Home healthcare is a dynamic industry. Not only are you dealing with exposure changes based on client variation, but also changes in regulations. Understanding your unique risks can help you decipher what kind of home healthcare insurance you need.
Your focus needs to be on servicing clients. Being able to recognize and get coverage for some specific exposures will allow you to spend less time worrying about risk and more time providing quality care to your patients.
- Errors occurring during treatment that cause patient illness, injury or death
- Injuries caused to employees while lifting or moving patients
- Allegations from employees, patients and regulators asserting the actions of directors and officers caused financial loss
- Audits performed by Zone Program Integrity Contractors (ZPICs) and the Recovery Audit Contractor (RAC) program
- Violations of HIPAA laws due to the loss or theft of sensitive patient data
- An employee’s use of a vehicle to transport a patient or perform other work-related tasks
The Type of Insurance Program You Need
Try to seek insurance from one specialized company that can provide a comprehensive insurance package with the necessary coverage lines. General liability coverage is always a necessity; however, as a home healthcare organization, you’ll also want to consider errors and omissions liability, workers’ compensation, management and employment practices liability, regulatory audit coverage and cyber liability.
A business in the home healthcare industry can be a challenging but rewarding experience. Get home healthcare insurance to protect your company.