage over time and ensures you can quickly access any policy details in an emergency.

Reviewing your insurance is not just about renewing policies every year — it’s about ensuring your coverage aligns with your current life, financial situation and practice goals. Make it a habit to review your policies regularly (at least once a year or after major life events) to ensure you’re getting the best possible protection at the best possible price.

The MDIS team can help with your insurance review. Call 800-944-7550 or email info@mdis4dds.com.

MedPro Risk Solutions offers a variety of on-demand educational programs on a range of risk management topics. These are for both office- and hospital-based healthcare providers and are available to both insureds and noninsureds. Insureds who successfully complete on-demand programs may be eligible for a risk management premium credit at their next policy renewal. Learn more about CE topics and contact MDIS to inquire about a policy discount if you are a Med Pro insured.

by Marc R. Leffler, DDS, Esq

In these days of every restaurant, hotel and concert — where you eat, stay, or attend — asking for online reviews of your experiences, it is neither unusual nor surprising for dental offices to do the same. And even when dental offices don’t seek online reviews, that does not stop patients from posting them. But beware of HIPAA constraints before responding, no matter how terrible or how glowing that review might be. Not only can an investigation and penalty ensue following an unauthorized disclosure based upon responding to a negative online review, but the same result might come to pass even when responding to positive ratings given online, as counterintuitive as that might seem. Patients “own” their HIPAA rights, so they are free to disclose/post anything they choose about their health, but that disclosure does not then constitute a waiver to allow the dentist to disclose about them about almost anything.

Dentists are not traditional vendors, but instead health professionals who are vested with the obligation of protecting their patients’ privacy, not only ethically, but statutorily as well. As such, dentists must not divulge any information about their patients, absent explicit written authority from the patient or a rule exception, which usually — but not exclusively — involves the sharing of health information among multiple providers who are treating the patient and who have a need to know.

Therefore, it cannot be emphasized enough that, before releasing or disclosing anything about any patient, the dentist must be in possession of a HIPAA-compliant document authorizing the release; in situations where a dentist might believe that sharing medical/dental information with another provider is warranted, the safest approach is a consultation with an attorney familiar with this subject matter. That extra step might be the difference between compliance and a large fine. And even when sharing information appropriately, HIPAA requires the methods for doing so include reasonable protections against the dissemination of that information to any person or entity other than specifically intended.

It also should be noted that, when situations which trigger online reviews involve claimed negligent treatment which injured the patient, leading to a malpractice lawsuit, the entire set of online events, and potentially the government actions in response, might be a source of intra-lawsuit litigation as to whether the issue could be explored in the usual discovery process and whether a jury might be able to be made aware of the events. That is not to say that it is a given that this issue would become a (distracting) part of a trial, but it is a potential unhelpful wrench that can be eliminated with due consideration in advance. Online responses to online stimuli might feel justified at the moment, but silence is often the better approach to take; a patient’s review does not constitute authorization for a response.

Online platforms have become realities of life, affecting virtually every aspect of our daily activities. For most of those activities, it is perfectly fine to give in to the temptations that set in motion various types of online posts. But doing so in the context of dental practice is entirely different, and it carries with it potential consequences that likely do not exist elsewhere. So, taking a step back, before publicly celebrating a patient’s satisfaction or defending a patient’s criticism, is a wise risk management tool. Finally, dentists ought to be aware that what office staff members post online in the name of the dentist is as though the dentist had personally done it: in this regard, dentists might wish to consider limiting who in the office — with a full understanding of ramifications — has such access to “speak” on the dentist’s behalf.

Marc Leffler is the MedPro Group Dental Risk Solutions Lead and Head of the Dental Advisory Board.