Hospital consultants represented by the Irish Medical Organisation have decided to suspend strike notice for seven days following an emergency meeting this morning.
The doctors had been set to strike from next Monday, March 14th. Notice of that action was to have officially been served today.
Strike action could still be served next Monday, in which case the IMO consultants could still strike the following week, from Monday March 21st.
A strike would cause chaos in hospitals throughout the State as clinics and elective surgeries would be cancelled.
A statement from the IMO following this morning's meeting of the consultant committee said the decision had been taken after members considered written proposals from the Department of Health and Children regarding professional indemnity cover for consultants.
The proposed strike centred on controversy over such insurance cover for consultants after the Medical Defence Union said it would no longer cover certain historic liabilities if the doctors were sued.
Minister for Health Mary Harney has assured consultants that none of them will be left without cover.
However, the IMO said today that was concerned that written proposals from the Department "do not fully reflect" assurances received at a meeting with the Tánaiste last Thursday.
At that meeting, the IMO asked for clarification on "important aspects" of the State's offer of support for consultants left without representation and "facing the prospect of multi-million euro court awards and damages".
Dr Christine O'Malley, chair of the IMO consultant committee, said: "Committee members are concerned that assurances received from the Tánaiste have not been fully reflected in subsequent written proposals received from the Department of Health and Children.
"It is essential that the opportunity is seized by the Department of Health and Children to conclusively address the concerns we raised at last week's meeting and that a final and decisive set of proposals is prepared over the coming week to truly reflect the assurances given at last week's meeting."
A spokeswoman for the IMO said the committee had asked the Department of Health to review the proposals outlined and that it would meet again when this had been done. The committee would have to make a decision on strike action depending on the outcome of that review, she said.
Consultants who are members of the Irish Hospital Consultants' Association will be not be going on strike following the association's acceptance of the Government's guarantees
The consultants are taking legal action against the Medical Defence Union. IHCA represents 1,800 consultants. Around 500 consultants have dual membership of the IMO and the IHCA.