Ambulatory Surgical Center Insurance
Ambulatory surgical centers (ASCs) are an important part of the healthcare system, providing a convenient and cost-effective option for patients who need surgery. ASCs face unique risks, which is why it’s important to have comprehensive insurance coverage. Ambulatory Surgical Center insurance policies typically cover things like medical malpractice, property damage, and equipment failures. By carefully evaluating their needs and selecting the right insurance policy, ASCs can ensure that they are prepared for anything.
The ambulatory surgical centers are based within communities and operated by physicians. Some are affiliated with hospitals in case of a complication.
ASC’s track records have been successfully making them an alternative form of medical treatment. Some procedures include hip replacements, ophthalmology, urology, etc.
There are significant risks in the operations of an ambulatory surgical center. Ambulatory surgical center insurance protects your facility and your employees.
Cost of Ambulatory Surgical Center Insurance
The cost of general liability insurance for a small ambulatory surgical center facility depends on the location, size, the number of employees, equipment used, payroll, and experience.
Types of Ambulatory Surgical Center Insurance
As the name of operations of an ASCs, risks cannot be eliminated; however, you can mitigate them. As the facility owner, you need to have peace of mind by having these coverages.
Medical Malpractice Insurance
This type of insurance is necessary for any medical practitioner. During treatment, surgery procedures, and offering counsel, you can be accused of negligence, injury, misdiagnosis, errors, and omissions, etc. If a patient sues you, the policy covers legal costs and settlement fees.
Commercial General Liability
This commercial liability insurance offers indemnity and protects against third-party injuries and property damage caused by negligence at your facility. It covers damage to property and slips and falls.
Workers Compensation
This insurance covers your employees regardless of whether they work part-time or full-time. It pays for medical care, lost wages in case they are involved in a work-related injury.
Business Interruption
This policy covers your lost income in case operations at the facility are interrupted.
Cyber Liability Coverage
The policy covers your business for lost income caused by a data breach. It pays for the repair or replacement of damaged software, stolen or vandalized computers.
Employee Practices Liability Insurance- EPLI
This type of insurance protects your facility against unlawful employment practices such as unfair promotion, wrongful termination, sexual harassment, racial bias, etc.
Commercial Umbrella
This insurance policy provides additional financial coverage for your facility if you are faced with a claim that exceeds your policy limitations.
It is advisable to get umbrella insurance if your facility faces multiple risks.