Medication-Assisted Treatment Programs Insurance
Medication-assisted treatment recovery programs face unique risks due to the nature of their work. We are here to serve your organization by assessing your risks, providing guidance to help prevent losses, and providing you with quality insurance coverage in case a loss does occur. Our goal is to give you peace of mind, so your organization can continue to do what you do best.
Our agency is experienced in working with Medication-Assisted Recovery Programs to find appropriate coverage for their unique risks. A single event can cripple the finances and reputation of an organization. We work with organizations to place coverages, including:
- Property
- General Liability
- Professional Liability
- Abuse and Molestation Coverage
- Commercial Vehicle
- Workers’ Compensation
What Is Medication-Assisted Treatment (MAT) Program Insurance?
MAT program insurance is a highly specialized form of business insurance designed specifically to protect addiction treatment providers that offer medication-assisted treatment. This insurance is a crucial financial safeguard for the clinic, its medical professionals, and its operations. This type of coverage typically includes essential components such as General Liability to cover common business risks, as well as critical Professional Liability insurance. This professional liability component, also known as medical malpractice insurance, is the cornerstone of the policy for a MAT provider, as it defends the program and its staff- including doctors, nurses, and counselors- against allegations of negligence or professional errors related to the prescribing, dispensing, or management of controlled medications.
Why Do You Need MAT Insurance?
You need MAT insurance to manage the unique and significant liabilities that arise from using controlled medications in addiction treatment. Unlike other forms of care, MAT involves prescribing powerful drugs like buprenorphine, naltrexone, and methadone. This introduces a number of high-stakes risks, including the potential for medication errors, claims of over-prescription, or a patient’s misuse or diversion of the medication. The program is held liable for ensuring the medication is managed safely and for any adverse outcomes that result from its use. Additionally, the Professional Liability is critical because the care team, led by a doctor, is making complex medical decisions with significant legal consequences. Claims can arise from a failure to properly screen a patient, a misdiagnosis of a co-occurring condition, or a medication-related side effect that leads to a negative health event. A robust insurance plan is a non-negotiable part of a comprehensive risk management strategy for any MAT program to protect against the financially devastating impact of a lawsuit.
Selecting the Right MAT Insurance
Navigating the landscape of insurance options to find the right coverage can seem like a daunting task. However, by pinpointing your specific business needs and carefully evaluating various insurance providers, you can secure a plan that is perfectly suited to your business.
When evaluating an insurance provider, you will want to consider their reputation, financial stability, and quality of customer service to make sure you are receiving the best value for your investment.
How to Secure Your MAT Insurance
Finding insurance for your program is relatively straightforward. You can begin by requesting a quote from a reputable insurance provider. This will give you a clear picture of the available coverage options and the associated costs. If you would like to request a quote, you can easily do it here.
Once you have a quote, you can move forward with the application process. This typically involves providing details about your business, such as the number of employees, the type of work you perform, and the value of your equipment. After your application is approved, you can start benefiting from the protection that your inpatient/residential program insurance provides.
Conclusion
The right insurance coverage can be a game-changer when it comes to managing risks and ensuring the prosperity of your program. If you would like to contact our local agents, you can start with a customized quote here.
Steps to Coverage
Complete our easy Request Form to begin the process. Your request is assigned to our agent in your local area.
Meet your Local Agent
Our agent will contact you and gather information about your organization and your insurance coverage needs
We Gather Quotes
Our agent will submit your information to one or more carriers to begin the underwriting process.
Receive Your Quote
Upon receipt of all quotes, our agent will present a proposal outlining the coverage and pricing for your consideration.
Your Coverage Begins
Upon receipt of your initial premium and confirmation that your coverage is bound, your coverage begins.
Chris Graham
Sales Agent – Committed to Addiction Treatment and Recovery Center Protection
Chris Graham brings years of experience planning and placing coverage for organizations seeking protection. As a sales agent with Bitner Henry Insurance, he is happy to answer your questions about coverage for your recovery center or organization. Contact him today, and he would be glad to help.
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