Professional Liability Insurance for MediSpa's, Weight Loss and ColonHydrotherapy

Owning or working in a Medical Spa:  What is the liability protection?

When you are providing services in your  own clinic, or providing services (like some of those referenced above) as an independent contractor, it is important to consider the vicarious liability that I brought to the entity for the services that you are providing.

This information about medical entities was provided for us by Doug Free, J.D., Partner in the firm Kessenick, Gamma and Free: If you practice without an entity you face potential vicarious liability exposure which could reach your personal assets.

Form the correct entity and then purchase the correct medical malpractice insurance policy to protect the Medical Spa

Using one or more appropriate practice entities can serve to protect both your medical practice assets (if you utilize a multi-entity structure) and your personal assets.

Medispa technicians, Aestheticians, Laser Services, Colon Hydrotherapy can all be protected separately:

Med spa products and services are constantly evolving and seemingly expanding, from waxing and facials to medical procedures including medical weight loss, and injectable and laser hair removal.   In fact, med spas, alternative therapies, ancillary health care providers and family clinics are the fastest growing areas of health care.   In order to find the proper insurance, it is important to work with an agent who represents standard medical malpractice insurance companies as well as specialized programs.   

Medical Entities and Liability Insurance Exposure:


California Physicians practice via one of 3 structures:

  •   Sole Proprietorship
  • Partnership
  • Professional Corporation

 In his presentation to physicians in San Francisco at an asset protection seminar recently, Doug went on to say that physicians should work to form the right entity and fund that entity with insurance.  Practicing as a Sole Proprietor means that the physician is practicing without an entity.  Income and losses from the practice are combined with physicians personal tax return.  Practice Liabilities can potentially reach the physician’s personal assets.  If practicing alone, forming a sole proprietorship makes sense;  if practicing with anyone else, incorporating is highly recommended based on liability considerations.

Partnerships:  In a partnership 2 or more physicians agree to share profits and losses from their practice.   Profit/loss division does not have   to be equal and may be structured unequally per the partnership agreement.  For liability purposes, partners share equally in the liability brought against the entity.

Medical Corporation, A professional Corporation will not protect a physician’s personal assets in terms of liability directly arising from the physician’s own acts or omissions.  But, with a properly operated corporation, PC should protect against personal exposure for the acts or omissions of others.

And, with a properly placed MediSpa Liability Insurance Company, the owner is shielded quite well behind their own insurance policy and that of the entity’s PC liability policy.

 The Doctors’ Insurance Agency works to protect owners, healthcare practitioners in many states and in  many medical specialties. If you are serving as a medical director or providing services at a medical spa; you should not only consider the type of business/entity, you should make sure that the entity is named in a Professional Liability Insurance Policy for MediSpa’s.

 In addition to the professional liability insurance, our agency works to place general liability insurance; (General Liability Insurance for Medispa’s includes the important non-medical malpractice related claims that can present to the entity; from a person who works in the office slipping and falling to an injury, to a vendor or even patient who may suffer some form of bodily injury due to a slip in the office.

 Professional Liability Insurance Programs - Medi-Spa, Anti-Aging, Aesthetics - all procedures covered, "A" rated markets, quick "2-page short-form" application to qualify; please send in any questions about the best type of policy for your MediSpa.

 

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