Why do ambulatory surgery centers need business insurance?
An ASC is similar to a hospital, but with fewer staff and resources. If a patient suffers a complication, or is released too early from care, the resulting legal costs could overwhelm your small practice. Business insurance provides financial protection against lawsuits, data breaches, and property damage. Some policies may be required by state laws or a commercial lease.
Find the right coverage
Insureon helps ambulatory surgery centers find insurance quotes that match their unique risks.
Get free expert advice and peace of mind knowing you have the right property and liability coverage for your small business.
What types of business insurance do ambulatory surgery centers need?
These insurance policies cover the most common risks faced by ASCs.
General liability insurance
A general liability policy covers basic third-party risks, such as a patient who files a lawsuit after slipping on a wet floor at your surgery center and breaking an arm.
- Slip-and-fall injuries
- Patient property damage
- Libel and slander lawsuits
Business owner’s policy
A business owner's policy, or BOP, is a cost-effective way for surgical centers to buy general liability coverage and commercial property insurance together.
- Slip-and-fall accidents
- Damaged patient property
- Damaged business property
Workers’ compensation insurance
Most states require workers' comp for ambulatory surgery centers that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Lawsuits from employee injuries
Professional liability insurance
This policy, also known as malpractice insurance for surgeons, covers legal expenses if a patient files a lawsuit against an ASC for a surgical error or poor advice.
- Failure to deliver promised services
- Malpractice lawsuits
- Procedural mistakes or oversights
Commercial auto insurance
Commercial auto insurance is typically required for business-owned vehicles. It helps cover the costs of accidents involving a surgery center's vehicle.
- Physical damage and collision coverage
- Injuries caused to another person
- Repairs due to vandalism or weather
Cyber insurance
Also called data breach insurance, this policy helps surgery centers survive cyberattacks and data breaches by paying for data recovery expenses and other associated costs.
- Data breach notification expenses
- Fraud monitoring costs
- Public relations
How much does business insurance cost for healthcare facilities?
An ambulatory surgery center with only a few employees can expect to pay less for insurance than a larger ASC.
Factors that affect premiums include:
- Procedures offered, such as cataract surgery or endoscopy
- Number of surgeons, anesthesiologists, and other staff members you employ
- Where your business is located
- Surgical equipment and property
- Business income
- Types of insurance purchased
- Policy limits and deductibles
How do I get ambulatory surgery center business insurance?
It's easy to get business insurance for your ambulatory surgery center if you have your company information on hand. Our application will ask for basic facts about your practice, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application
- Compare insurance quotes and choose policies
- Pay for your policy and download a certificate
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance coverage for your ASC, whether you work independently or hire employees.
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