Malpractice policy

botox-malpractice

Do I need a separate malpractice insurance to perform botox?

Often times, YES! Here are the steps you need to take to get yourself covered

  1. Find your current professional malpractice insurance policy and contact the provider and directly ask if your aesthetic practice will be covered. If the answer is yes, get this in writing (even if just by email). If you are starting your own business essentially “moonlighting” independently, it is highly unlikely your policy will cover aesthetic injections. Even if you are already carry your own malpractice as a contractor or have your own LLC, you still likely need a separate policy.
  2. Find a malpractice insurance provider that is well versed in medical aesthetics AND well versed in your medical specialty (for example NP, PA, CRNA, MD). I cannot stress this enough. This is a niche area of medicine. Just like any practice of medicine, you absolutely need to make sure you’re adequately covered. There are specific policies set-up for “moonlighting” aesthetic injectors, med spas, etc.

Considerations

  1. Will your practice be mobile or out of a permanent office or salon? This will affect your policy selection and rate.
  2. Do you need a collaborating physician? Some plans will include coverage for your collaborating MD.
  3. How many procedures do you think you will be performing a year? The insurance agent will want to know this estimate.
  4. Does your state have a minimum dollar amount of coverage that must be met? Virginia for instance is $2.5 million in coverage.
  5. Reference AmSpas’ article about common malpractice insurance mistakes.
  6. This is not a highly litigious field of medicine historically. Therefore policies are not unreasonably priced. For example I have a “moonlighting policy” that costs about $2700 per year that includes mobile practice as well as using a salon space. If you’d like to know more about the costs of starting your own botox business see here.