Today, people can expect to live well into their 60s and beyond. By 2020, the number of those aged 60 or above will outnumber children under the age of five for the first time. This trend will only continue as it's expected that by 2050, the portion of the world's population over 60 will double. With this increased population, the need for home health care is expected to expand substantially in future years. With it, demand for home health care insurance is also expected to increase to provide coverage for the unforeseen.
Philadelphia Insurance Companies (PHLY) is here to provide flexible and comprehensive home health care coverage so home health care organizations can focus on patients instead of on claims.
Why is Home Health Care Insurance Needed?
It's important to protect against the unforeseen. Even with proper training and risk management techniques, accidents still happen. Consider this scenario: A patient was confined to a wheelchair and fell when she was bending over to pick up a washcloth she had dropped. Her aide was washing a coffee pot in the kitchen. It was alleged that the aide was negligent in not properly providing assistance.
The aide claimed that the claimant had been left, secured, in her wheelchair and attempted to reach the washcloth on her own, removed her safety, belt and fell. This claim was resolved for $293,675.
In another scenario, an 87-year-old male, who had received home health care for years, was severely burned while taking a shower. He had just had a new water heater installed with temperatures set well above the 120-degree recommendation. While the caregiver was getting gloves from the closet, the man was severely burned due to his lack of sensitivity and reduced mobility. This claim was resolved for $193,000.
As the average lifespan is now 78.6 years, the need for in-home health care and with it, home health care insurance, will continue to grow. It's important to be properly insured against potential risks.
PHLY specializes in the Home Health Care industry and offers more than a decade of experience in home health care insurance. With flexible coverage that is tailored to meet their specific needs, PHLY offers a number of benefits that make us the best possible insurance company for home health care organizations.
What Sets PHLY Apart From Other Home Health Care Insurance Providers?
1) Best In Class Coverage
PHLY provides coverage in almost every state with 50 local offices. Our Home Health Care Insurance Package is designed to fulfill niche-specific exposures and insurance needs. As part of our package, we offer:
- General Liability, Professional Liability, and Abuse & Molestation coverage on a first-dollar basis
- Separate limits of insurance for each line of coverage
- Defense cost outside policy limits
- Defense cost responding to state regulatory or disciplinary agencies investigations
- Coverage for medical directors
- Primary and vicarious medical malpractice coverage for your physicians
- Business Income loss arising out of civil authority at your client premise
- Coverage for theft of your client's property
- Hired and Non-Owned Auto coverage
Coverage is available to a broad number of home health care organizations, including:
- Hospice
- Independent Care
- Personal Care
- Skilled Care
- Non-Skilled Care
Visiting Nurse Associations In addition, PHLY provides a simple and streamlined application for coverage, saving you precious time every step of the way.
2) Customer Service
At PHLY, we take pride in our financial stability and broad coverages; however, our customers will tell you that it's our service that truly makes us stand out. With our unsurpassed customer service, we have a 96% overall customer satisfaction rate. As our mission says, we believe that integrity and mutual respect are the foundation of long-term and fulfilling relationships with our employees, customers, and business partners. In addition, at PHLY we continuously review and refine our business processes to improve efficiency and the ease of doing business with us.
3) Risk Management
PHLY wants to help organizations reduce potential loss. We offer product-specific resources, alliances, and service capabilities to help home health care organizations be as prepared as possible. This includes:
- Safety Program Development
- On Demand Training
- Web-Based Training
- Defensive Driving Training
- GPS Trackers
- Discounted background checks
PHLY is familiar with this industry's unique risk management needs and will work closely with our customers to develop a risk management insurance program with measurable results.
4) PHLY Claims
The moment PHLY is notified of a claim, our agents and customers receive a prompt and attentive response. PHLY immediately assigns a file number for their reference and a specific claims servicing representative is in contact within 24 hours. PHLY then conducts a thorough investigation of the claim and provides proper adjustment.
Get Started with PHLY
At PHLY, our passion sets us apart. We're committed to excellence and our disciplined approach to business gives us financial strength that differs from other companies. We have been rated A++ Superior by AM Best and our customers are confident that we'll always be there for them. As a niche marketer, PHLY specializes in more than 120+ markets.
Our comprehensive benefits include:
- Commercial General Liability, Professional Liability, Automobile Liability and Excess Liability all with one carrier
- Abuse & Molestation Coverage available
- Special causes of loss on building, contents, loss of income, and extra expense
Contact us to speak with an experienced professional today! Call us at (800) 873-4552 or email phlysales@phly.com with any questions.
