insurance for outpatient care providers

Westwood will work with you to ensure your outpatient care provider clients have adequate insurance coverage for every threat they could face.

General Liability Insurance

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

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Professional Liability Insurance

Professional liability insurance, also known as errors and omissions insurance (E&O) and medical malpractice insurance, protects your business against claims of negligence, malpractice, errors, and omissions which may have occurred during the fulfillment of a professional service.

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Directors and Officers Liability (D&O) insurance

D&O insurance (Directors and officers liability insurance), shields the personal assets of company directors and officers, and where necessary, their spouses, from claims which could arise as a result of the decisions they made and actions they took within the scope of their regular duties.

Cyber insurance

Cyber liability insurance covers the financial costs associated with a breach of your cyber security, such as a ransomware attack. It also covers first party costs including event management, data restoration, financial costs to third parties, network interruption, and cyber extortion.

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HNO Insurance

HNOA, (hired non-owned auto insurance) is designed for organizations who regularly hire vehicles or require employees to use their own vehicles in the course of their work. In the case of an accident where your employee was liable, it could cover physical damage to that other person’s vehicle, medical expenses, the cost of hiring an attorney to defend your business.

Workers’ Comp. Insurance

Workers’ compensation insurance covers your employees for workplace injuries or illness. It provides them with medical and wage benefits.

This coverage is mandated by each state, with the wage and medical benefits varying from state to state. Workers compensation also protects business owners from civil suits by workers who become injured on the job.

Employment Practices Liability

Employment practices liability insurance (EPL insurance or EPLI), covers employers (PDF) against claims made by employees for:

Discrimination (based on sex, race, age or disability, for example)
Wrongful termination
Harassment
Failure to promote and other employment-related issues

Environmental Liability insurance

Environmental Liability insurance is liability insurance specifically designed to protect environmental liabilities. This is a specialized form of general, commercial liability insurance that provides financial protection against litigation and clean-up costs resulting from claims of injury or damage caused by pollution, contamination or hazardous waste disposals.

Property Insurance

Property Insurance covers unexpected damage or loss to property. The policy can be purchased to cover both structures and contents, which are separate policies in many cases. Property Insurance covers physical structures, not land. Medical facilities and aged care facilities need property insurance to cover the real property and all fixed items such as furniture, medical equipment, art works and tapestries.

Crime Insurance

Crime Insurance covers the insured party a reimbursement if their property is damaged due to a crime. Crime Insurance usually has a huge range of options and comes in different forms. It can be either a rider that can be attached to the existing insurance policy, or it is available as a completely separate product.

Auto Insurance

Auto insurance is a type of liability insurance coverage, usually mandated by law, for all mechanically propelled vehicles. It provides protection against losses resulting from traffic accidents and against liability that could also arise therefrom. A medical or aged care facility would typically have auto insurance on their fleet of vehicles as well as for any vehicles transporting patients to and from the facility.

Fully/Partially Funded insurance

Partially Funded insurance gives facilities the opportunity to pay a set premium for, and then in turn is partially covered for specific risks.

Fully Funded Insurance allows facilities to pay premiums to have coverage against all risks. In return, if they are unfortunate enough to incur any of the covered loss or injury, they are reimbursed their insurance policy amount.

Excess and umbrella coverage

Excess coverage provides an additional layer of protection over and above what an underlying policy provides. It applies to a single policy only.

An umbrella policy on the other hand, provides additional liability coverage over and above what is provided by a number of underlying policies.

outpatient care providers have special insurance requirements

Outpatient care providers need insurance coverage to protect them from litigation as they deal with many challenges. They must cope with high patient volumes, a lack of after-hours coverage, and limited access to specialists. Providers must also juggle competing demands from patients, payers, and regulators.

These challenges can lead to burnout and turnover among providers. They can also make it difficult for providers to deliver high-quality care, leading to errors and omissions being made and corresponding litigation. In some cases, providers may even choose to leave outpatient care altogether.

The challenges faced by outpatient care providers are also likely to increase as the population ages. This is because older adults tend to have more chronic health conditions that require ongoing care. As a result, outpatient care providers will need to be prepared to meet the needs of an aging population.

When it comes to insurance, outpatient care providers have special requirements. General liability insurance is a must, as is property insurance. As they are employing specialists, they need to have proper workers compensation and disability insurance in place. Medical malpractice insurance, otherwise known as Professional liability insurance is essential for all professionals working in the business.

Employment Practices Liability Insurance (EPLI) is also important, as it can protect the business from lawsuits alleging discrimination, sexual harassment, and other workplace issues.

Property Insurance is also necessary for outpatient care providers. This type of insurance protects the business from damage to its physical property, such as the building, equipment, and supplies. As they will keep patient records in a database, cyber insurance is also recommended. This type of insurance protects businesses from losses due to data breaches, cybercrime, and other cyber-related threats.