Reliable coverage for those serving our loved ones and ourselves.
Healthcare operations insurance from an agency that understands your business.
The essential nature of healthcare facilities is undeniable. Each niche within the healthcare industry comes with its own unique risks, which can be addressed with specific healthcare facility insurance. The broad nature of businesses that fit within this category means there isn’t a one-size-fits-all model. However, there are specific coverages that organizations handling patient care and medical necessities need to consider.
We can find you the right healthcare operations insurance.
Each and every patient requires a different level of care based on their health. Skilled nursing and assisted living facilities don’t necessarily have the same insurance risks as urgent care facilities and critical access hospitals. Independent living facilities provide resources for a very different population than drug and alcohol treatment facilities and require different insurance coverages. In addition, pharmacies, providers of medical equipment, and ambulance services have other risks to be managed as well. We understand the unique risks of the healthcare industry and can recommend the right insurance for your needs.
We offer coverage solutions for the following:
- Skilled Nursing Facility
- Assisted Living Facility
- Independent Living Facility
- Memory Care
- Physical Therapy
- Dialysis Centers
- ABA Therapy
- Home Health Agency
- Adult Daycare
- Medical Spa
- Clinical Care
- Urgent Cares
- Critical Access Hospitals
- Drug and Alcohol Treatment Centers
- Medical Laboratories
- Blood Banks
- Non-Emergency Medical Transportation
- Physicians Group
- Ambulance Services
- Surgical Centers
Healthcare operations have specialized liability insurance needs.
Medical director’s liability coverage is a must for healthcare operations. While the medical director may not treat patients directly, their supervisory duties still carry a possibility for claims of negligence or errors. In addition to medical malpractice insurance, physicians and other medical providers should consider administrative defense coverage. This covers the legal costs of defending against actions taken by state licensing boards, peer review and credentialing, and other regulatory matters.
Communal living necessitates specific insurance.
While you hope it never happens, a healthcare operation may need to evacuate residents on an emergency basis. This can be quite costly. Emergency evacuation expense insurance can provide reimbursement for these expenses. Emergency event management expense insurance provides valuable protection to businesses that are adversely impacted by a violent event or outbreak of illness at their insured locations. Healthcare operations may opt to extend coverage for business income loss for times when they must close.
Caring for vulnerable populations carries other risks, too.
Businesses that provide such personal care to vulnerable populations can be faced with claims of abuse and molestation. These claims must be defended, and usually comes with a hefty price tag. Abuse and molestation insurance can help pay for defense costs, as well as damages that may be awarded by the court. For employees who may be sued or must defend against criminal charges, there is optional innocent party insurance as well.
Healthcare operations must also preserve their reputation.
Word of mouth and a good reputation is essential for healthcare operations. Claims of wrongdoing can create a very negative situation. This includes everything from abuse to malpractice or negligence, improper maintenance of the facilities, or other reputational claims. Public relations expense insurance can provide reimbursement for expenses associated with a criminal investigation, administrative proceeding, or claim that results from alleged violations of various federal, state, or local laws.
Healthcare operations are businesses and must be insured properly.
In addition to the specialized healthcare operations insurance your business needs, you should also maintain coverages common to most businesses. General liability, commercial liability, business auto, and employment practices liability insurance are all suggested. In this age of data breaches and cyber hacks, cyber liability insurance should also be on everyone’s radar. Workers’ compensation insurance is essential to cover injuries employees may sustain while on the job. If your facility uses expensive medical equipment, it’s also important to make sure proper coverage limits are in place for this valuable property.
To learn more about how specialized healthcare operations insurance can safeguard your business, contact us today.
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