Every business faces certain risks or exposures according to the industry it’s a part of. For nursing homes, or any organization working in the healthcare field, the concerns extend beyond property damage and employee injury. Working to provide care and life-impacting services can open the door to claims of malpractice or negligence.
The Liability Exposures
For those who work in a skilled nursing or assisted living facility, the professional advice found at https://www.caitlin-morgan.com recommends that a strong nursing agency insurance policy be in place. This is a form of malpractice insurance, otherwise known as professional liability insurance. Patients or their families may have concerns with the treatment or services that are received at the facility, and when things go wrong, claims of negligence, medical errors, or non-delivery of service may be filed. Though the claims are against the company, they can also name specific members of the care team, whether a doctor made the wrong diagnosis or a nurse administered the wrong medication.
The Cost of Exposures
The financial costs of addressing a claim can be devastating, no matter how successful your facility may be. Your legal team will need to be paid, but the court rulings may also be in favor of the patient and instruct a settlement or award amount to be paid. With the right insurance, your finances can be protected from the loss associated with a claim.