Archive for April, 2015

Physicians Billing Errors & Omissions

Posted on: April 24th, 2015 by Commercial Insurance No Comments

Now more than ever, we are seeing the Federal Government increasing scrutiny of physician practices and their billing practices. Medicare, Medicaid and Commercial Insurance companies have launched aggressive campaigns to enforce billing rules and regulations. The addition of increased and complicated billing regulations have left many physician groups spending more time on administration issues creating new liability challenges.

Informed physicians are greatly concerned with the volume of billing in their practices, the education of their employees, and the fines and penalties being levied. Recovery Audit Contractors (RAC’s) are targeting Physicians, Medical Groups and Hospitals and are paid a percentage of any provider overpayments they uncover. The stakes are high and the exposures are real. Do not expect to avoid an audit by having the billing handled by an outside billing party. The information starts and ends with each physician group.

With billing fines up to $11,000 per claim, the audit results for a medical group could be catastrophic. Protection for your practice and reputation are available and can include;

  • Prior Acts Coverage
  • Defense Costs including attorneys and consultants
  • Liability limits from $1,000,000 to $5,000,000
  • Substantial cost reduction for medical groups with 10 or more physicians

For more information on Billing Errors & Omissions, Call Us.

You have questions, We have the answers.

A recent story about Airbnb…

Posted on: April 13th, 2015 by Personal Insurance No Comments

Airbnb’s short and startling ride to global ubiquity, it has delighted many people. Hosts can rent rooms or their entire home and use the income to avoid having a day job, to make ends meet or to get into the bed-and-breakfast business without bothering with local licensing rules or all the usual red tape.

This is one of the “new shared” economy businesses that continue to evolve around us.

For those of you who are planning to rent out some space, please remember to check in with your insurance agent BEFORE you host guests. In most cases you will need to add additional liability protection to your home insurance policy to cover this added exposure.

Here is a recent article of one guest’s Airbnb stay that did not quite go as planned!

Your Employees Past and Present, Time to Get Serious!

Posted on: April 6th, 2015 by Commercial Insurance No Comments

We’ve mentioned Employment Practices Liability before in our Commercial Insurance blogs, monthly email blasts and renewal contract recommendations. Last month, Two of our clients received attorney letters citing Wrongful Termination and Discrimination.

Client 1: Small retailer laid off Three employees in 2014.
One employee is suing for Discrimination.
Client 2: Small auto repair company terminated a twenty year employee. After many complaints from customers and meetings with the owner, the employee was fired after three good sized accounts moved their business.
Employee sued for Wrongful Termination.

Employment Practices Liability (EPLI) provides coverage to you for allegations of Wrongful Termination, Discrimination, Sexual Harassment and Retaliation. The actions could be from you, a manager or from one employee to another.

EPLI claims happen all the time. Most of the cases don’t get to trial, but defense costs can easily exceed $50,000 even on a seemingly minor allegation. We have a client who is in the middle of a Sexual Harassment suit, the suit is two years old and defense costs are in excess of $200,000 to date. Yes, they have some EPLI coverage.

Most insurance companies today can provide limited coverage on your current business policy for a small additional premium. Limits range from $10,000 to $250,000. Additional cost to add, $100-200 per year. Higher limits are available if you purchase a separate policy.

Take a Pro-Active approach to EPLI, You have EPLI questions, Call us Today.

You have EPLI questions, We have the answers!