Why do you need Virtual Care/Telemedicine Insurance?
With a growing demand for the medical industry to deliver more accessible healthcare, Virtual Care and Telemedicine Companies offer innovative online solutions. Although new technology-enabled healthcare comes with a slew of benefits, it also has a unique set of risks.
Nearly 31% of healthcare organizations use video-based telemedicine, and 34% offer remote patient monitoring. It’s no surprise that most Americans depend on some technology-enabled healthcare — especially now, with a worldwide health crisis changing healthcare as we know it.
Aside from the skyrocketing cost of a data breach — averaging $4 million worldwide — Virtual Care and Telemedicine Companies must safeguard their patients’ vital information. Consider that one cyberattack could cost nearly $1 million as well as hundreds of patient files compromised. Insurance protects companies from financial damages by diligently upholding cybersecurity.
Many people with diverse needs depend on Virtual Care and Telemedicine Companies for their mental and physical wellness. Longevity in this industry is undoubtedly a primary goal. Legal holdups, reputational harm, or property damage could delay momentum significantly, causing patients to lose out on essential healthcare. Insurance products help companies maintain their rapid pace forward.
Individuals worldwide rely on technology to connect with high-quality medical experts. That said, it’s tough to provide adequate access to healthcare to some people. Rural or remote patients or those with debilitating mental conditions deserve the same care as everyone else. Virtual Care and Telemedicine can make that happen — and insurance helps bring the dream to life by providing a viable safety net for various exposures.
What is Virtual Care/Telemedicine Insurance?
Virtual Care and Telemedicine Insurance is coverage for any tech-enabled healthcare company, providing access to high-quality medical expertise, patient monitoring, and information sharing. It covers medical malpractice, professional indemnity, tech and media liability, products liability, and cyber liability.
What does Virtual Care/Telemedicine insurance cover?
Virtual Care and Telemedicine Insurance covers several main areas, including:
How it Works
Who needs Virtual Care/Telemedicin insurance?
Although Virtual Care and Telemedicine aren’t anything new, our society relies on them more now than ever before. Several company types fall in the category of Virtual Care and Telemedicine. The following are a handful of companies that benefit from having adequate insurance coverage:
Real-time or live telemedicine
Remote patient monitoring
Specialist and primary caregiver consultation
Thoroughly enjoy working with the entire Founder Shield team. They not only took care of our insurance needs in a stress-free manner, but creatively structured solutions unique to our business model that has helped us continue to scale and grow
Great mix of old-school customer service with awesome use of technology to make the process as seamless as possible.
The Founder Shield team is undeniable a wonderful and very support partner. Not only are they 100% devoted to your company and insuring compliance, they provide continuously guidance as we are not experts in the insurance field. They work around the clock collaboratively and we appreciate all that they do for us. Rachel Jenkins is our dedicated account manager and she is extraordinary – I have never met a partner who goes above and beyond like she does to ensure all of our needs are met!