Prosthetists Insurance

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Prosthetists Insurance Policy Information

Prosthetists Insurance

Prosthetists Insurance. Prosthetists are medical professionals who have the rewarding and exciting job of helping patients who have lost (portions of) their upper and lower extremities make their new prostheses, fitted onto their residual limbs, serve them well.

Prosthetists make replacements for amputated, deformed, or missing body parts. Prosthetists receive a prescription from the client's physician and then work with a client to assemble and fit a prosthetic based on the prescription and the client's comfort.

Component parts for prostheses, such as breast, foot, hip, knee, or wrist, are ordered from manufacturers. Sockets or other connectors that attach the part to the body are customized through the use of casting materials to fit the client's body.

These may be plastic, metal, or a combination of materials. The prosthetist works with the client to make adjustments and corrections as needed throughout the life of the device. Prosthetics can be very basic or contain very sophisticated computer-aided electronics.

Over the course of their activities, prosthetists craft sockets that form a bridge between the prosthesis and residual limb, adjusting prostheses to make them fit better, and helping patients get used to performing daily activities with their new prostheses.

Prosthetists may work in hospitals or specialized clinics, but they can also run their own practices.

Regardless of the setting in which a prosthetist performs their job, these medical professionals can be exposed to a number of perils - all of which can have costly consequences as well as potentially damaging their professional reputation.

By carrying comprehensive insurance, a prosthetist can protect themselves at least from significant economic harm. What types of prosthetists insurance coverage are needed, though? This brief guide offers some answers.

Prosthetists insurance protects healthcare professionals that make and fit artificial limbs - from lawsuits with rates as low as $67/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked prosthetists insurance questions:


How Much Does Prosthetists Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small prosthetists practices ranges from $67 to $89 per month based on location, size, revenue, claims history and more.


Why Do Prosthetists Need Insurance?

Prosthetic Leg

Prosthetists, whether they work as employees of a hospital or other medical facility or run their own clinics, will require professional insurance to protect them from the perils they could face over the course of their work.

The kinds of coverage a prosthetist needs will depend greatly on whether they run their own business or work for another institution, however.

Prosthetists employed by hospitals or clinics primarily need to consider a scenario in which a patient alleges that the prosthetist caused them harm. This may be due to negligent care or because the working environment caused them to become injured, for example.

Prosthetists running their own clinics further have to consider risks such as acts of nature (including earthquakes, wildfires, and hurricanes), vandalism, and theft.

Because the risks faced vary greatly, it is crucial for them to consider their prosthetists insurance needs in-depth.


What Type Of Insurance Do Prosthetists Need?

Prosthetists will have broad professional experience with the fact that one size never fits all - and insurance coverage is no different than prostheses in this regard.

An insurance broker who is deeply familiar with the risks medical professionals face is best suited to design a plan tailored to your individual needs, taking into account all the risks you are exposed to.

With that in mind, some of the more common types of prosthetists insurance to consider are:

  • Orthotist Prosthetist Medical Malpractice: This is the main type of coverage that every prosthetist will need to carry, regardless of their workplace. It serves to protect your financial interest in the case of malpractice lawsuits alleging, among other scenarios, negligent care and HIPAA violations. Should you be sued, malpractice insurance covers your legal defense costs as well as settlement costs, with upper limits varying with each individual policy.
  • General Liability: Prosthetists running solo practices will also need general liability coverage for commonplace scenarios in which third parties sustain bodily injury or property damage - like tripping on poorly maintained driveways or a fire that started in your practice spreading to a neighboring property. General liability insurance also covers scenarios in which unfortunate marketing led to false impressions.
  • Commercial Property:This kind of prosthetists insurance coverage is, again, for prosthetists who run their own practices. It would cover damage and loss to physical assets, including the building from which you operate, after perils such as theft, vandalism, or acts of nature.
  • Hands/Disability Insurance: Prosthetists depend on their hands to carry out their profession. Policies specifically designed to insure the hands of professionals who cannot carry out their work in the event they lose use of their hands exists. A more general disability insurance may fulfill a similar role, however.

Bear in mind that these examples of types of prosthetists insurance the may be needed do not universally apply. The sole type of insurance all prosthetists will require is medical malpractice insurance.

For further information, you are advised to consult a business insurance broker who will be able to offer advice specific to your circumstances.


Prosthetists' Risks & Exposures

Prosthetist At Work

Premises liability exposures are moderate as clients may visit the premises for casts and fittings. The client may have mobility limitations which will require the technician to protect the client from injuries that may occur due to falling during fittings and initial use of the device.

All areas accessible to clients must be well maintained with floor covering in good condition. The number of exits must be sufficient and well marked, with backup lighting in case of power failure.

Steps should have handrails. Parking lots should be maintained free of ice and show. Improper touching and other privacy issues are concerns due to casting and fitting procedures. Off-premises liability exposures arise if technicians travel to hospitals, other institutions, or clients' homes.

Products liability exposures are significant as prostheses are used to replace clients' body parts. The exposure increases if the organization fails to conduct thorough background checks to verify employees' credentials, education, and licensing when required by the state.

When a prosthetic device fails, clients can fall and injure themselves or drop what they were lifting, causing injury to another person or property. As patients may have allergic reactions to some of the materials used in the prosthesis, the referring physician should be advised of all materials used.

Improper fitting or adverse reactions to materials can lead to sores, infections and subsequent physical problems. Quality control with regular follow-up and documentation should be in place. Children's prosthetics present special concerns because the devices must be altered and adjusted frequently as the child grows.

Environmental impairment exposure is significant due to the potential for contaminating air, ground, or water by improperly disposing of medical waste or waste from materials used in making prostheses. Disposal must be documented and meet all FDA and EPA standards.

Workers compensation exposures are high. Back injuries can occur as the mobility limitations of many clients require assistance during fittings and while learning to use the prosthetic devices. The technician may be injured while lifting clients, being accidentally struck by a patient, or by overexertion of the arms and back muscles. Slipping and tripping hazards can be prevented with excellent housekeeping.

Common injuries include contact dermatitis, cuts, foreign objects in the eye, and hearing impairment from noise. Ergonomically designed workstations can prevent repetitive motion injury.

Assembly of devices presents some hazard due to working with tools and component parts. If workers come into contact with bodily fluids, diseases may be transferred from the client to the worker.

Property exposures are from the specialized equipment used to make prostheses. Ignition sources include electrical wiring, heating, and cooling equipment, and overheating of production machinery. Electrical wiring must be grounded and meet all current codes. The materials are usually low hazard from a fire standpoint and supplies on hand are minimal since orders are customized.

The casting material and repair devices usually do not contribute to the fire load. All equipment is external so sterile components are not major issues. If the prosthetist is involved with robotics or electronic controlled devices, the susceptibility to damage by fire, smoke or water increases dramatically along with the value of the inventory. Coverage for the property of others is important since the devices may be left with the prosthetist for repair or further customizing.

Business income and extra expense depend on the types of prosthetics being provided and availability of the items.

Equipment breakdown exposure is due to the specialized equipment used in making prostheses. A breakdown could be costly due to the time to install replacement parts or the lack of appropriate backup facilities.

Crime exposures are primarily from employee dishonesty. Background checks should be conducted on all employees prior to hiring. Prosthetics can be very expensive. Because there are several individual clients and billings are normally sent to insurance companies or foundations, false billings and statements are possible. Ordering and billing must be handled by two different employees.

Inland marine exposures are from accounts receivable, bailees customers for work on existing prostheses, goods in transit to clients, and valuable papers and records for clients' specifications and suppliers' information.

All items belonging to clients must be properly labeled so they can be returned to their rightful owners. Records should be duplicated and stored in an off-site facility.

Commercial auto exposure may be limited to hired and non-owned for employees running errands. If the practice supplies vehicles for technicians to travel to off-premises locations, all drivers must have a valid driver's license with acceptable MVRs. Vehicles must be maintained and records of the maintenance kept at a central location.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 3842 Orthopedic, Prosthetic And Surgical Appliances And Supplies
  • NAICS CODE: 39113 Surgical Appliance and Supplies Manufacturing, 446199 All Other Health and Personal Care Stores
  • Suggested ISO General Liability Code(s): 15314, 57625, 66561
  • Suggested Workers Compensation Code(s): 8018, 4693

Description for 3842: Orthopedic, Prosthetic And Surgical Appliances And Supplies

Division D: Manufacturing | Major Group 38: Measuring, Analyzing, And Controlling Instruments; Photographic, Medical And Optical Goods; Watches And Clocks | Industry Group 384: Surgical, Medical, And Dental Instruments And Supplies

3842 Orthopedic, Prosthetic And Surgical Appliances And Supplies: Establishments primarily engaged in manufacturing orthopedic, prosthetic, and surgical appliances and supplies, arch supports and other foot appliances; fracture appliances, elastic hosiery, abdominal supporters, braces, and trusses; bandages; surgical gauze and dressings; sutures; adhesive tapes and medicated plasters; and personal safety appliances and equipment. Establishments primarily engaged in manufacturing surgical and medical instruments are classified in Industry 3841. Establishments primarily engaged in manufacturing orthopedic or prosthetic appliances and in the personal fitting to the individual prescription by a physician are classified in Retail Trade, Industry 5999.

  • Abdominal supporters, braces, and trusses
  • Absorbent cotton, sterilized
  • Adhesive tape and plasters, medicated or non-medicated
  • Applicators, cotton tipped
  • Atomizers, medical
  • Autoclaves, hospital and surgical
  • Bandages and dressings, surgical and orthopedic
  • Bandages: plastics, muslin, and plaster of paris
  • Belts: sanitary, surgical, and corrective
  • Braces, elastic
  • Braces, orthopedic
  • Bulletproof vests
  • Canes, orthopedic
  • Cervical collars
  • Clothing, fire resistant and protective
  • Colostomy appliances
  • Corn remover and bunion pads
  • Corsets, surgical
  • Cosmetic restorations
  • Cotton, absorbent: sterilized
  • Cotton, including cotton balls
  • Crutches and walkers
  • Drapes, surgical: cotton
  • Dressings, surgical
  • Ear stoppers
  • Elastic hosiery, orthopedic
  • Extension shoes, orthopedic
  • First aid, snake bite, and burn kits
  • Foot appliances, orthopedic
  • Fracture appliances, surgical
  • Gas masks
  • Gauze, surgical: not made in weaving mills
  • Grafts, artificial: for surgery-made of braided or mesh artificial fibers
  • Gynecological supplies and appliances
  • Hearing aids
  • Helmets, space
  • Hosiery, support
  • Hydrotherapy equipment
  • Implants, surgical
  • Infant incubators
  • Intrauterine devices
  • Iron lungs
  • Life preservers, except cork and inflatable
  • Ligatures, medical
  • Limbs, artificial
  • Linemen's safety belts
  • Models, anatomical
  • Noise protectors, personal
  • Orthopedic devices and materials
  • Pads, incontinent and bed
  • Personal safety appliances and equipment
  • Plugs, ear and nose
  • Prosthetic appliances and supplies
  • Radiation shielding aprons, gloves, and sheeting
  • Respirators
  • Respiratory protection equipment, personal
  • Restraints, patient
  • Safety appliances and equipment, personal
  • Safety gloves, all materials
  • Socks, stump
  • Space suits
  • Splints, pneumatic and wood
  • Sponges, surgical
  • Sterilizers, hospital and surgical
  • Stockinette, surgical
  • Stretchers
  • Suits, firefighting: asbestos
  • Supports: abdominal, ankle, arch, and kneecap
  • Surgical appliances and supplies, except medical instruments
  • Suspensories
  • Sutures
  • Swabs, sanitary cotton
  • Tongue depressors
  • Traction apparatus
  • Trusses: orthopedic and surgical
  • Welders'hoods
  • Wheel chairs
  • Whirlpool baths, hydrotherapy equipment

Prosthetists Insurance - The Bottom Line

To protect your business, employees and the people you make and fit libs for, having the right prosthetists insurance coverage is imperative. To see what exact types of business insurance you need, how much coverage you should invest in - and the cost - speak to a reputable commercial insurance broker.

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

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.


Medical And Dental 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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