Nursing is arguably the most in-demand field in the healthcare industry. The responsibilities of nurses span from high-quality patient care to keeping up with technological advancement.
However, there is always a risk when delivering services like intermediate care, such as injury, medication error, and unprofessional conduct. To that end, it would be best to cover insurance whether you run a nursing business or offer the services.
Here are different types of nursing insurance explained in detail.
General Liability Insurance
This insurance coverage is key for nurses as it protects you from claims of property damage while rendering your services, personal injury, and third-party bodily injury. It also covers advertisement injury if you run a nursing business.
The advertisement injury is a claim by another business if your branding or logo is similar to theirs. Note that this insurance coverage is essential because you can never be too careful.
You can accidentally damage property when working as a nurse in a nursing home or doctor’s office. And if operating a nursing business, ensuring that your property is safe doesn’t guarantee accident-proof.
Medical Malpractice Insurance
Medical malpractice insurance is another crucial insurance cover you should have as a nursing business. Human is to error, and your employee might commit some at one point that could harm the patient.
Such a patient can sue your clinic, and the lawsuit and settlement can be costly.
This insurance covers negligence, malpractice, and inaccurate advice from the nurses. It’s essential to take it even if you hire trained and qualified nurses because various external factors can lead to such errors.
Nurses’ Professional Liability Insurance
This is an individual cover that gives you additional protection from professional liability. It would be best to take it even if your employer has medical malpractice insurance. The main reason is the focus on insurance coverage, naming you as the insured entity.
This is advantageous since it will work in your interest, unlike medical malpractice insurance, which works in your employer’s interest. In addition, it covers direct complaints should the aggrieved patient sue you individually.
Furthermore, it includes assault, first aid expenses, and libel coverage. It also covers license protection on top of Health Insurance Portability and Accountability Act violations.
Workers’Compensation
Worker’s compensation is an insurance cover for nursing businesses that provides medical and financial benefits to nurses in the unfortunate event of illness, work-related injury, or death. This coverage extends to the dependants too.
Duties such as lifting patients when offering intermediate care put the professional at risk of developing back injuries. In addition, the nurse can contract contagious infections, which calls for this insurance on top of the standard safety measures.
Also known as worker comp, this insurance pays for lost income, medical expenses, and death benefits.
Nursing is a demanding line of work, which can take a toll on professionals. Therefore, it would be best to get insurance coverage whether you are operating a nursing facility or offering the services.
Note that your employer may insure you, but you still need individual coverage. And while choosing an insurance agency, ensure that you select a reputable one with a proven track record in compensating claims.