If you are still convinced that a high-powered tomograph is the most expensive thing that can happen to your clinic, we must respectfully disagree. Today, the most significant line item in a medical facility's expenses is claims from dissatisfied patients. Here is why.
We have noted previously that iatrogenics is not simply a medical error, but any deterioration in a patient's condition connected to the actions or inaction of medical personnel. The economic consequences for a business can be quite substantial. These include:
- direct losses, consisting of costs for the repeated treatment of a patient or the correction of medical errors at third-party facilities;
- indirect losses, in particular the patient's lost earnings due to loss of capacity for work, which the clinic is obliged to compensate;
- moral damages as compensation for the patient's emotional suffering;
- reputational losses — expenditure on PR support and the restoration of client trust; as well as
- other legal costs, such as attorneys' fees, court fees, the commissioning of independent expert examinations, and so on.
It is critically important to understand that asset protection begins not in the courtroom, but at the stage of organizing your company's operations. In this context, the following key points must be kept in mind.
First, documentation compliance: informed voluntary consent must finally cease to be a mere formality and become a detailed description of risks, since case law equates improperly executed consent with its complete absence.
Second, a mandatory package of documents is required for any business, including job descriptions, regulations on structural subdivisions, clinical pathways and standards, record-keeping instructions, and policies for the protection of confidential information and personal data.
And finally, professional liability insurance: a quality insurance policy covers not only direct payments to injured parties, but also other associated costs.
Your business deserves protection. Do not wait for the first claim before you act. The team of professionals at Dynasty Law & Investment will help turn your paperwork into a genuine legal shield for the protection of your assets and reputation.
