If your medical services are highly specialized to meet the needs of your patients, it only makes sense that your insurance plan should be, too. For all the various liability concerns that come with providing specialized medical services, your plan should be comprehensive enough to provide security for your practice – but it shouldn’t be so comprehensive as to insure you for liability issues that don’t concern you.
Coverage Types to Invest In
A good specialty insurance plan should offer coverage in the following areas:
- General liability
- Employment practices liability
- Workers’ Compensation
- Professional liability
As mentioned earlier, coverage needs may vary from provider to provider, but these coverage types encompass the common concerns that almost everyone will need to address.
Overview of Coverage
The general liability coverage predicts common problems (like lawsuits, broken equipment, injuries onsite, etc.) and it covers your practice for those worst-case scenarios. The employment practices specialty insurance covers you for any Human Resources issues that may arise. Worker’s compensation covers the cost of employee injuries sustained during work, as well as offering risk management strategies. Finally, professional liability protects your practice should any malpractice or mistake-based claims come through.
In short, a good specialty insurance plan will be tailored to your practice’s needs and comprehensive enough to have covered any potential concerns. Invest in great coverage today to protect your practice’s future.