BC Advantage - 2015 Issue 2

Errors and Ommissions Insurance for a Billing Company

By Chris Woolstenhulme, MBRA, CMRSDo I Need Error and Omissions (E&O) Insurance For My Billing Company?I've owned a billing company for the past 20 years. It has been a great journey: 20 years ago it was called a Home-Based Business, today it is called a Corporation (for protection and liability reasons). Medical billing has been considered low risk... until now. With HIPAA, E&O and Business Associate agreements in the mix, the world of billing is changing at an alarming rate. Until recently, I never considered it a necessity to carry insurance on my small company; but...

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