The Doctor is in(sured)

The Doctor is in(sured)

February 10, 2021
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Can you remember the first time you had to wear a hospital gown?  If you work in the medical industry, you probably don’t give them much thought.  You see them all the time.  Regardless of whether you are an orthopedic surgeon or a general practitioner, the gown material is always too thin, the strings never tie well, and “one size fits most” doesn’t really fit anyone.  
 
As uncomfortable as hospital gowns may be, they are of little importance to most physicians, as well as most patients.  Insurance on the other hand, should be high on the priority list.  Patients want assurance that their doctor is reputable and medical providers want coverage for the risks that come along with their profession.  The coverage that fits one practice well may leave another open to risk.  
 
Abuse Liability Insurance is recommended for most physicians due to their close contact with their patients.  Dental offices, oral surgeons, and practices that offer on-site anesthesia should be even more cautious.  Your decision to obtain this type of coverage should be based on your vulnerability to an accusation, not the likelihood that will occur.  Just because you would never take advantage of a patient, doesn’t mean you will never be faced with a claim.  If that ever happens, abuse liability coverage will help protect and defend your business.
 
Offices that maintain an inventory of products for sale or distribution, such as optometrists and nutritionists, can benefit from Spoilage Insurance, in addition to Commercial Property Insurance.  Theft is only one of many ways that equipment or inventory can be lost.  Equipment malfunctions, power outages, and natural disasters can all be devastating for your business without the right coverage.
 
Every medical practice should have Cyber Insurance or Data Breach Insurance.  A data breach would cause significant problems for any business, but it creates even more headache for offices that must be HIPAA compliant. The most effective coverage will factor in all the ways your office may be at risk: valuable physical documents, electronic data and communications, as well as confidential patient and employee information.
 
People don’t like hospital gowns because they leave them feeling exposed.  The same should not be true of your insurance.  We promise to take care of your business with the same care and respect that you show to patients like us day after day.  From all of us at Eschaton Insurance, thank you for all that you do to serve our community.