Benefits
More than just insurance cover, MIPS is a membership organisation committed to providing members with the security and support they need to practice with confidence. Cover includes:
- Civil liability for claims arising from your acts, errors or omissions in the provision of healthcare
- Cover for investigations, proceedings and the legal costs of defence in these matters
- Assistance to pursue indemnity from an employer or insurer
- HIV, Hepatitis B or Hepatitis C cover
- Administrative Staff cover (where applicable)
- Sole practitioner entity cover (where applicable)
See more at Why MIPS and in the Member Handbook Combined PDS and FSG..
Limit of indemnity
$20 million in the aggregate. The limit of cover for each claim is $20 million unless your AHPRA registration requires an automatic reinstatement where the limit per claim is $10 million plus one reinstatement of the same value.
Membership classification
Your MIPS membership classification is made up of your category, practice basis and endorsements. You should ensure your classification (including previous practice details) covers the healthcare services you provide. Refer to the Membership Classification Guide in the Member Handbook.
How your membership fee is calculated
MIPS uses a risk assessment approach when calculating membership fees to reflect the contribution required to appropriately cover your risk arising from your practice. The fee is individually calculated based on your membership classification for your current and past practice for up to three previous membership periods.
What is the ‘Indicative mature annual fee’?
Your quote may provide an ‘Indicative mature annual fee’ that differs to the ‘Estimated fee payable’.
If your previous practice (refer ‘Previous practice summary’) reflects a lower or higher risk, or you have recently commenced practice in Australia, these factors impact the calculation of your fee.
If your ‘Estimated fee payable’ is lower than the ‘Indicative mature annual fee’ you can expect to see a stepped increase in your membership fee at each renewal until you reach the indicative mature annual fee for that membership period.
Retroactive cover
Retroactive cover provides cover for new claims that arise from healthcare practice undertaken after your retroactive cover date.
It is an Australian Health Practitioner Registration Agency registration requirement that healthcare practitioners have appropriate cover including retroactive cover for their previous private practice. Your retroactive cover date should reflect your first date of practice in Australia or the date you first undertook any non-employer indemnified practice.
There is no cover for healthcare provided prior to your retroactive cover date or matters previously known to you or your previous indemnity provider(s).
The Premium Support Scheme (PSS) – Medical only
The Premium Support Scheme (PSS) is an Australian Government initiative that helps eligible medical practitioners with their medical indemnity costs. For more information or to apply complete the PSS Application.
Application and payment
Completed application may take 3-10 business days to process. Once approved, your Member Benefit Statement (tax invoice) provides details of the payment options including a monthly direct debit instalment arrangement.