Otolaryngologist Insurance California Policy Information
Otolaryngologist Insurance California. Otolaryngologists, more commonly referred to as ear, nose, and throat doctors (or ENT specialists), have a varied job description.
Otolaryngologists are licensed medical doctors who specialize in the diagnosis and treatment of disease, injury, or damage to the ears, nose, throat (ENT), and related areas of the head and neck.
They treat recurring ear and sinus infections, hearing problems, and perform surgical procedures including cochlear implants, cleft lip and palate corrections, and sinus surgery.
Some perform facial cosmetic or reconstructive surgery including rhinoplasty. While most otolaryngologists work from their own private offices, some are employed by hospitals or clinics.
These doctors can diagnose ear, nose, and throat disorders, help patients manage them by prescribing medications, and also carry out surgical interventions in this medical arena.
Since ENT doctors may manage conditions as varied as hearing disorders, allergies, sinusitis, and cancers of the head and neck, the work of an otolaryngologist is never done.
For an CA otolaryngologist who decides to go into private practice, that means that building a thriving ENT clinic is well within the realm of realistic possibilities.
Running a private clinic also, on the other hand, exposes otolaryngologists to a multitude of risks, as unexpected events could burden them with extensive unplanned expenses at any time.
It is crucial, then, to have a backup plan in case disaster strikes. What sort of otolaryngologist insurance California are required? Discover more in this short guide.
Otolaryngologist insurance California protects your ear, nose and throat practice from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
Why Do California Otolaryngologists Need Insurance?
Owning and managing a private ENT clinic will, for some otolaryngologists, be a dream come true.
To protect that vision, it is crucial to prepare for the worst even as you strive to to build a profitable practice that is able to help countless patients - otolaryngology clinics will, after all, be vulnerable to the same hazards any business could face, in addition to some threats specific to the medical field.
An act of nature, such as an earthquake, storm, or hurricane could cause extensive damage to your clinic, for example, leading to a costly temporary closure alongside massive repair costs.
Fire is another universal risk, and even if your clinic takes all possible precautions, the same may not hold true for your neighbors. Although taking steps to prevent criminal acts like (cyber) theft and vandalism will reduce your risk of facing these perils, they can never be completely prevented.
As physicians, the other major type of peril otolaryngologists who own and operate private clinics have to consider is liability risk. Whether you or an employee makes a wrong diagnosis, fails to offer the correct treatment, or makes a mistake during a surgical procedure, a costly lawsuit will be on the horizon.
CA otolaryngologists will be perfectly aware that even a simple allegation that occurs despite the fact that they provided excellent care can have devastating consequences, for their reputation and financial future alike.
The perils covered here do no amount to an exhaustive list, of course, but they do serve to explain why it is essential to carry comprehensive otolaryngologist insurance California that will protect your clinic in the event of unforeseen circumstances.
What Type Of Insurance Do CA Otolaryngologists Need?
The exact nature of your insurance needs will depend on the same factors that make an ENT clinic unique - the clinic's location, size, the scope of the care it provides, and its number of employees, to name but a few.
Otolaryngology clinics should always consult a reputable and experienced commercial insurance broker to help them craft the insurance plan that will best protect their financial interests in the event that they fall victim to major perils, because the best advice is advice tailored to your specific circumstances.
With that in mind, otolaryngologists who run a private practice will unquestionably require the following forms of otolaryngologist insurance California:
- Commercial Property: This type of coverage will safeguard your financial interests in the event your clinic is struck by acts of nature (typically excluding floods), theft, vandalism, and certain accidents. It will help cover the cost of damage to your building, as well as loss of or damage to its contents - such as medical equipment, computers, and furniture.
- General Liability: This broad form of liability coverage assists with the legal costs that accompany a third party bodily injury or property damage claim not pertaining to your medical practice. In short, it covers events such as vehicle damage caused by falling objects on your property or members of the public slipping on a wet floor.
- Medical Malpractice: Every physician, and every medical facility, will require medical malpractice insurance. This type of otolaryngologist insurance California covers the costs associated with allegations of negligent or erroneous care.
- Workers Compensation: An otolaryngology clinic that employs one or more people, whether they are medical staff or auxiliary staff (such as administrative assistants or janitors) will require workers comp as well. This covers the medical costs of employees who sustain occupational injuries, and in cases where the employee requires time off, it will further pay for their lost income.
These are just some examples of the forms of otolaryngologist insurance California coverage ENT's who run their own practice may require.
To gain insights into the additional kinds of insurance your particular clinic may benefit from, you are advised to talk your risk profile through with a commercial insurance broker specializing in the health care sector.
CA Otolaryngologist's Risks & Exposures
Premises liability exposure is moderate due to patients' access to the premises. To prevent trips, slips, and falls, all areas accessible to patients must be well maintained with flooring in good condition. The number of exits must be sufficient, and be illuminated, with backup lighting in case of power failure.
Adequate lighting, marked exits, and egress are mandatory. Steps should have handrails, be illuminated, marked, and in good repair. Parking lots should be maintained free of ice and snow.
Housekeeping should be excellent and spills must be cleaned up promptly. Overhead equipment should be moved before patients exit examination chairs. If surgery is performed, the area must be kept sterile at all times and carefully controlled. The patients' area must be designed for patients who are physically impaired following the surgery.
Escort procedures must be clear for all personnel. Maintaining a patient's privacy is critical. Examination rooms, check-in and checkout stations must be in private areas so one patient cannot view information or overhear conversations regarding another patient's' confidential information.
Professional exposures are extensive. The exposure increases if the provider fails to conduct thorough background checks to verify employees' credentials, education, and licensing. The more varied the procedures that the otolaryngologist performs, the more chance of professional loss.
A patient's medical history must be checked prior to prescribing medications. Very serious losses may result from failure to secure patient approval before performing procedures. Patients undergoing elective cosmetic surgery may have unrealistic expectations of results, particularly as these are paid for by the patient instead of a health insurer.
Written acknowledgment that the patient is aware of potential hazards and outcomes should be required. Training and safety equipment should be in place to prevent exposure to radiation when performing X-rays. Needles and other equipment must be sterilized and sanitized to prevent the spread of blood-borne infectious diseases such as hepatitis, HIV, and AIDS.
On-site surgery must be closely monitored, with an experienced trained individual administering and monitoring the use of anesthetic. Training and safety equipment should be in place to prevent exposure to radiation when performing X-rays.
Workers compensation exposure is due to the possible transmission of disease from a patient. Gloves and masks should be worn at all times when working around any bodily fluids. Unruly or unpredictable patients can cause harm including strains, back injuries, and contusions.
Training and safety equipment should be in place to prevent exposure to radiation when performing X-rays. 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.
Property exposure is moderate due to the use of expensive testing and diagnostic equipment. Ignition sources include electrical wiring, heating, and air conditioning systems, and overheating of equipment. All electrical wiring must be up to code and equipment properly maintained. A small fire which produces smoke can cause considerable damage when sterile equipment and environments are compromised.
Most property items are better covered on inland marine forms such as a computer form or a physicians and surgeons floater. The business income and extra expense exposure can be minimized if temporary facilities have been arranged with another otolaryngologist.
Equipment breakdown exposures are high as operations are dependent on diagnostic equipment being available. All equipment should be maintained on an ongoing basis.
Crime exposure is from employee dishonesty. The potential for identity theft is high. Background checks should be conducted on all employees handling money. All ordering, billing, and disbursement must be handled by separate individuals.
Money and securities are a concern if payments are accepted on premises. Deposits should be made regularly and money should not be kept on premises overnight.
Inland marine exposure includes accounts receivable if the otolaryngologist bills for services, computers, physicians and surgeons floater (which can include all office furnishings), and valuable papers and records for patients' and suppliers' information.
Computers are used for patients' records and other office purposes, but some diagnostic equipment is now also computerized. Physicians and surgeons equipment includes items that the otolaryngologist 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. Vehicles must be maintained and records kept in a central location.
Otolaryngologist Insurance California - The Bottom Line
To protect your ENT practice, employees and your patients, having the right otolaryngologist insurance California coverage is important. To see what options are available to you, how much coverage you should invest in and the premiums - speak to a reputable commercial insurance broker.
California Economic Data, Regulations & Limits On Commercial Insurance
If you are an entrepreneur and you considering having your operations located in California, it's essential that you have a full understanding about the economy of the state, as well as the regulations and limits that are in place for commercial insurance.
If you are considering opening up a business in the Golden State, you first want to make sure that it is a sound location for your operations. That means that you should understand some key information related to the state's economy, as well as the types of insurance coverages that businesses are legally required to carry.
Economic Trends For Businesses In California
In terms of job creation, the state of California exceeds rate of job growth in the United States; however, as the state's metropolitan areas are reaching employment capacity, job growth is starting to slow. In 2017, the rate of growth was 2.1 percent, which is the slowest rate of growth since 2011; but it is still expected to increase by 1.8 percent by the end of 2018, and 1.2 percent by the end of 2022.
In the month of April, the unemployment rate in California dropped to 4.2 percent, which is a record low. This unemployment rate is expected to remain consistent for the rest of the calendar year; however, it's forecasted that the rate will start to increase in 2022.
The strongest labor market in the state is in the Bay Area, where the unemployment rate was 3.4 percent in 2017. Southern California follows, with an unemployment rate of 4.5 percent in 2017. In the Central Coast region, the rate was 5.4 percent and in the Central Valley, it was 6.6 percent. While the unemployment rate is considered high in these areas, they have decreased dramatically over the last 12 month period.
The industries that are expected to see the most growth in CA include:
- Information Technology
CA Commercial Insurance Regulations And Limits
The California Department of Insurance regulates insurance in the Golden State. In the state of CA, commercial liability insurance is not required; however, since the state does not cap rewards for liability law suits, business owners are wise to invest in this type of coverage. The amount of coverage recommended varies depending on the size of the business and in the industry.
Workers' compensation insurance is the only type of coverage that business owners are required to have. This applies to any organization that employs a salaried or hourly staff, even if that staff only consists of one employee. Furthermore, if an employee is injured or becomes ill as a result of work, business owners must pay for CA workers' comp benefits.
Additional Resources For Medical Insurance
Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.
- Ambulatory Surgical Center
- Art Therapy
- Assisted Living Facilities
- Blood Banks
- Dental Lab
- Dental Office
- Diagnostic Imaging Centers
- Health Maintenance Organizations
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Clinics
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Medical, Surgical & Hospital Supply Store
- Mental Health Counseling
- Nurse Registry
- Occupational Therapy
- Osteopathic Physicians
- Physicians Office
- Plastic Surgeons
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
- Telemedicine Business Insurance
Health care providers are the most trusted individuals in our society. Ironically, they are the same ones who can do the greatest harm. They actually have the right to invade our bodies with knives and to poison us with chemicals - all in the name of health care and with the goal of relieving our symptoms and hopefully bringing about a cure.
While the actions of these professionals normally benefit us, insurance coverage must be available for the times when mistakes happen and things go wrong. These professionals and their facilities have extensive property exposures that are becoming more and more intricate and whose values are increasing exponentially.
The 'one size fits all' approach that once could have applied to insurance for health care providers and their facilities no longer applies.
Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.
Professional and medical malpractice exposures are the most expensive and difficult of all exposures for health care providers. The commercial general liability policy excludes these exposures so separate coverage is needed. Most professional liability policies are written on a claims-made basis and, as a result, tail coverage and retroactive dates are important coverage issues to be aware of when evaluating the insured’s coverage needs and comparing coverages.
The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.
As a result, state legislatures have taken the following actions to address the situation:
Imposed a dollar limitation of liability for malpractice suits.
Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.
Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.
Passed laws to modify tort law procedures and doctrines that relate to malpractice.
Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Physicians and Surgeons Floater, Valuable Papers and Records, General Liability, Employee Benefits, Professional, Umbrella, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Equipment Breakdown, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Cyber Liability, Employment-related Practices, Business Automobile Liability and Physical Damage and Stop Gap Liability.
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