Binding arbitration is a process where we bring our issue to a panel of people, who both of us have selected and agreed upon, to hear our grievance. The panel is usually 3 people, 2 physicians and an attorney. The patient and STATMed share the cost of hiring the panel. The panel hears the grievance, and decides on a solution. You are not obligated to abide by their decision, and you can still hire a malpractice attorney, but often the decision of the panel is fair and the resolution comes about much faster than a malpractice suit.
In order to be seen at STATMed, you are required to sign the Binding Arbitration agreement. If you don’t feel comfortable signing the agreement, it would best for you to see another provider for your health care.
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STATMed asks that you sign a form stating that you will agree to binding arbitration in case we have a disagreement. We’ve decided to do this to try and reduce the ridiculous cost of malpractice insurance and to put a pause in the process of suing us in the hope that a resolution can be found without going through the courts.