Insuring Virtual Care Risks: Captives as a Safety Net For Telehealth Expansion
The rapid expansion of telehealth, projected to become a $175.5 billion industry by 2026, offers convenience and accessibility but also introduces significant risks, including cybersecurity threats, malpractice concerns, and regulatory compliance challenges.
In a recent article published by Medical Economics, Randy Sadler of CIC Services discusses the complex web of state-specific telehealth regulations, evolving reimbursement policies, and rising cyberattacks that make risk management critical for medical practices. As telehealth becomes a permanent fixture in healthcare, providers must proactively address its risks through comprehensive insurance strategies and robust cybersecurity measures to ensure financial and reputational stability.
Traditional insurance often fails to fully cover telehealth-specific risks, such as data breaches, regulatory violations, and technical failures. Captive insurance is presented as a tailored solution that allows medical practices to create their own insurance coverage, providing benefits such as cost control, risk retention, and customized policies.
Read the full article here to discover how captive insurance can help safeguard your business against rising risks.