Missouri Medical Spa Insurance Policy Information
Missouri Medical Spa Insurance. Medi spas combine cosmetic beauty and relaxation treatments with health care services normally only available at a doctor's office. Cosmetic amenities are provided by estheticians, and services include electrolysis, facials, hair care, manicures, massages, nutritional counseling, pedicures, and tanning.
Medical services, such as Botox treatments, chemical peels, dermal fillers such as Restylane and Juvederm, laser hair removal, light treatment for acne, liposuction, microdermabrasion, permanent makeup, skin corrections and other minor surgical treatments are performed by a medical doctor. Before offering medical procedures, the medical director evaluates each client. Records are established and maintained accordingly. While most of these establishments are day spas, some provide food, and/or lodging for extended stays.
There are certain risks that are associated with owning and operating a MO medical spa. Since you offer dermatological treatments, such as laser treatments, chemical peels, and Botox, and are working with your clients in such an intimate capacity, you and your staff work with technologies that alter physical appearances and have the potential to cause adverse effects.
Because of the nature of your business and the inherent risks that are associated with it, protecting medical spa with the right type of Missouri medical spa insurance coverage is vital.
Missouri medical spa insurance protects your facility from lawsuits with rates as low as $97/mo. Get a fast quote and your certificate of insurance now.
Why Insurance is Important for Medical Spa Owners
As a medical spa owner, you strive to offer your clients the best experience possible. You offer a wide-range of services, such as treatments to combat the effects of skin aging, acne, hyperpigmentation, hair removal, and a variety of other undesirable skin conditions.
You also strive to offer your clients with the most relaxing experience possible be providing a variety of relaxing and rejuvenating services, such as massage, wraps, and facials. All of these services are offered in an environment that mimics a day spa so that the clientele that you serve can truly relax, unwind, and have the most experience total relaxation and the most effective results possible.
Despite the fact that you take every precaution to offer the best care for your patients, errors can happen and unforeseen circumstances can arise. A client could file a lawsuit against you, alleging that you made an error that caused permanent damage. A vendor could slip and fall over a misplaced wire and sustain an injury. Your property could be damaged as a result of an act of vandalism or a fire. These are just some examples of the problems that could occur.
As the proprietor of a MO medical spa, you are liable for any accidents, injuries, and any legal claims that may be taken against you or your staff. You are also responsible for the building that your spa operates out of, as well as the contents within it.
Should something go awry, you could be looking at costly expenses that have the potential to cause significant financial upheaval. For these reasons, carrying the right type of insurance coverage is vital. Missouri medical spa insurance safeguards you from the above-mentioned risks, and more, and can prevent you from losing a substantial amount of money.
What Type Of Insurance Should Missouri Medi Spas Have?
In order to properly protect yourself from the risks that are associated with owning a medical spa and the exorbitant costs that you could be held liable for, there are several types of insurance coverages that you should have in place. Some of the most highly recommended forms of coverage include:
- Commercial General Liability - This type of insurance coverage protects you from any third-party accidents or injuries that could arise on your commercial property. It also protects you from any legal disputes that may arise as a result of any accidents or injuries that occur on your property.
- Errors and Omissions - Also referred to as professional liability or medical malpractice insurance, this type of coverage protects you against lawsuits that may be filed against you if a client claims the services you provide caused an illness, an injury, or an infection.
- Commercial Property - If your medical spa is damaged as a result of an act of vandalism or a fire breaks out, commercial property insurance will help to pay for the necessary repairs. It also covers the contents within your medical spa, including the equipment and tools that you use to treat your patients, so if machinery is stolen, your policy will protect you from the financial losses.
- Workers' Compensation - As the proprietor of a medical spa, you are responsible for any injuries or illnesses that your employees sustain. Workers' comp insurance will cover the cost of medical care that your staff requires as a result of a work-related accident or illness, as well as lost wages. It will also help to cover the cost of any legal action a staff member may take against you.
These are just a few of the Missouri medical spa insurance policies that medi spa owners and operators should carry.
MO Medi Spa's Risks & Exposures
Premises liability exposures are moderate due to the number of clients at the facility. A high standard of care is required when health care services are provided. To prevent trips, slips, and falls, all areas accessible to patients must be well maintained with floor covering in good condition. Aisles and walkways must be adequate and free of hair clippings and debris. Exits must be adequate in number, well marked and with backup exit lighting provided in case of power failure. Steps should have handrails, be illuminated, marked, and in good repair. Housekeeping should be excellent and spills must be cleaned up promptly.
Parking lots and sidewalks need to be in good repair with snow and ice removed promptly. Security of visitors in parking areas is often deemed the responsibility of the owner or operator of the premises. Factors to consider include exterior lighting, fencing, and any other security measures.
Tanning services may require the use of specialty insurance markets because of the relatively unknown loss potential from long-term exposure to radiation and the possibility of contracting cancer and related diseases.
If all or most of the professionals providing services at the spa are independent contractors, the insured's responsibility is similar to a general contractor's responsibility to its subcontractors. In these cases, injuries to independent contractors are part of the premises liability exposure and are not workers compensation exposures.
Maintaining a patient's privacy is critical. Examination rooms, check-in and checkout stations must be in private areas so one client cannot view information or overhear conversations regarding another client's confidential information.
Professional liability exposures are from the services provided by estheticians and physicians. The exposure increases if the spa fails to conduct thorough background checks to verify employees' credentials, education, and licensing if required by the state. Typical minimally invasive health care treatments are Botox treatments, dermal fillers such as Restylane and Juvederm, laser hair removal, liposuction, permanent makeup, microdermabrasion, skin corrections, and similar treatments.
Needles and other equipment must be sterilized and sanitized to prevent the spread of blood-borne infectious diseases such as hepatitis, HIV, and AIDS. Finally, inappropriate touching and sexual misconduct must be considered. If independent subcontractors are used, the applicant should verify that they have separate professional liability coverage.
Product liability exposures are for the products sold by the spa to the client for use after leaving the premises, such as shampoos, creams, body lotions, and cosmetics. Some spas supply dietary supplements, vitamins, nutraceuticals, and other ingestible items. If the spa sells non-standard, independently produced, or proprietary products, its exposure is that of a manufacturer.
Workers compensation exposures are due to the possible transmission of disease from a client. Gloves and masks must be worn at all times when working around any bodily fluids. Minor cuts, scratches, and abrasions occur with some frequency and may result in infection. Eye and skin irritation resulting from chemicals can also cause losses. Strains and sprains may occur as a result of aiding clients.
An employee may be injured due to inappropriate activity by a customer. Because patient information and billings are done on computers, potential injuries include eyestrain, neck strain, carpal tunnel syndrome, and similar cumulative trauma injuries that can be addressed through ergonomically designed workstations.
Some spas have mostly independent contractors and very few employees. While the contractual relationships between the spa and the independent contractors determine the workers compensation exposure, regulatory definitions of employee may supersede the contract terms.
Property exposures depend on the services provided. If the spa is primarily a physician's office, property will be limited to medical equipment used to perform procedures and standard office furnishings. Ignition sources include electrical wiring, heating, and air conditioning, and overheating of equipment. The equipment is highly susceptible to damage and must be maintained in a sterile condition.
If the spa is primarily for relaxation and cosmetology, providing only minor health care services, property exposures will include accumulations of hair clippings and any cooking operations conducted. Regardless of the type of operation, all electrical wiring must be up to code and equipment properly maintained. Excellent housekeeping is required and smoking should be prohibited. Business income and extra expenses may be a concern if the facility requires special equipment due to the time needed for repair or replacement.
Property of others exposures may be significant if employees or independent contractors supply their own equipment.
Equipment breakdown exposures are high if operations are dependent on medical equipment being available. All equipment should be maintained on an ongoing basis.
Crime exposures are usually minor. Most transactions are completed using credit cards, limiting the opportunity for theft. Ordering, billing and disbursement transactions should be handled as separate duties. Inventories and audits should be performed regularly. While guests' property is normally kept in a safe or locker on premises, it can be stolen by employees or other guests. Employee dishonesty coverage does not apply to independent contractors so their access to money and inventory should be limited.
Inland marine exposures include accounts receivable if the spa bills customers for its services, audio/visual equipment, computers, physicians and surgeons equipment (which can be extended to include all office furnishings), and valuable papers and records for clients' and suppliers' information. Physicians and surgeons equipment includes items that doctors may take off site to handle emergencies. Duplicates of all records and programs should be kept off site.
Business auto exposure is generally limited to hired and non-owned liability for employees running errands. If there are owned vehicles, all drivers should be licensed with acceptable MVRs. Vehicle maintenance should be ongoing and documented.
Medi Spa Insurance
To find what specific Missouri medical spa insurance policies you should invest in, how much coverage you should carry - and how much your coverage will cost - speak to a professional insurance agent that specializes in insuring medi spas.
Missouri Economic Data And Business Insurance Regulations
Are you a business-minded individual who is considering setting up shop in the state of Missouri? If so, before you take the leap and start putting plans into action, it's important that you do your due diligence to determine whether or not the state offers favorable conditions that will allow your business to succeed. It's also a good idea to find out the rules and regulations that are in place within the state regarding commercial insurance.
Below, we provide an overview of key information that relates to business development in The Show-Me State so you can determine whether or not it will be a suitable location for your business operations.
Economic Trends For Missouri Businesses
The latest reports from the Bureau of Labor Statistics reveal that the unemployment rate in the state of Missouri was 3.3 percent in May of 2019; 0.3 percent below the national average. The unemployment rate is a good indicator of whether or not a state offers favorable conditions for businesses, as it directly reflects the labor market; a low unemployment rate suggests that the climate is healthy, as there are enough jobs to sustain the overall population.
More jobs are a sign that more businesses are flourishing in the area, which directly reflects whether or not the economic climate is healthy for entrepreneurs. It's predicted that the unemployment rate in Missouri will remain within the recently reported range through upcoming years.
St. Louis is an ideal spot for business owners who are looking to set up shop in the Show Me State. It's estimated that for every 1,000 residents in the city, a new business is opened, which is rather impressive. Areas outside of St. Louis also prove to be promising for those interested in starting a business, including:
- Creve Coeur
- Des Peres
- Maryland Heights
- Sunset Hills
- Town and Country
While businesses in many areas flourish in the state, the following industries are seeing the most growth in MO:
- Advanced manufacturing
- Agriculture and bioscience
- Financial and professional services
- Health care and social assistance
- Retail trade
Commercial Insurance Regulations For Businesses In Missouri
The Missouri Department of Insurance regulates insurance in Missouri. Of all the things business owners can invest in, commercial insurance is the most important. In the event that something goes wrong, commercial insurance provides financial protection for the owners and operators of establishments, as well as the customers and vendors they work with and the employees that they rely on.
Certain types of commercial insurance are required in the state of Missouri. Business owners must invest in the following policies, regardless of what industry they are in. Workers' compensation insurance, a policy that covers employee-related accidents and illnesses that occur on the job. Other types of insurance coverage business owners need to carry depend on the nature of the business, as well as the size of the organization.
Additional Resources For Health & Beauty Insurance
Learn about small business health and beauty insurance coverages that help protect tattoo artists, salons, spas, estheticians, cosmetologists, barbers, hairdressers, nail salons and more from legal liability.
- Barber Hair Dresser
- Beauty Salon
- Day Spa
- Diet Nutrition Services
- Massage Therapy
- Medical Spa
- Nail Salon
- Permanent Cosmetics And Microblading
- Personal Trainer
- Tanning Salon
- Weight Loss Center
The health and beauty industries help people look good and feel great about their appearance and health. Some of the most popular are:
Cosmetologists - typically can help people with hair styling, cosmetics, and manicures and pedicures.
Estheticians - are trained to work with clients to treat skin care issues.
Hair Dressers & Barbers - offer a variety of services such as; hair cuts, styling, perms, hair dying and highlighting.
Health Club - Gyms, fitness centers, and health clubs focus on promoting healthy lifestyles and active living.
Massage Therapy, Reiki & amp; Acupuncture - can help relieve stress and improve your clients health. Work can be done in a salon, medical office, or home based. Also in your client's homes.
Permanent Makeup & Microblading - Offers coverage for permanent cosmetics, pigment removal and lightening, lasers/IPLs, and needling/MCA.
Salons - Similar to spas, salons are offer customers beauty treatments, services and products.
Spas - Have more exposures for the risks of faulty equipment, products, or unskilled employees that can injure customers.
Tattoo - Tattoo parlor and body-piercing coverage is designed to address the specific risks of artists and their studio.
Yoga & Pilates - forms of exercise designed to improve mind, body and spiritual wellness.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income with Extra Expense, Employee Dishonesty, Valuable Papers and Records, General Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivables, Bailees Customers, Fine Arts, Cyber Liability, Employment-related Practices, Environmental Impairment, Liquor Liability, Business Automobile Liability and Physical Damage, Garagekeepers and Stop Gap Liability.
Request a free Missouri Medical Spa insurance quote in Affton, Arnold, Ballwin, Bellefontaine Neighbors, Belton, Berkeley, Blue Springs, Bolivar, Boonville, Branson, Bridgeton, Cameron, Cape Girardeau, Carthage, Chesterfield, Chillicothe, Clayton, Clinton, Columbia, Concord, Crestwood, Creve Coeur, Dardenne Prairie, Des Peres, Ellisville, Eureka, Excelsior Springs, Farmington, Ferguson, Festus, Florissant, Fort Leonard Wood, Fulton, Gladstone, Grain Valley, Grandview, Hannibal, Harrisonville, Hazelwood, Independence, Jackson, Jefferson City, Jennings, Joplin, Kansas City, Kearney, Kennett, Kirksville, Kirkwood, Ladue, Lake St. Louis, Lebanon, Lee's Summit, Lemay, Liberty, Manchester, Marshall, Maryland Heights, Maryville, Mehlville, Mexico, Moberly, Monett, Neosho, Nixa, O'Fallon, Oakville, Old Jamestown, Overland, Ozark, Park Hills, Perryville, Poplar Bluff, Raymore, Raytown, Republic, Richmond Heights, Rolla, Sedalia, Sikeston, Smithville, Spanish Lake, Springfield, St. Ann, St. Charles, St. Joseph, St. Louis, St. Peters, Sunset Hills, Town and Country, Troy, Union, University City, Warrensburg, Washington, Webb City, Webster Groves, Wentzville, West Plains, Wildwood and all other cities in MO - The Show-Me State.
Also learn about Missouri small business insurance requirements for general liability, business property, commercial auto & workers compensation including MO business insurance costs. Call us (314) 499-6799.