Take care of your risks so you can take care of your patients.
Your patients depend on you. To continue providing care, you need to manage your risks. Whether you’re running a doctor’s office, a clinic, a medical spa, a home health business or a nursing home, robust healthcare business insurance provides vital protection for your organization, your providers, and your patients.
Common Healthcare Coverage Types to Consider
Mavrix provides insurance built for the unique risks of healthcare. From malpractice to employee liability, our plans protect your people, patients, and property so you can focus on care.
Medical Equipment Insurance Protection
Medical Malpractice Insurance
Healthcare Practice Insurance Solutions
In the healthcare sector, the stakes are high. If a piece of medical equipment breaks down or a facility has to close because of property damage, patient care can be put at risk. Robust insurance coverage can help you recover as fast as possible so you can get back to providing the care your patients require.
You also need to protect your healthcare organization from lawsuits that could threaten your bottom line and deplete your resources. Some lawsuits stem from employees, while others stem from patients and their families. Either way, having robust liability insurance in place can minimize the disruption to your healthcare business while protecting your employees so they can continue to provide care.
Frequently Asked Questions
What is healthcare business insurance and who needs it?
Healthcare business insurance provides coverage for a variety of businesses in the healthcare sector. It includes multiple policies designed to manage the property and liability risks that healthcare organizations face. It is critical for many different types of healthcare organizations, from hospitals, clinics, medical spas and medical offices to home health organizations, nursing care facilities and hospices. We can help you find the coverage you need, including:
- Medical Office Insurance Coverage
- Home Healthcare Business Insurance
- Urgent Care Center Insurance Coverage
- Nursing Home and Assisted Living Insurance
What types of coverage are included in medical office or clinic insurance?
Your medical office or clinic insurance program should be tailored to your needs. Common policies include professional liability insurance, malpractice insurance for small practices, property insurance, healthcare employee liability insurance and workers’ compensation insurance. You may also need other coverage types, such as directors and officers (D&O) insurance and cyber insurance.
Does healthcare business insurance include malpractice coverage?
Healthcare organizations may purchase malpractice coverage for their employees as part of their healthcare business insurance program, or healthcare providers may purchase malpractice coverage for themselves on their own. Don’t assume that you have coverage. A healthcare business insurance program consists of multiple policies and coverage types tailored to your needs. To ensure that your insurance program includes everything you need, review your policies and work with an insurance agent who is familiar with the needs of the healthcare industry.
How can insurance help protect healthcare facilities from liability claims?
If a healthcare facility is facing a lawsuit, liability insurance can provide coverage for the resulting legal costs, including the cost of defense as well as settlements or judgements. However, it’s important to have the right types of liability insurance in place. Commercial general liability insurance provides coverage for certain third-party claims involving property damage or bodily injury, but it will not cover claims resulting from medical care – for that, you need medical malpractice insurance. For example, if someone visiting your facility slips on a wet floor, your general liability insurance can cover the claim, but if a patient is harmed due to a missed diagnosis or substandard medical care, your medical practice policy can cover the claim. For employment-related claims, such as allegations of wrongful termination or discrimination, you need employment practices liability insurance, and for claims alleging errors or omissions in professional services, you need professional liability insurance.
What should small healthcare practices look for when choosing a policy?
Your goal is to secure coverage that aligns with your risks and provides adequate coverage in case of a loss. This requires a review of your exposures as well as a review of policy terms to check for restrictions or exclusions that could limit your coverage. An insurance agent who is familiar with the needs of healthcare organizations and the carriers that serve them can help you navigate this process.