Professional Liability (E&O) Insurance for Medical Billing
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The healthcare industry has always been a unique niche in regards to the commercial insurance industry because of the exposures involved and strict regulations by the State of Florida and the Department of Children and Families (DCF).
Even more unique of a niche in modern day is specifically the behavioral healthcare industry. Of the over two-thousand treatment centers and other substance abuse and mental healthcare facilities, the majority of privately owned, for-profit corporations meaning that medical billing of private insurance policies and carriers are the number one source of revenue.
Medical billing services are defined as the billing of medical claims to insurance carriers/providers, Medicare, Medicaid or other similar government healthcare reimbursement sources. This includes coding of medical bills, auditing of medical claims, records storage and transcription of medical documents or records.
An E&O policy through PGI is the best way to cover mistakes, over and/or under billing, second and/or third part fraudulent billing and other forms of incorrect billing resulting in loss of revenue to the facility.
Give us a call to discuss your medical billing professional liability E&O insurance needs. We also offer all other insurance coverages that medical billers might need such as general liability, workers’ compensation, business packages, and property insurance.
Written by:
John D. Dugan, Insurance Consultant- Behavioral Healthcare