Purchasing Alliance

NJAAP Members, we are pleased to offer you an exclusive membership benefit!

Receive a 20% discount on your MDAdvantage medical malpractice insurance premiums simply by joining the AAP/NJ Purchasing Alliance!

Benefits of Membership in the AAP NJ Purchasing Alliance

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Discount Information

Depending on current insurance rates, most full-time Pediatricians would qualify for a MDAdvantage medical malpractice premium discount of at least $1,800 and up to $3,600 per year (available to part timers as well), with a majority of Pediatricians receiving a discount of $2,500.

This discount is in addition to other discounts applicable to your policy, such as Risk Management (including EMR – Electronic Medical Records, EPW – Electronic Prescription Writer), Part-time, and New Doctor discounts.

Who is Eligible?

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Qualifying Pediatric Specialities:

Pediatrics – No surgery
Pediatrics – Minor surgery
Pediatrics – Subspecialties*
(*Physicians who practice in other subspecialities as recognized by the American Board of Pediatrics and who are members of the Purchasing Alliance are also eligible for a 20% discount if their practice derives 90% or more from the treatment of children aged 21 and younger based on number of patient visits)

Please note that MDAdvantage’s underwriting guidelines will apply to all prospectives insureds and premiums will vary based on a number of underwriting factors. If MDAdvantage declines to offer a policy at this time, the Purchasing Alliance membership fee will be refunded.

How to Apply for the Discount?

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1) AAP NJ Membership: If you are not an AAP/NJ Chapter member, you must fill out and mail the AAP/NJ application along with a $165 check for chapter membership to the National AAP:

American Academy of Pediatrics
72103 Eagle Way
Chicago, IL 60678

Click here for Chapter Membership application form.

2) AAP NJ Purchasing Alliance Membership: Please fill out and mail the Purchasing Alliance membership application along with a $150 check for the Purchasing Alliance membership fee to:

AAP NJ Purchasing Alliance
3836 Quakerbridge Road, Suite 108
Hamilton, NJ 08619

Click here for the Purchasing Alliance membership application form.

Contact PPA’s own Geri Warick for more information

201-525-1100 (x18)

gwarick@icnj.com

full site: http://www.aapnj.org/showcontent.aspx?MenuID=997

Your coverage, your way

As you may already know, professional liability insurance is available in two forms – occurrence or claims-made.  Although both provide protection, there are major differences between the two and selecting your policy type is one of the most significant decisions you’ll make when buying professional liability coverage.

 

Occurrence

Occurrence coverage responds to a claim based on when the dental treatment occurred, regardless of when the claim is actually made against you. As long as the incident occurred during the policy period, your occurrence policy will respond according to the terms and conditions of the policy — even if the claim is made after the policy period expires. For example, if a claim is made in 2012 based on treatment rendered in 2010, the 2010 occurrence policy responds.

 

With occurrence coverage, you receive a separate set of limits every year you have the coverage.

 

Claims-Made

Claims-made coverage, by contrast, responds to claims based on when the claim is made against an insured. For example, if a claim is made in 2012, based on treatment rendered in 2010, the 2012 claims-made policy responds, as long as the incident occurred after the policy’s retroactive date. The policy’s retroactive date is the date after which treatment must occur to trigger coverage.

 

Because claims-made policies do not cover claims made after the termination of the policy, you must secure “tail” coverage (an extended reporting endorsement) at the termination of the policy.

 

To learn more on occurrence vs. claims made and take our quiz on which is right for you please visit: http://www.medpro.com:80/web/ppdjk0gr/home

Low price dosen’t always equal great value,

At PPA, we understand you want a “great deal” when purchasing your healthcare malpractice insurance. But, if you’re involved in a claim, not only are your career and reputation at stake, but your personal assets can be as well.

 

Healthcare is changing: costly regulatory mandates are changing the way you provide patient care; insurance reimbursement rates are decreasing, and overhead expenses are increasing. Of course, your first instinct is to reduce the costs of doing business, and because healthcare liability coverage is a significant expense, you may feel compelled to shop around for the lowest priced coverage. But, as set out below, there are many reasons why the lowest priced coverage may not be the best value, and therefore, may not be in your best interest.

 

When considering healthcare malpractice coverage, we encourage you to review price in the context of value. Your selection of company and coverage will have a big impact on whether you’re getting the best coverage for your money.