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The Mystery Of Medical Transcription

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How To Choose A Medical Billing Company

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Retirement And Estate Planning For Physicians

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How to get a DEA license

Merchant Services – ACH Payments

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What Is Money Factoring?

Document Imaging

How to Find a Medical Management Firm

What is a Medical Commercial Building?

Building a Team of Experts

How to Find a Medical Legal Firm

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The Best Software for Doctor’s Offices

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The Mystery Of Doctor Credentialing

How to Prepare a Cash Flow Analysis

Private Practice vs Hospital

The Mystery Of Medical Transcription

In-House Human Resources vs Outsourced

What is HIPAA Compliance?

Long-Term Care Insurance

HIPAA & OIG Compliance Plans

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Capital Funding Needs: Pre-Opening, Opening

Equipment Selection Process

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Medical Office Structure, Layout And Design

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HITECH Act of 2009

College Savings Accounts

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How To Choose A Medical Collection Company

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What Is A Marketing Mix?

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Build Or Buy: In-House Medical Coding Vs. Outsourcing

HMOs vs PPOs

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Types of Commercial Loans for Buying a Commercial Condo

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Determining Location Options

The Medical Coding Company That Could

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Purchasing a Commercial Condo

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The Mystery Of Medical Coding

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Overhead Business Expenses

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In-House Doctor Credentialing VS. Outsourcing

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Must-Have Medical Doctors Insurance

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Insurance Types Needed for a Medical Practice

When you think of purchasing insurance for your medical practice, what comes to mind? For many physicians, malpractice insurance is considered the most important type of insurance to have. But as a business owner and a medical professional, there are actually 7 different types of insurance you need in order to protect your practice from lawsuits, accidents, and natural disasters.

  • General Liability Insurance protects you from being sued if someone injures themselves while at your office. You’re also covered in the case of property damage and loss, like if a patient breaks their smartphone while at your office.
  • Property insurance protects your office from damage due to fires, power outages, natural disasters, and break-ins.
  • A Business Owner’s Policy provides discounted, umbrella-type coverage for small practices that meet certain criteria.
  • Excess Liability Insurance will increase the amount of your General Liability insurance in the most cost-effective way.
  • Data Risk Insurance protects you in the case of a security breach, and covers the ensuing costs of dealing with such a breach.
  • Worker’s Compensation Insurance will protect you in the case of employee injury on the job, and will cover the medical expenses of the injured employee.
  • Malpractice Insurance will protect you in the case of a lawsuit while preventing bankruptcy and the loss of assets.

You’ve worked hard to build and grow your medical practice, so don’t leave yourself unprotected. Be sure to include these 7 types of insurance when budgeting your medical practice expenses.

To learn more about practice setup, finance, billing, insurance, coding, outsourcing…everything a health care provider need to succeed, join DoctorsBusinessNetwork.com or visit Doctors Business Channel on YouTube!

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