Acupuncture Business Owners, Insurance Is A Must-Have Item For Your Business

There is an unprecedented growth in the number of people who seek alternative treatment for their medical conditions. In the acupuncture industry, the demands for acupuncture services have increased by 40%. The US market size for acupuncture is 38.97B (2019 data). Indeed, trust in alternative treatments fuels this growth.

So, what does this number mean for acupuncturists? For one, it’s a positive outlook as this opens an opportunity to grow an acupuncture business. On the flip side, one can expect that acupuncturists will face issues concerning their service, particularly complaints about malpractice. Thus, for acupuncture business owners, insurance is a must-have item.

What are the benefits when acupuncture business owners get insurance? Here are some:

Protection from malpractice complaints – as more and more patients seek the service of acupuncturists, the more likely they receive a malpractice complaint. Whether or not the complaint has bases, malpractice insurance should take care of the issue, including the financial requirements due to legal disputes.

Professional liability protection – for relatively new acupuncture business owners, insurance may not be part of their priority list, given that they get preoccupied with other things of equal importance in running this business. But they should. Acupuncture insurance protects their professional reputations. Professional liability insurance, such as the one offered by the American Acupuncture Council, provides comprehensive coverage to spare their professional reputation from damages brought about by liability complaints.

Premises liability protection – along with malpractice insurance and professional liability insurance, one can include premises liability protection. It is commonly called slip or trip and fall insurance. This endorsement covers the potential risks of a guest on the premises alleging damage to their personal property or injury in the clinic area, such as slipping from a wet spot on the floor, tripping on a frayed rug, or fainting and falling off the treatment table.

Online looking for a reputable acupuncture business insurance provider? Contact the American Acupuncture Council today at (800) 838-0383.