Your Ass could be exposed…

All of  us tend to operate under a optimism bias  – “it won’t happen to me”..  One area.. that if you are ignoring… could cost you dearly… that is INDIVIDUAL PROFESSIONAL LIABILITY INSURANCE..

If you work for a corporation, and you make a serious med error.. that ends up with a bad pt outcome… you have broken both the practice act and the company’s policies and procedures. Many of these corporation are spending tons of money annually pay fines when they get caught at doing something illegal – trying to increase profits.. or paying off small claims for med errors.

If you are part of a med error with a very bad outcome.. the pt, their estate or survivors will sue the company,you and if you are PIC.. probably you as well.. remember… you have agreed to be responsible for the entire legal operation of the Rx dept operation.

Most likely, the corporation will try – in court – to shift as much of the blame for the med error away from them… because you mis-filled it and broke the practice act and the company’s P&P. Remember, the company you work for is FOR-PROFIT and anything that will effect that final goal – and their stock price .. is going to be defended to make anyone else they can get to pay.. but not them..

You will probably be fired.. at least eventually.. especially if the plaintiff prevails… so how are you going to afford the legal fees to defend yourself, pay the judgement and now that you have been “outed” as “bad pharmacist”… with the current RPH surplus… find the next job..

Many Pharmacists are now finding themselves between their employer and the BOP… many of these individual professional liability insurance have a certain amount of money to pay for cost of legal cost of defending you before the BOP…

I personally know one RPH, whose policy paid up to $5000.00 for legal defense when the employer and the RPH/PIC got into a legal “pissing match” with the BOP… The  last premium for my policy was $144 for an ENTIRE YEAR.. you can do the math of the cost of a lawsuit and the premium against your pay rate. IMO..the math is very simple.. and the conclusion is equally as simple.

Use your brains and your checkbook and protect your financial ass…

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