Healthcare is evolving – has your policy?
As a healthcare professional, you understand the importance of value-based care, and how it can lead to better health outcomes for patients. As a healthcare practice, you also understand the importance of having a solid financial foundation to support the continuity of care. That’s where our value-based care insurance comes in to help.
Reduce your practice’s total cost of risk
Our Value-based care insurance policies provide coverage for a wide range of risks, including professional liability, general liability, and property damage. We also offer coverage for cyber risks, employee benefits liability, and more. All of our policies are tailored to meet the specific needs of your value-based care practice which may include:
- Accountable Care Organizations (ACOs)
- Community Hospitals
- Integrated Health Systems
- Primary Care Clinics
- Surgery Centers
- Telemedicine Companies
Let’s improve your sustainability
Your healthcare practice face numerous risks that could significantly impact your operations and bottom line. From regulatory changes to data breaches and medical malpractice lawsuits, these risks can be complex and difficult to navigate without the right insurance coverage. By partnering with a trusted insurance provider, value-based healthcare insurance can protect against these risks and mitigate the financial impact of unforeseen events.
Read on to discover some of the top risks faced by businesses like yours, and how the right insurance coverage can help ensure continued success:
- Professional liability:You may face claims of medical malpractice or negligence. Professional liability insurance can help protect against such claims by covering the cost of legal defense and any damages that may be awarded.
- Cybersecurity risks: With the increasing use of electronic health records (EHRs) and other digital technologies, value-based healthcare businesses may be at risk of data breaches and cyber attacks. Cyber insurance can help protect against these risks by covering the cost of recovery and any damages that may be incurred as a result of a cyber incident.
- Compliance risks: Healthcare businesses must comply with a wide range of laws and regulations, such as HIPAA and the Affordable Care Act. Non-compliance can lead to fines and penalties. Compliance insurance can help protect against these risks by covering the cost of legal defense and any damages that may be incurred as a result of non-compliance.
- Financial losses: Value-based healthcare businesses may face financial losses as a result of unexpected events such as natural disasters, equipment failures, or loss of revenue due to a pandemic. Business interruption insurance can help protect against these risks by covering the loss of income and extra expenses incurred as a result of an unexpected event.
- Employment practices liability: Even with the best intentions, businesses may face claims related to discrimination, wrongful termination, and other employment practices. Employment practices liability insurance can help protect against these risks by covering the cost of legal defense and any damages that may be awarded.
It’s important to note that these are just a few examples of the risks that value-based healthcare businesses may face and that the specific risks will vary depending on the type of business. It’s essential for businesses to assess their specific risks with a knowledgeable advisor at ZRM Brokerage and purchase insurance accordingly.
