Chiropractic Insurance Policy Information
Chiropractic Insurance. Chiropractors treat neuromuscular medical conditions by manipulating the patient's spine, either manually or with mechanical equipment. Chiropractic treatment is a form of alternative medicine that uses a holistic approach to managing a patient's overall health by focusing on the musculoskeletal system.
Corrections to problems in the muscles, joints, or bones can resolve many health issues. Straight chiropractic does not offer diagnostic services beyond spinal manipulation. Mixed chiropractic clinics add diagnosis and homeopathic products to their treatment options.
Some patients view the chiropractor as a substitute for a primary care physician. Chiropractors are required to be licensed in each state.
Like other medical professionals, as a chiropractor, you need to make sure that you have comprehensive insurance coverage that prevents you from absorbing liability in your practice. Working as a chiropractor leaves you at risk from patients who file claims due to malpractice and other events.
While your job is to relieve pain, dissatisfied customers often file claims against their treating chiropractors, leading to loss of business, sullied reputations, and financial distress. This is why chiropractors need chiropractic insurance.
Chiropractic insurance protects your practice from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked dhiropractic insurance questions:
- What Is Chiropractic Insurance?
- How Much Does Chiropractic Insurance Cost?
- Why Do Chiropractors Need Insurance?
- What Type Of Insurance Do Chiropractors Need?
- What Are Chiropractor's Risks & Exposures?
- What Does Chiropractic Insurance Pay For?
What Is Chiropractic Insurance?
Chiropractic business insurance is a type of insurance coverage specifically designed for chiropractors and chiropractic practices. This insurance helps protect chiropractors from financial loss in the event of a lawsuit or other liability claim, such as a patient injury or malpractice. Chiropractic business insurance can include coverage for general liability, professional liability, property damage, workers' compensation, and more.
The coverage and policy options vary depending on the insurance company, but the goal is to provide chiropractors with the protection they need to operate their businesses with peace of mind.
How Much Does Chiropractic Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small chiropractic practice ranges from $37 to $59 per month based on location, services offered, payroll, sales and experience.
Why Do Chiropractors Need Insurance?
According to statistics, one out of every three medical professionals offering chiropractic services has faced a claim within the last year. If you find yourself among their ranks, you will want to have a good chiropractic insurance policy in force.
While many states require that all medical professionals have malpractice insurance, even in states that do not, this insurance is a necessity that you should not be without. Even if you work for an employer who offers coverage, it may not fully cover claims against you.
The consequences that can result from being uninsured and practicing chiropractic medicine can be enormous.
The chiropractic field is growing by nearly 28 percent each year, with nearly 53,000 active chiropractors working in the field. By 2020, the BLS anticipates up to 15,000 new jobs in the field. As a chiropractor, you face inherent risks that are prevalent throughout the medical field and specific to your profession.
When determining whether or not you can afford chiropractic insurance for your practice, the real question is whether or not you can afford not to have it. Without coverage, claims are directed to you personally, and you will be forced to face the claim and the potential financial loss on your own - all the while paying for your own legal counsel.
What Type Of Insurance Do Chiropractors Need?
An professional agent can help you find the right level of coverage for your chiropractic practice and the risks specific to your job. The specific type of policy you purchase, its details, and its limitations all affect your business, whether you work independently or own your own office.
Consider these chiropractic insurance types when searching for a policy:
- General liability insurance. This type of insurance covers claims from patients who are injured while on the premises. It will also cover damage to patients when you visit them in their homes or pay for property damage due to your actions while making house calls. Choose insurance in appropriate coverage limits to ensure that you are fully protected.
- BOP coverage. A BOP policy is a business owner's policy that usually combines property insurance and general liability insurance into one umbrella. You can add additional coverage types and riders to this type of policy.
- Business interruption insurance. If your practice is shut down due to a covered event, this coverage pays for relocation to another facility, either on a permanent or temporary basis. It also provides you with lost income reimbursement.
- Worker's compensation. If you have people working for you, you are required to add worker's compensation as one of their benefits. Workers comp. protects employees who are injured or become ill at work due to a job-related issue.
Chiropractic Malpractice Insurance
Even if you have a good reputation and have an excellent track record of satisfied patients, there is always the potential when you work with the public to encounter a patient who claims that you injured them during the course of chiropractic treatment.
Even if the case is eventually dropped or the judge doesn't side with the plaintiff, you will still be out money for a legal defense and the time and effort spent fighting the claim.
What Are Chiropractor's Risks & Exposures?
Premises liability exposure is moderate due to patients' access to the premises. To prevent slips, trips, or falls, all areas accessible to patients must be well maintained with floor covering in good condition. The number of exits must be sufficient, and be well marked, with backup lighting in case of power failure. Steps should have handrails, be illuminated, marked, and in good repair. Parking lots should be maintained free of ice and snow.
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.
Products liability exposure may include the sales of ointments, herbal treatments, and nutritional programs. If the chiropractor has developed his or her own products, the exposure increases to that of a manufacturer.
Professional exposures are high. The exposure increases if the provider fails to conduct thorough background checks to verify employees' credentials, education, and licensing. The more types of procedures that are performed, the greater the chance of injuring a patient. Because electrical impulse machines are used in treatment, care must be made to prevent high dosage or over usage. X-ray machines should be safeguarded to prevent overexposure to the client and others.
While the straight chiropractor primarily handles spinal manipulation, the mixed chiropractor may become involved with diagnosis and unique treatments involving herbal remedies and other therapies. Investigations should be made into the types of treatments and other services offered. Finally, inappropriate touching and sexual misconduct must be considered.
Workers compensation exposure comes from contact with patients and from possible transmission of disease from a patient. Gloves and masks should be worn at all times when working around bodily fluids. Employees should have access to vaccinations to prevent diseases. Unruly or unpredictable patients can cause harm including strains, back injuries, and contusions. Because of the physical manipulation of the patient's body, arm and back injuries are common and the chiropractor can be accidentally struck by a patient.
Training and safety equipment should be in place to prevent exposure to radiation when performing X-rays. Since 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 to fire and crime is very light. 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. Most property items are better covered with a physicians and surgeons inland marine floater. The business income and extra expense exposure is very low as operations can be quickly resumed at an alternate location.
Crime exposure is from employee dishonesty of both money and inventory. The potential for theft, directly or by means of identity theft, is great. Background checks should be conducted on all employees handling money. All ordering, billing, and disbursement must be handled by separate individuals. Monitoring must be constant.
Inland marine exposure includes accounts receivable if the chiropractor bills for services, computers, physicians and surgeons equipment floater items (which can include all office furnishings), and valuable papers and records for patients' information. Duplicates of all records and programs should be kept off site.
Commercial 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.
What Does Chiropractic Insurance Pay For?
Chiropractors can be sued for various reasons, some of which include:
Malpractice: This occurs when a chiropractor fails to provide a reasonable standard of care to a patient, resulting in injury or harm. For example, if a chiropractor performs an adjustment on a patient's neck without taking proper precautions and the patient suffers a stroke, the chiropractor could be sued for malpractice.
Misdiagnosis: Chiropractors can be sued for misdiagnosing a patient's condition, leading to delayed treatment or inappropriate treatment. For example, if a chiropractor misdiagnoses a patient's back pain as a muscular issue and prescribes stretching exercises, when in reality the patient has a herniated disc that requires surgery, the chiropractor could be sued for misdiagnosis.
Informed consent: Chiropractors have a duty to inform patients of the risks and benefits of treatment before proceeding. Failure to obtain informed consent can lead to lawsuits. For example, if a chiropractor fails to inform a patient of the risks associated with a particular treatment and the patient suffers an adverse reaction, the chiropractor could be sued for lack of informed consent.
Sexual misconduct: Chiropractors can be sued for sexual misconduct with patients, which includes any inappropriate or unwanted sexual contact or behavior. For example, if a chiropractor engages in sexual behavior with a patient during a treatment session, the chiropractor could be sued for sexual misconduct.
Insurance can protect chiropractors in these situations by providing coverage for legal fees, damages, and other expenses associated with the lawsuit. For example, malpractice insurance can cover the costs of defending a chiropractor in a malpractice lawsuit and any damages awarded to the plaintiff. Informed consent and sexual misconduct insurance can also provide coverage for legal fees and damages in the event of a lawsuit.
Overall, insurance can provide a level of protection for chiropractors in the event of a lawsuit, helping to mitigate the financial and reputational impact of such claims.
Commercial Insurance And Business Industry Classification
- SIC CODE: 8041 Offices and Clinics of Chiropractors
- NAICS CODE: 621310 Offices of Chiropractors
- Suggested Workers Compensation Code(s): 8832 Physician & Clerical
8041: Offices and Clinics of Chiropractors
Division I: Services | Major Group 80: Health Services | Industry Group 804: Offices And Clinics Of Other Health Practitioners
8041: Offices and Clinics of Chiropractors: Establishments of licensed practitioners having the degree of D.C. and engaged in the practice of chiropractic medicine. Establishments operating as clinics of chiropractors are included in this industry.
- Chiropractors, offices and clinics of
- Clinics of chiropractors
Chiropractic Insurance - The Bottom Line
Working with an agent who is adept at understanding the nuances of the insurance industry as they relate to medical professionals is key to getting the right coverage for your chiropractic business. A seasoned agent knows the ins and outs of the industry, and he or she can recommend the right policy solution for your specific needs, the risks you face, and the potential hazards that apply in your line of work.
Brokers can also work with several companies to help you compare rates and find a chiropractic insurance policy that meets your needs and budgets while keeping you fully protected from potential liability.
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 industry is a highly regulated sector, with strict rules and guidelines in place to ensure the safety and effectiveness of the products and services being provided. In addition to meeting these regulatory requirements, businesses in this industry also face a number of other risks and potential liabilities. For example, customers may suffer adverse reactions to products, or employees may suffer injuries while providing services. In these cases, the business could be held liable for any resulting damages or losses.
Business insurance can help protect a health and beauty business from these types of risks by providing financial coverage in the event of a claim or lawsuit. For example, a commercial insurance policy may provide coverage for medical expenses or damages that result from a product liability claim. It may also cover legal fees and other costs associated with defending the business against a claim.
In addition to protecting against financial losses, insurance can also help protect the reputation of a health and beauty business. If a business is sued or faces a costly claim, it can damage the business's reputation and negatively impact its bottom line. By having insurance in place, a business can show its customers and clients that it is prepared for any potential risks and is committed to protecting their safety and well-being.
Overall, commercial insurance is an important consideration for any business, but it is especially important in the health and beauty industry due to the unique risks and liabilities that businesses in this sector face. By having the right insurance coverage in place, businesses can protect themselves, their customers, and their employees, and ensure that they are able to operate with confidence and security.
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.