Home health business owners face unique risks. You may take payments from Medicare and Medicaid and receive audits. Your employees may be driving clients to appointments. Finally, there are additional injury risks if a caregiver is assisting a patient with limited mobility. In order to ensure that your business continues to run smoothly, you’ll want to consider a policy designed specifically for your industry. When looking for insurance for home health care providers consider a bundled package that includes comprehensive coverage.
To understand what that policy should include, consider the unique challenges you face. Unlike many businesses, your liability is drastically increased by the nature of services provided. Therefore, you’ll want to ensure that you have malpractice or professional liability coverage. In addition, there are a number of risks to the staff you employ, especially if they are involved in moving patients. Including workman’s compensation in your policy helps protect your bottom line if a caregiver is injured on the job. If you provide transportation assistance or allow employees to drive clients anywhere, you will also need non-owned and hired auto insurance to cover any accidents that could occur. Finally, if you receive payment from Medicare or Medicaid, your organization could be audited regularly and any issues found could result in fines and penalties. Complete insurance for home healthcare providers should therefore include regulatory audit coverage. By considering these factors you can select a policy tailored to the risks you are exposed to as a home health company.