As an alternative treatment, acupuncturists stand at a higher risk of exposure to malpractice complaints compared to other types of businesses. Such complaints can come from any of the clients. Thus, a protection that shields an acupuncture business from these complaints should be in place.
Acupuncture business insurance is the answer for every acupuncture clinic’s protection needs – regardless of business size. If you are running one, it should be there in your to-do list. It provides the protection you need to ensure your business (and your professional reputation) is okay should a client file a complaint against you, claiming malpractice.
Now, the question becomes: how to find a reputable/trusted acupuncture business insurance provider. While there’s no definitive set of guidelines, you should consider the following criteria:
Experience. One of the indicators of how reputable an insurance provider is is the number of years they have been providing the acupuncture service. A company with decades of experience (like the American Acupuncture Council) means it has weathered the market’s ever-changing climate; it thrives even when the market is unfavorable. The length of years in the industry has polished the processes of experienced insurers for better services.
Insurance coverage. Of course, the insurance package inclusion is another important factor when deciding which acupuncture business insurance to choose. For acupuncturists, malpractice insurance, professional liability insurance, premises liability, worker’s compensation, and business owner policy are the top coverage areas to consider. See to it that your prospective insurance provider offers these coverage options.
Financial stability. There are several ways to assess whether or not a company is financially stable. For instance, you can look into their assets and ask for a copy of their annual report or financial summary. You can also check on complaints or problems through your state insurance department. And you should also find out how many insurance claims they disbursed money for in one business calendar year.
Reviews. Lastly, do not forget the power of word of mouth. Read what their previous and current clients say about the company. If negative reviews far outweigh the positive ones, you have a compelling reason to cross out that particular insurance provider from your list of prospects.
Are you looking for a reputable acupuncture business insurance provider? Look no further than the American Acupuncture Council. Call us at (800) 838-0383 for inquiries.