Insurance for Ambulatory Health Care Services
We shop for you! Compare rates from +10 top carriers
What Insurance Do Ambulatory Health Care Services Need?
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused sobody financial loss. PLI covers your legal defense costs, damages and settlements.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Frequently Asked Questions
Why do Ambulatory Services need insurance?
Businesses that work in this industry aim to provide services such as health screening, physical fitness evaluation, hearing testing, pacemaker monitoring, and smoking cessation programs. This industry also includes businesses such as eye banks, placenta banks, blood donor stations, and sperm banks.
Insurance protects your business and even personal assets when faced with a lawsuit, medical responsibility, and other incidents that would cost you large amounts quickly. Even if you think your business has enough cash to cover these issues, there is always a potential incident that would require even more. Insurance provides much higher coverage where all you pay is the monthly fee to get insured.
What risks do Ambulatory Services face?
Your ambulatory service business faces a unique set of risks. Below are some examples:
- Instead of getting cured your patient claims that the condition got a lot worse after the treatment. The patient then files a claim against your business.
- Your ambulance is about to send a patient in the hospital when it got involved in an accident. Upon investigation, it is proven that your business is at fault. You are then responsible for property damage, personal injury, medical expenses that have happened during the accident.
- A patient claims that your treatment did not do anything that could alleviate the situation he is having. He, then concludes that the services you provided are subpar; thus, files a claim against your professional service.
How much does Ambulatory Health Care Service insurance cost?
Since every business is unique, there is no fixed cost of insurance policies for your business. Without taking all the criteria to define your business insurance into account, below are the average annual costs of insurance policies:
- General Liability insurance costs $500 in annual premiums.
- Workers' Compensation costs $1200 in annual premiums.
- Commercial Auto insurance costs $600 in annual premiums.
What do Ambulatory Health Care Services do?
This industry comprises establishments primarily engaged in providing ambulatory health care services (except medical offices; outpatient care centers; medical and diagnostic laboratories; home health care providers; and ambulances). Some of these may be mobile health care units, engaged in the independent practice of medicine or dentistry, blood banks, medical diagnostics and laboratories, among other services. This could also include the transport of patients in need of immediate standard medical care to emergency medical facilities.