Facing the risks of operations is a challenge for any business, but those that work in the medical field or allied health industry seem to bear a more significant burden of taking care of both their company’s health and that of their clients. Healthcare professionals are under an ethical and legal obligation to provide the best in medical attention and care to their patients, but accidents and loss can still occur. When these situations occur, legal action is often the first resolution sought on behalf of the patient.
The allied health industry is complex and constantly changing, making it difficult for the average administrator to understand how many of the risks will be covered by their current allied health insurance plan. The team at Huntersure recommends working with an industry expert in areas of insurance, as the broker will be aware of the legal and risk management expectations your policy should include. Some of the more common risks experienced by those in allied health include:
- Health insurance regulations
- Changing healthcare laws at both state and federal levels
- Patient privacy protection in relation to cyberattacks or administrative negligence
- Slips fall, and other facility accidents
- Failure to follow established procedures and policies for patient care
Whether claims arise from these concerns or others, the financial cost of legal defense or settlement can devastate your company’s bottom line. Carrying comprehensive insurance can help with your financial responsibility for these issues.