Ah, fall! The freshness in the air, the time to start hibernating at home with good home-made food. But with the colder weather’s advantages comes its downfalls; for health professionals, fall rhymes with the flu and a higher amount of patients.
While you take care of your patients, Lussier is here to help you take care of your clinic. Do you have good insurance? Can you cover the financial impact of a loss?
Because a well-protected clinic is a healthy clinic, let’s take a look at the reasons to insure yours and see what coverage is essential for you.
Your Health Clinic, Your Asset
After putting so much effort into setting up your practice, it’s time to preserve it properly. But what exactly are we talking about when we talk about protecting an asset like a health clinic?
The following are some of the elements involved:
First, take people into account as part of the plan:
- Employees
- Patients
- Physicians
Then, property must also be protected by an appropriate insurance:
- Computer equipment
- Medical equipment inventory
- Buildings
What are the Essential Features of a Health Clinic Insurance Program?
Any good health clinic insurance should include the following benefits:
Civil Liability
Liability coverage protects you for costs incurred in the event of property damage or bodily injury to a patient.
Case in point: A patient falls in your poorly de-iced driveway and is injured. Liability coverage would cover the costs incurred if the patient were to sue.
Business Overhead Expenses
Business overhead expense coverage protects you when a disability, either yours or a co-owner’s, prevents your clinic from being able to continue operating.
Case in point: Your health clinic’s primary physician is off work due to a lumbar sprain. The business overhead expense coverage would allow you to receive an amount to continue to pay your fixed costs and the salary of your employees.
Equipment Failure Coverage
The equipment failure coverage, as its name indicates, protects you for costs incurred in case of breakage or damage to your equipment.
Case in point: The air conditioning system in your clinic suddenly stops working. The equipment breakdown guarantee allows you to receive an amount for its replacement.
Cyber Risk
Cyber Risk coverage protects you for costs incurred in the event of a computer attack or virus.
Case in point: An employee opened a fraudulent e-mail that infected your patient database. The cyber risk benefit allows you to receive payment for a data recovery service.
Professional Liability
Professional liability coverage protects you for costs incurred in the event of a lawsuit due to the error, omission or negligence of a professional in your practice.
Case in point: A physician in your office made an error in diagnosis for a patient who is now suffering consequences that affect his or her quality of life. Professional liability coverage allows you to receive an amount to cover the costs incurred if the patient is sued.
For the most extensive insurance coverage for your health care clinic, Lussier has designed O2XYGEN, a program tailored to your needs. Ask your broker for more information!
