For many grappling with chronic illnesses, sudden injuries, aging challenges or hospice needs, home health care is an attractive alternative to inpatient or outpatient services at an institution. With the demand for this care growing, insurance for home health care providers is a must. Firms of any size in this industry face significant exposures to many types of potential losses.
Risks to home healthcare businesses come from a myriad of sources because of the great variation of services offered. Employees can injure themselves or clients through mistakes, accidents or negligence, and subsequent lawsuits, settlements and court-ordered compensation can be costly. General and professional liability policies offer protection from these scenarios. Auto policies protect exposure from motor vehicle accidents employee caregivers could experience traveling to or from a client’s home. Cyber liability insurance protects home health care businesses in the event of data loss or stolen patient information. Policies are available for the protection of directors’ and officers’ personal and business assets, as well as protection from the fallout of regulatory audits investigating fraud or abuse within the organization.
Litigation, audits and other legal and financial challenges are distractions that consume time, energy and resources. Insurance for home health care providers enables employers to keep the focus on what really matters: delivering excellent patient care.