Surgery Center Insurance
Surgery Center Liability Insurance
A stand alone surgery center attracts attention from patients, payers, physicians and other facilities. A surgery center needs the same insurance package as a hospital. Facility Professional Liability is needed so there is a separate limit to respond on behalf of the claims inevitably including the center (your physician Medical Malpractice Insurance is not sufficient on its own). Additionally it is important to contemplate the risk of administrative audits, errors or loss of records. The two insurance policies that are used to defend against these events from taking your resources, time and energy are: Mediguard and CyberGuard. These are policies that provide one million in defense against the risk of a medicare or private billing investigation. Another one million which restores and pays the fines for lost data.
Finally, with the healthcare mergers and acquisitions that are taking the industry by a storm, Directors and Officers Insurance is in place to defend against claims of business, asset or contract mismanagement or waste. A Directors and Officers policy can help you defend against claims made during or after the sales transaction, upholding your integrity and safeguarding your assets. Finally, an Employment Practices Liability policy defends the ownership group against allegations of wrongful termination or discrimination, sexual harassment or wage and hourly disputes. If a physician feels locked out of your center, these policies can protect the directors and officers.
Surgery Centers, of course need to present their certificates, licenses; accreditations, bylaws and transfer agreements. From there we will take the representation of your practice profile, loss experience and number of procedures and we at The Doctors Insurance Agency will shop the nation's best carriers to work for you.
When a Surgery Center Liability Insurance is necessary?
When a surgeon or a surgical group has a surgery suite or surgical center that is used only by them; there is no additional exposure and the surgery suite/center is covered under the solo or group policy of the physician(s). The surgery suite/center would be part of the office premises. If it is at a second location, you would want to be sure that the location is insured as a secondary address. Once; however, the surgical suite/center is opened to outside physicians; you have increased your potential liability. Now, when that other physician has a claim, the claimant could potentially also name the surgical suite/center in which the surgery was performed. To the patient, this is another entity on which to lay a claim. Without a separate set of limits, as provided by the Surgery Center Liability Insurance Policy, your personal physician’s limits of liability could be depleted by claims that were not made against you but against your surgical suite/center. Therefore, The Doctors’ Company requires a separate Surgery Center policy when a surgical suite/center is being used by outside physicians.
Surgery Center Liability Insurance Coverage Provided:
The Surgery Center Liability Insurance Policy provides a separate set of limits for the center and is written in the name of the Surgery Center, which includes all agents, employees, proprietors, owners, directors, officers or partners while acting within the scope of their surgery center duties. It also provides coverage for Additional Named Insured’s and Additional Insured’s that the Surgery Center employs. Our agency is aligned with a national specialty insurance company to help us obtain quotes from every market in the country available for this type of exposure: we at The Doctors Insurance Agency work with NSU (National Specialty Underwriters) They specializes in the Medical Malpractice Professional Liability Insurance, General Liability, Umbrella/Excess, and Property insurance needs of the healthcare industry. They help us provide top quality markets, regional expertise, comprehensive coverage, fast indications and competitive rates. NSU Healthcare has made a specialty of hospitals, surgery centers, medical facilities, large physician groups and non-standard physicians.
For more information regarding medical malpractice insurance for Surgery Centers, please contact us or fill out the form. We look forward to setting up your Surgery Center Malpractice Insurance coverage.