insurance for cancer treatment centers

why do cancer treatment centers need insurance?

Insurance for cancer treatment centers

Westwood will work with you to ensure your cancer treatment center has adequate insurance coverage for every threat you could face.

Cancer treatment centers face a myriad of challenges that necessitate the need for malpractice or liability insurance. They include:

  1. Misdiagnosis or Delayed Diagnosis: One of the most critical areas of vulnerability is the risk of misdiagnosis or delayed diagnosis of cancer. Given the aggressive nature of some cancers, any delay or error in diagnosis can significantly impact a patient’s prognosis. If a patient or their family believes that a misdiagnosis or delay contributed to a worsened health outcome or limited treatment options, the treatment center could face malpractice claims.
  2. Treatment Errors: Cancer treatment often involves a combination of surgery, chemotherapy, radiation, and other therapies. Errors in administering these treatments, such as incorrect medication dosages, wrong-site surgery, or inappropriate treatment plans, can lead to severe patient harm or death.
  3. Informed Consent: Patients must be fully informed about the risks, benefits, and alternatives associated with their cancer treatments. Failure to obtain proper informed consent before proceeding with a treatment can lead to lawsuits if patients experience adverse effects they were not adequately warned about.
  4. Side Effects and Complications: Cancer treatments can have significant side effects and lead to complications. While some side effects are expected, if a patient suffers from severe or life-threatening complications that they believe were not properly managed, or were not adequately warned about such risks, the treatment center could be held liable.
  5. Failure to Monitor and Follow-up: Ongoing monitoring and follow-up are crucial in cancer care to assess how the cancer is responding to treatment and to manage any side effects. Negligence in monitoring a patient’s condition or failing to follow up can lead to claims if it results in a negative outcome for the patient.
  6. Breach of Confidentiality: Patient privacy is a significant concern in all areas of healthcare, including cancer treatment. Unauthorized disclosure of a patient’s medical information, including as a result of cyber crime, can lead to legal action for breach of confidentiality.
  7. Regulatory Compliance: Cancer treatment centers must comply with a wide range of regulations, including those related to the handling and administration of chemotherapy drugs, radiation safety, and patient care standards. Non-compliance can result in regulatory penalties and lawsuits.

Malpractice or liability insurance provides essential protection against these risks, covering legal fees, settlements, and judgments arising from claims of negligence or malpractice. It allows cancer treatment centers to focus on providing the best possible care to their patients, knowing that they have financial protection in place against potential legal actions. Given the complexity of cancer treatment and the high stakes involved, this insurance is not just a financial safeguard but a critical component of responsible healthcare delivery.

Westwood Insurance Group work with a number of different insurance carriers to find you the most suitable coverage at the best price. Get a quick quote now

what types of insurance do cancer treatment centers need?

General Liability Insurance

General Liability Insurance

General Liability covers medical expenses and attorney fees which result from bodily injuries and property damage that your facility or organization could be legally responsible for.

Professional Liability Insurance

Professional Liability Insurance

Also known as malpractice insurance, this  protects facilities against claims related to malpractice, negligence, or injury resulting from resident care. Staff members will typically be covered by professional liability insurance.

Sexual Abuse and Molestation Insurance

Sexual Abuse and Molestation Insurance

Provides coverage for your independent living organization against claims arising from alleged sexual misconduct or molestation by an employee or other representative of your organization. Essential for the healthcare industry.

Commercial Property Insurance

Commercial Property Insurance

This protects your facility against damage or loss to your buildings, equipment, and other property, which can happen as the result of various risks such as fire, theft, or vandalism.

Workers Compensation Insurance

Workers Compensation Insurance

Workers Compensation Insurance is usually mandated by law, to protect Cancer Treatment Centers and their employees in case of work-related injuries or illnesses.

Cyber Liability Insurance

Cyber Liability Insurance

Covers your organization against financial losses associated with data breaches, cyber attacks, and other cyber incidents. Insurers will usually conduct rigorous testing of your online systems as part of this policy package.

Contact Michael Richards now

Michael Richards, President, Westwood Insurance Group

Michael specializes in insurance for this particular group. You can call him or one of the team on the number below or fill out the form and he will get your message directly:

we've got you covered

General Liability Insurance

Protecting healthcare organizations against increasingly crippling litigation.

Professional Liability Insurance

Protecting medical professionals against increasingly crippling litigation.

Medical Malpractice Insurance

Protecting medical professionals against increasingly crippling litigation.

Cyber Liability Insurance

Protecting healthcare organizations & professionals against cyber attacks.

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traditional insurance products

Westwood have fostered exceptional relationships with underwriters and we go to great lengths to keep abreast of their latest products, changes in requirements and restrictions, including having weekly calls with the carriers, which you can see here, by joining our insurance insider group.

    Insurance products at Westwood Insurance Group

    You can find more information on the Insurance Products main page.

    If you have any questions on the different policies, check out our Insurance FAQ’s

    alternative structures

    Westwood President, Michael Richards has extensive experience in setting up alternative structures for larger clients. Here are some examples:

     

    If you think your client could be large and stable enough to benefit from starting or participating in a captive or has a special need for another alternative structure, contact Michael Richards now by phone: 855 351 7487.