“They don’t have to carry individual medical malpractice insurance, but they are required to post a bond. So, technically, they are still insured.” NOT QUITE!

She goes on:

I was completely unaware of this dilemma. It has taken me five years to discover the remaining piece of the puzzle.

The actuality is doctors are even exempt from posting a bond, under certain circumstances. In Florida, doctors merely have to promise to pay, either the amount of a judgment, or $100,000 whichever is the lesser. When a doctor elects to practice ‘naked’, the DOH only requires the doctor to display a declaration, of the physician’s financial responsibility, as posted, on the Florida Board of Health website. http://ww2.doh.state.fl.us

“I have elected not to carry medical malpractice insurance, however, I agree to satisfy any adverse judgments [sic] up to the minimum amounts pursuant to s. 458.320(5)(g) 1 or 459.0085(5)(g)1, F. S. I understand that I must either post notice in the form of a “sign” prominently displayed in the reception area or provide a written statement to any person to whom medical services are being provided that I have decided not to carry medical malpractice insurance. I understand that such a sign or notice must contain the wording specified in s. 458.320(5)(g) or 459.0085(5)(g), F. S.”

What did I understand this to mean when I first read this statement? Simple, they agree to their financial responsibility. If they make an error, they still have to pay. This makes perfect sense. No problem. Doctors earn plenty of money. Doctors have plenty of money.

No posting of a bond, but they agree to a “financial responsibility”; another simple word game.

Then you find yourself the victim of a doctor’s negligence. This is where the gray area grows exponentially.

The FL Dept of Health website answers questions about this for doctors seeking to be licensed in FL as follows:

Financial Responsibility :

You are required to provide the Board of Medicine with information regarding your financial responsibility:

when applying for initial licensure;
upon licensure renewal; or
whenever there is a change in your financial responsibility status.
To report a change in your financial responsibility status, please print and fill out the Florida Financial Responsibility form (pdf – 39kb). Mail the completed form to Board of Medicine, 4052 Bald Cypress Way, Bin #C03, Tallahassee, Florida 32399-3253. You may also fax the form to us at (850) 488-0596 or e-mail it to Shirley_Morss@doh.state.fl.us.

You may also review the following Florida Statutes for more information regarding financial responsibility requirements:

s. 458.320, F.S. (medical doctors)
s. 459.0085, F.S. (osteopathic physicians)
Q. What is Financial Responsibility?
A. The kind of insurance coverage you have at the time you are filling out your licensure application or renewal.

Q. Am I required to have professional liability coverage?
A. No. For more information regarding other financial responsibility options or exemptions, please see s. 458.320, F.S., and s. 459.0085, F.S.

Q. Do I need a bond of any kind?
A. There is no bond required. You may choose to demonstrate financial responsibility with an irrevocable letter of credit or an escrow account.

Q. Can I select more than one option for my financial responsibility?
A. No, you must select the one option that best describes your current financial responsibility situation.

Q. Am I required to send you a copy of my professional liability coverage policy?
A. You may be required to produce a copy of your policy if you are audited by the Licensing and Auditing Services Unit. However, you are not required to send a copy of your policy when applying for initial licensure.

Q. Am I required to inform the Board of Medicine if my professional liability coverage is changed or cancelled?
A. Yes. To report a change in your financial responsibility status, please print and fill out the Florida Financial Responsibility form (pdf – 39kb). Mail the completed form to Board of Medicine, 4052 Bald Cypress Way, Bin #C03, Tallahassee, Florida 32399-3253. You may also fax the form to us at (850) 488-0596 or e-mail it to Shirley_Morss@doh.state.fl.us.

You can review the following FL Statutes for more detailed info:

s. 458.320, F.S. (medical doctors)
s. 459.0085, F.S. (osteopathic physicians)

When all is said and done in FL a medical doctor’s max liability is 100,00 and an osteopathic physician’s is $300,000.

SO, buyer beware. Millions of $’s of restitution are not in the offing.