definitions
Medicine can be a mine field when it comes to language, so here are some of the common terminologies used in the medical indemnity industry to help you.
When starting out as a medical or dental student, it is difficult enough to get your head around a lot of the new terminology; you shouldn’t have to struggle with the same when it comes to the technical terms of the financial services MIPS provide as member benefits. The following definitions are to take the guesswork out of trying to decipher some of the most important terms.
|
medical indemnity insurance
|
A type of legislated professional indemnity insurance specifically for health care professionals to cover the risks arising out of their provision of health care to a person.
|
|
cover for ‘professional issues’
|
An employer (hospital) may not provide an employee with legal advice and assistance regarding complaints and representation before inquests, health care commissioners, investigatory bodies and tribunals. For example, MIPS membership allows members to seek assistance for statements to the Coroner, appearing at an inquest or circumstances involving a Medical Board. (NB: In addition to 24/7 medico-legal advice from experienced colleagues, MIPS also provides members with extensive cover for professional issues in its Employer Indemnified practice categories.)
|
|
claims made insurance
|
Means you will be covered for eligible claims made against you in the period of insurance and notified in the period of insurance.
|
|
retroactive cover date
|
The medical indemnity insurance policy offered to MIPS members is a Claims Made insurance policy. Retroactive cover ensures that you have continuous cover for claims which you are currently unaware of that might arise from health care services provided by you in previous years. If you do not nominate retroactive cover you will not be provided indemnity for any incidents that may arise from health care services provided by you prior to your MIPS membership. Please note, MIPS may choose not to make an offer for any retroactive cover date required prior to 01/07/2000.
|
|
employer indemnified
|
In Australia, an employer such as a hospital is vicariously liable for negligent acts or omissions by an employee in the course of their employment.
|
|
primary practice
|
The details of your predominant private practice. If no private practice is undertaken, then use details of your predominant public practice.
|
| PSS |
The Premium Support Scheme (PSS) is a federal Government initiative to assist eligible doctors to meet the cost of their medical indemnity insurance. |
|
ROCS
|
The Run-Off Cover Scheme (ROCS) provides free run-off cover to doctors who leave the private medical workforce. This Government scheme covers eligible doctors for incidents that occurred while they were practicing, but are reported while they have ceased practice.
|
|
ERP policy
|
An Extended Reporting Period (ERP) membership category provides run off cover for practitioners who have ceased practice. |
|
exceptional claims scheme
|
The Government's Exceptional Claims Scheme (ECS) covers doctors for 100% of the cost of private practice claims that are above the limit of their medical indemnity contract of insurance (currently $20 million). The ECS was formally known as the 'Blue Sky' scheme. |