Acupuncture is a form of medicine that uses hair-thin needles in various points in the body to encourage its natural healing powers. Acupuncturists are trained and certified professionals that insert needles into the patient, in various pressure points, based on what the patient’s ailments are. It is their job to help the patient feel a relief from pain or other medical conditions, while encouraging their body to begin healing on its own. As an acupuncturist, you’ll not only be responsible for taking care of your patients, but also the business aspect of being an acupuncturist. There are risks involved, included a variety of liabilities, lawsuits from patients that claim they feel more pain after seeing you, or a number of business-related risks. Acupuncturist insurance will cover such risks and help you to secure your business assets.
General liability insurance is the most basic insurance policy for acupuncturists and their business. It covers a variety of risk exposures, including lawsuits after you have administered treatments, accidents that occur on the premises of your building, and lawsuits related to the services you provide. The following is a list of specific coverages under general liability.
- Products Liability – As part of general liability, products liability will cover the products you have used for treatment that have caused further pain or bodily injury to the patient. As an example, if you were aware of the patient’s sensitive skin or allergies to certain products, but gave them an ointment or cream with these ingredients that later turned into an allergic reaction, you could be responsible for the medical treatment or other damages.
- Premises Liability – Any type of accident that occurs on the premises of your acupuncturist business can in turn be your responsibility. This also includes the patient’s property being damaged on the premises, such as if their belongings are damaged due to a fire or flood that occurs on your premises.
- Completed Operations – General liability also includes completed operations, which is a claim made by the patient after you have given them treatment and they have left the premises. If a patient experienced more severe pain or side effects after receiving acupuncture, you could be sued for damages, which completed operations covers.
Another important acupuncturist insurance policy is professional liability insurance, also called errors and omissions. This is the acupuncturist’s version of malpractice insurance, as it covers claims made by the patient that your error in judgment during treatment caused them significant pain or suffering.
Acupuncturist Business Owners Insurance
Business owner’s insurance, also called a BOP, is a comprehensive package policy that combines different coverages you choose. The coverage types included in the BOP are according to what risks you feel your acupuncture business has. For example, you may want employee dishonesty coverage if someone in your staff steals, lies, or vandalizes your property, electronic data coverage or buildings and contents coverage in the case of a fire, flood, or natural disaster, or coverage for your business income and extra expenses while your building is being repaired and you’re unable to do business.
If you use a vehicle for business purposes, such as picking up and dropping off supplies for your acupuncture treatments, then you need business auto. A business auto policy will cover vehicle damages and bodily injury that resulted after a vehicle accident, as well as damage from vandalism or theft.
Most states in the US require worker’s compensation insurance for each and every employee at your acupuncture business. If you have other acupuncturists or staff, then they should be covered by worker’s comp. If an employee has a work-related injury or illness, such as an employee that slips and falls on the premises, they will be covered by worker’s comp. It also helps to prevent lawsuits by employees who receive medical payments as a result of the accident.
Acupuncturist insurance policies allow you to protect your business and financial assets, while continuing to help patients feel pain relief and heal their many ailments. With such an important job, you want to be protected on the business side so you can continue doing acupuncture without this added worry.