Assessing risk: How you should be evaluating potential behavioral healthcare clients
In the world of behavioral healthcare, identifying the variety and level of risk involved with each of your clients is critical to ensuring the success of your book of insurance business. At ATP, our experts are solely focused on this unique healthcare sector every day. As a result, they have the expertise to identify what makes an addiction treatment provider a good long-term insurance client.
Over the years, our expert underwriters have identified a number of factors that help us accurately assess risk and coverage needs of various types of treatment providers. Following are some key factors for Opioid Treatment Providers:
- Low staff turnover rate
- Physical exams and biopsychosocial evaluations and documentations
- Toxicology screenings
- Adherence to SAMHSA’s criteria for OTP standards of care, including unsupervised approved use (take-home) of medication
While this list is in no way an all-inclusive one, these are the types of policies and procedures our underwriters evaluate and closely look at to determine whether your addiction treatment provider is a good risk for our insurance offerings. As a result, our experts in behavioral healthcare facilities can potentially help reduce your clients’ exposure for new claims.
What else raises a red flag for our underwriters? Watch the video below and reach out to us today to learn more about the key risk assessment procedures involved and how our behavioral health insurance experts can help you better protect your current and future clients.