When your facility gets your annual insurance premium, it’s a good reminder that you should go over the policies that you have and ensure that you have comprehensive home health care insurance that completely covers your risks. Yes, it takes time to review your coverage, but the few hours that you spend with an insurance representative will be minimal compared to the shock of realizing that you didn’t have protection that you assumed you did.
The home health care industry is growing, and as it does, your risks go up as you provide more services to your patients and employ more people to provide care. In addition, society as a whole is becoming more litigious. You can’t rely on the goodwill of people not to sue. Non-profits are not exempt from being named in a lawsuit, nor are volunteers. Just the defense of one lawsuit, even if your facility is not at fault, could cripple your facility to a point where it could not operate.
Your insurance specialist can help you understand your home health care insurance. Ask about exclusions and limitations of your current policies, so that you can determine what type of risk you face. Make sure to talk to your representative about your business so that you get complete advice. If you want to continue serving the community, it’s important to have an insurance portfolio that meets your needs.