Errors & Omissions (E&O) is coverage that protects your practice against claims that a professional service you provided caused your client/patient to suffer financial harm due to your mistakes (errors) or your failure to perform a service (omissions).
Defending your practice in a civil suit with certain damages awarded, E&O insurance can cover the cost, even if the legal action is groundless. For medical facilities, E&O is required by law in many areas.
Errors and omissions coverage applies if your practice/facility includes any of the following:
- Managed care-related activities
- Utilization review
- Expert witness
- Billing operations
- Credentialing
- Surgery center/laboratory
- Consulting
- Claims review
- Medical director services
- Not for profit
- Management services
- Employee leasing
- Independent physician associations
- Miscellaneous and/or other ancillary activities not normal to a medical practice
Benefit: Medical Billing
There's a good reason medical billing audits are hot topic for physicians and administrators of medical facilities. They haven't just become a very real target, but the potential impact on their business is enormous.
Virtually every healthcare facility has the exposure to medical billing that E&O products are designed to cover.
Are you covered? Click the link below to get a quote today!
Would you like more information on how your practice can benefit from E&O insurance? Call us today (805) 499-7300.