Why choose IOA for health care insurance?
IOA delivers tailored insurance solutions to address the unique risks of today’s health care environment, including regulatory compliance, employee safety, cyberthreats, and evolving policies. With extensive experience in the health care sector and access to top markets, we help you ensure your organization is protected with comprehensive, cost-effective coverage.
Beyond standard insurance, our proactive risk management services help you identify and mitigate potential threats, enhancing safety and maintaining compliance. Our dedicated claims team aid in more swift resolutions, minimizing disruptions to your operations.
By choosing IOA, you gain a trusted partner committed to safeguarding your organization and supporting your mission to provide safe, high-quality care.
Why is health care spending rising?
U.S. health care spending as a share of GDP, according to CMS:
17.3 in 2022
19.7% in 2032
At IOA, we provide insurance solutions to help you manage these financial challenges effectively.
Aging population
The U.S. population is aging, with a significant increase in seniors requiring more frequent and specialized care.
Advances in treatment and technology
The rapid adoption of new medical technologies and treatment—such as minimally invasive surgery and personalized medicine—improves patient outcomes and decreases costs.
Increasing prevalence of chronic disease
The U.S. has high rates of chronic conditions, such as diabetes, heart disease, and obesity, which require ongoing treatment and monitoring.
Regulatory and compliance requirements
Compliance with stringent federal and state regulations requires substantial investment in technology and administrative processes.
Focus on patient safety
The U.S. healthcare system rightly places a strong emphasis on patient safety, but investments in risk management and quality initiatives increase operational costs.
Health care insurance products
Products for the health care industry include:
Professional liability (E&O)
Professional liability (E&O) insurance protects professionals and businesses against claims of negligence, errors, or omissions in their services.
General liability
General liability insurance covers bodily injury, property damage, and personal injury claims arising from business operations.
Cyber liability
Cyber liability insurance helps businesses recover from incidents like data breaches, ransomware, and regulatory penalties.
Commercial property
Commercial property insurance safeguards physical assets, including buildings, equipment, and inventory, against risks like fire, theft, and natural disasters.
Workers compensation
Workers compensation insurance covers employee medical expenses and lost wages resulting from work-related injuries or illnesses.
Directors and officers
Directors and officers insurance protects company leaders from personal liability for decisions made on behalf of the organization.
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