According to industry reports, Amazon might be the next big name to enter the medical technology industry. Last July Amazon executives met with members of the FDA. While the details of the meeting are unknown, there is heavy speculation that the e-commerce giant could soon be stepping into the healthcare arena as a medical goods and equipment supplier, as well as a potential provider of telemedical services. While Amazon has yet to fully reveal their plans, the opportunity in such markets is increasing as the american population continues to age and adapt to new methods of bringing heath care and medical services into the home.
As the demand for home healthcare continues to rise, so does the demand for durable medical equipment. Loosely defined, durable medical equipment is any medical equipment used in the home environment to provide patients a better quality of living. These healthcare products often include medical ventilators, portable oxygen tanks, catheter systems, home care medical beds, wheelchairs, automatic chair-lift systems, and much more. Any operation which specializes in the delivery, instillation, maintenance and care of such equipment face a unique set of loss and liability exposures.
A comprehensive durable medical equipment suppliers insurance program can help protect medical equipment suppliers against those exposures. For example, a strong property insurance program can protect suppliers from losses resulting from damage to expensive equipment that is sold, leased, rented or serviced under their supervision or placed into their care. It can also protect demonstration, instillation, delivery and repair professionals from any liability exposures they may face through the performance of their professional duties. The right liability coverage will protect a durable medical equipment supplier from lawsuits arising from an injured party as a result of advice or guidance given regarding the medical equipment that they purchased or rented.
Manchester Specialty Programs specializes in providing integrated comprehensive insurance solutions for various home health care organizations, including durable medical equipment suppliers. Our specialty insurance programs offer the coverage this sector needs, including Workers’ Compensation, Professional Liability, Employment Practices Liability, and much more. To learn more about our Durable Medical Equipment Suppliers Insurance programs, contact us today at (855) 972-9399.