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Medical Clinic Insurance Policy Information

Medical Clinic Insurance. Medical clinics - also called ambulatory clinics or outpatient clinics - play a tremendously important role in providing primary care to patients.

Medical clinics provide healthcare services on an outpatient basis. While originally formed to provide low-cost medical services to the poor and destitute and to provide a learning facility for medical students, they now provide the services one could normally obtain in a doctor's office.

Many clinics have become specialized treatment centers that provide a service or group of services in a particular field of medicine such as pediatrics or physical therapy. Other clinics are part of a Health Maintenance Organization (HMO) and provide medical treatment to group participants.

A clinic generally employs licensed primary care doctors who pre-screen patients according to their symptoms, prescribe medication for common ailments, and refer patients in need of more focused medical attention to specialists.

Most doctors working in clinics refer patients to a hospital or other medical facility for laboratory tests, surgery, or post-operative care.

Basic health care needs like the treatment of minor traumas, the diagnosis of common medical conditions, and the routine monitoring of and treatment for chronic illnesses can all be overseen by these clinics. They are typically staffed by primary care physicians as well as nurses and physician assistants.

While medical clinics frequently serve as a first point of call for patients in crisis, these facilities themselves are also vulnerable to a range of risks. To protect a clinic's financial health, it is vital to "diagnose" the vulnerabilities and take proactive steps to minimize the odds that a clinic will encounter a major peril.

Should disaster strike regardless, a comprehensive insurance plan comes in as the "treatment". What types of medical clinic insurance are needed, though? Discover more by reading on.

Medical clinic insurance protects outpatient facilities from lawsuits with rates as low as $137/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked broom and brush medical clinic insurance questions:

• What Is Medical Clinic Insurance?
• How Much Does Medical Clinic Insurance Cost?
• Why Do Medical Clinics Need Insurance?
• What Type Of Insurance Do Medical Clinics Need?
• What Does Medical Clinic Insurance Cover & Pay For?

Why Do Medical Clinics Need Insurance?

medical clinics can, like any other business or public entity, be struck by a wide range of perils that could all have devastating financial consequences. The risks a medical clinic faces include those specific to the medical field as well as the very same risks that could befall any commercial venture.

Acts of nature - as natural disasters such as earthquakes, floods, and wildfires are called in the insurance industry - could ravage a clinic overnight, destroying valuable medical equipment in the process. Threats of vandalism and theft are likewise ever-present.

Perhaps a patient with a substance abuse problem raids the clinic's pharmaceuticals, or maybe a hacker breaches sensitive patient data stored electronically. Employees, but also members of the public, could be hurt on the premises as the result of an accident or an act of negligence.

All these perils, and many others, can do such damage to a clinic's bottom line that it would, without insurance, be almost impossible to recover. For this reason, carrying the best possible medical clinic insurance should not be seen as a burden but an investment - a backup plan in case things go wrong.

Medical Clinic'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 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.

Housekeeping should be excellent and spills must be cleaned up promptly. 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 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 liability exposure is extensive as most clinics serve patients either who have no regular physician or whose regular physician is unavailable. Decisions are made based on limited background information with verification of medical history generally unavailable. The exposure increases if the provider fails to conduct thorough background checks to verify employees' credentials, education, and licensing.

Staff turnover is high in clinics, disrupting continuity in patient care. Records must be well-documented and prior data obtained as much as possible. The prescreening questionnaire is vital. Very serious losses may result from failure to secure patient approval before performing procedures, including vaccinations.

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 the anesthetic. Finally, inappropriate touching and sexual misconduct must be considered.

Workers compensation exposure is due to the possible transmission of disease from a patient. Gloves and masks must be worn at all times when working around any bodily fluids. Unruly or unpredictable patients can cause harm including strains, back injuries, and contusions.

Employees should have access to vaccinations to prevent diseases. 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.

Workers who travel off site may encounter difficult circumstances, especially when going into patients' residences. Procedures should be in place to monitor the off-site exposure and provide for emergency backup.

Property exposure is high due to the use of expensive diagnostic and medical 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.

Excellent housekeeping is required and smoking should be prohibited. A small fire, which produces smoke, can cause considerable damage when sterile equipment and environments are compromised.

If pharmaceuticals are kept on premises, theft is a concern. These items should be inaccessible for unauthorized use and stored in a protected area after hours. Most property items are better covered on inland marine forms such as a computer form or the physicians and surgeons floater.

The business income and extra expense exposure can be minimized if the clinic has arranged for temporary facilities with another clinic.

Equipment breakdown exposures are high as operations are dependent on medical equipment being available. All equipment should be maintained on an ongoing basis.

Crime exposure comes from employee dishonesty of both money and inventory, particularly relating to drugs on premises. The potential for theft, directly or by means of identity theft, is great. Background checks should be conducted on all employees with access to drugs or money.

Since drugs are tempting and susceptible to theft, employee access must be restricted and carefully monitored. Ordering, billing and disbursement transactions should be handled as separate duties. Inventories and audits should be performed regularly.

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 exposures include accounts receivable if the clinic bills for services, computers, physicians and surgeons equipment 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 most medical equipment, such as video equipment and X-ray machines, is also computerized.

Physicians and surgeons equipment includes items that doctors may take off site to handle emergencies. A medical clinic will generally include sophisticated computer and medical equipment, especially if it specializes in a particular medical field. Duplicates should be made of all records and stored 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 in a central location.

What Does Medical Clinic Insurance Cover & Pay For?

There are various reasons why medical clinics can be sued, some of which include:

Misdiagnosis or delayed diagnosis: If a doctor fails to diagnose a medical condition or diagnoses it later than is reasonable, the patient may suffer harm and may choose to sue the medical clinic.

Medication errors: Medication errors such as prescribing the wrong medication, incorrect dosage, or failing to consider a patient's allergies or other medical conditions can lead to severe harm.

Surgical errors: Mistakes during surgery, such as leaving surgical instruments inside the patient, performing the wrong procedure, or damaging surrounding tissues, can cause significant harm.

Failure to obtain informed consent: Before any medical procedure, a patient must be informed of the potential risks and benefits and give their consent. If the doctor fails to obtain proper consent or misrepresents the risks, the patient may sue for damages.

Negligence: Any act of negligence that causes harm to the patient can lead to a medical malpractice lawsuit, such as failing to follow standard procedures, ignoring patient complaints, or failing to refer a patient to a specialist.

Medical clinics typically carry malpractice insurance to protect themselves from potential lawsuits. Malpractice insurance covers legal fees, court costs, and damages awarded to the plaintiff in a lawsuit. The amount of coverage depends on the policy's limits, which can range from hundreds of thousands to millions of dollars.

For example, suppose a patient sues a medical clinic for misdiagnosis, claiming that the doctor failed to diagnose their cancer in a timely manner, resulting in the cancer progressing to a more advanced stage. The medical clinic's malpractice insurance would pay for the legal fees and damages awarded to the plaintiff if they lose the case.

Similarly, if a patient sues a medical clinic for surgical errors resulting in permanent injury, the medical clinic's malpractice insurance would cover the costs of the lawsuit, including legal fees and any settlement or damages awarded to the plaintiff.

In summary, medical clinics can be sued for various reasons, including misdiagnosis, medication errors, surgical errors, failure to obtain informed consent, and negligence. Malpractice insurance protects medical clinics from potential lawsuits and helps pay for legal fees, court costs, and damages awarded to the plaintiff in a lawsuit.

Commercial Insurance And Business Industry Classification

• SIC CODE: 8011 Offices and Clinics Of Doctors Of Medicine
• NAICS CODE: 621493 Freestanding Ambulatory Surgical and Emergency Centers, 621111 Offices of Physicians (except Mental Health Specialists)
• Suggested Workers Compensation Code(s): 8832 Physician & Clerical, 9040 Hospital - All Other Employees

Description for 8011: Offices and Clinics Of Doctors Of Medicine

Division D: Manufacturing | Major Group 39: Miscellaneous Manufacturing Industries | Industry Group 399: Miscellaneous Manufacturing Industries

8011 Offices and Clinics Of Doctors Of Medicine: Establishments of licensed practitioners having the degree of M.D. and engaged in the practice of general or specialized medicine and surgery. Establishments operating as clinics of physicians are included in this industry. Osteopathic physicians are classified in Industry 8031.

• Ambulatory surgical centers
• Anesthesiologists, offices of
• Clinics of physicians (M.D.)
• Dermatologists, offices of
• Freestanding emergency medical (M.D.) centers
• Gynecologists, offices of
• Neurologists, offices of
• Obstetricians, offices of
• Oculists, offices of
• Ophthalmologists, offices of
• Orthopedic physicians, offices of
• Pathologists (M.D.), offices of
• Pediatricians, offices of
• Physicians (M.D.), including specialists: offices and clinics of
• Plastic surgeons, offices of
• Primary care medical (M.D.) clinics
• Psychiatrists, offices of
• Psychoanalysts, offices of
• Radiologists, offices of
• Surgeons (M.D.), offices of
• Urologists, offices of

Medical Clinic Insurance - The Bottom Line

For the safety of you patients and your employees - having the right medical clinic insurance coverage is important. To learn what types of options are available to your facility, how much coverage you should invest in and the cost - speak to a reputable commercial insurance broker.

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
• Audiology
• Blood Banks
• Dental Lab
• Dental Office
• Diagnostic Imaging Centers
• Health Maintenance Organizations
• Healthcare Facilities
• Home Medical Equipment Dealers
• Hospitals
• Hypnosis
• Malpractice
• Marriage & Family Therapy
• Medical Clinics
• Medical Laboratories
• Medical Marijuana Dispensary
• Medical Practice
• Medical, Surgical & Hospital Supply Store
• Mental Health Counseling
• Nurse
• Nurse Registry
• Occupational Therapy
• Ophthalmologist
• Optician
• Optometrist
• Osteopathic Physicians
• Otolaryngologists
• Physicians Office
• Plastic Surgeons
• Podiatrists
• Prosthetists
• Psychology
• Psychiatrists
• Skilled Nursing Facilities
• Speech Therapy
• Substance Abuse Counseling
• Surgeons
• Telemedicine Business Insurance
• Veterinarian
• Specialty Medical Centers And Clinics
• Specialty Medical Malpractice

The medical industry is a crucial sector that plays a vital role in ensuring the health and well-being of individuals. It is a complex and highly regulated industry that requires specialized knowledge and expertise. As a result, the medical industry is exposed to a variety of risks, including legal and financial liabilities.

One of the main reasons why the medical industry needs commercial insurance is to protect against medical malpractice. Medical malpractice occurs when a healthcare provider deviates from the standard of care and causes harm to a patient. It can lead to costly lawsuits and significant financial losses for the healthcare provider. Business insurance helps to cover these costs and protect the financial stability of the medical facility.

Another reason the medical industry needs business insurance is to cover the cost of regulatory fines and penalties. The medical industry is subject to strict regulations and any violations can result in significant fines and penalties. Business insurance helps to cover these costs and protect the financial stability of the medical practice or facility.

In addition, the medical industry is vulnerable to data breaches and cyber attacks. These incidents can result in significant financial losses and reputational damage for the medical facility. Business insurance helps to cover the cost of recovering from a data breach or cyber attack and helps to protect the reputation of the medical facility or practice.

Overall, business malpractice insurance is an essential component of the medical industry. It helps to protect against the financial and reputational risks associated with the medical industry and helps to ensure the financial stability and success of medical practices and facilities.

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.