Nonprofit hospitals, clinics, and other healthcare centers have become increasingly rare in the United States as for-profit facilities take over. Still, mission-focused healthcare providers remain an important force in the healthcare industry – and they face the same liability exposures as their for-profit counterparts. Obviously, when patients’ health is on the line, the stakes are high and the potential for lawsuits is significant.
Those lawsuits can be prohibitively expensive, even when your healthcare facility is found to have done nothing wrong. Luckily, liability insurance can help manage the risk lawsuits pose. Because most liability policies can cover the costs associated with being sued (including lawyers’ fees, court costs, and even judgments or settlements), they offer a safety net and peace of mind that can be elusive in such a high-stakes field.
For more information on the kinds of policies that can help nonprofit healthcare centers, hospitals, and clinics reduce their risk of facing financial devastation after a lawsuit, read up on the policy types below.