Just having a HPSO liability insurance policy is not enough. There are a few key aspects of your plan that you need to understand.
Some terms are important for understanding the details of your policy. These terms include:
- limits or caps
Understanding the stipulations of these terms can help you evaluate the quality of a policy.
Depending upon the provider you choose, there may be additional offerings outside of those associated with your plan. For example, some providers will offer consulting services or will provide educational materials on new laws, policies and provisions related to your insurance or the health field. These offerings can add great benefit to your policy.
It is up to you to stay completely knowledgeable about your policy. Make sure that you understand what each benefit offers, as well as any restrictions on or requirements to receive those benefits. Some providers will alert you to any changes to a policy, though giving notice is not always required. Therefore, it can be beneficial to review your policy at least twice a year to keep yourself familiar with the current terms of your agreement.
Keeping these things in mind can help you in selecting, implementing and maintaining the best possible HPSO liability insurance for your health care facility.