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Risk Management Planning and Nursing Homes Insurance

Senior living programs when properly maintained offer a multitude of valuable services to the elderly. People who need regular care or treatment can thrive in an atmosphere that caters to their needs, often aided by a caring and qualified staff of workers whose purpose in life is to offer comfort to those entering the later stages of their own lives.

It is important to reduce risks and exposures, not only from a property standpoint, but also more importantly, from a professional liability point of view. Nursing homes insurance policies, when done right, offer the type of comprehensive insurance coverage and risk management programs needed to keep any program safe, up to code and in compliance.

Owners should create a solid risk management plan

On the patient side, there is a definite need to keep safe living conditions, to identify areas of risk and implement a plan to abolish those risks in order to avoid lawsuits and litigation. On the business side, enlisting loss control experts who can work to review record keeping and record storing processes, and especially those related to drug records, helps to ensure that the company is doing everything in their power to avoid unnecessary risks and exposures.

A nursing home, after all, is a place for people who don’t need to be in a hospital but can’t get the required health care at home. Most nursing homes have skilled nurses and nursing aides 24 hours a day. Obviously it is important to check the credentials of anyone hired, including background checks and references, so that those employed in keeping residents safe are trusted, and also knowledgeable about the needs of the elderly and are able to take the proper precautions when dealing with the often special needs of those individuals.

Some nursing homes function like hospitals, with nurses’ stations on each floor, and in addition to medical care, some provide physical, speech and occupational therapy. Some nursing homes have special care units for people with serious memory problems, such as Alzheimer’s disease. These people require much more serious levels of care, and are often victimized.

Other nursing homes look more like an average home, where there is no fixed schedule. Many residents may have rooms, much like apartments, and interact with neighbors, and the staff is also encouraged to develop relationships with residents. Nursing homes insurance, like risk management, are the two major ways that nursing homes protect themselves when accidents and other misfortunes occur.


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Considering Directors and Officers Coverage for Private Companies

For those owners that run a small, privately held company, insurance needs do not differ that greatly from those larger, publicly traded companies that also employ directors and officers. This is a common misconception. Directors and officers (D&O) liability for private companies is an insurance policy that has a place in the insurance portfolio of any company where exposures exist.

The general purpose of D&O insurance is to cover claims based on the actions of a company’s directors and officers in their corporate capacity. Anyone, from shareholders and investors, to employees or government agencies can all file claims, regardless of whether the claim is justified or not. The cost of defending such claims can run high (and if a claim proceeds to judgment or settlement, the outcome can be financially crippling).

Important reasons for adding D&O coverage to current insurance protections

  • Private companies, especially early on, may not have the resources to hire necessary specialized support staff or advisers for complex legal filings and other requirements.
  • Even when claims of wrongdoing, negligence or mismanagement are unfounded, they still require defending. Legal defense costs can put quite a strain on the resources of a private firm.
  • Directors and officers of private companies often have a great deal of their own funds tied up in the firm, and being held liable on a claim can have financial repercussions for that executive’s family and estate.
  • D&O policies are best designed when they insure the company, as well as individual directors and officers, because there may be situations where the company can’t, or won’t, indemnify the individually named directors and/or officers in a lawsuit.

A company may not have the financial resources to back up the executive’s loss, or the corporate bylaws or public policy may prohibit it. The current insurance market has made D&O coverage more affordable than it has been in the past, which makes securing it advantageous and a sound business solution.

Individuals may be reluctant to take on director/officer roles without the protection directors and officers insurance for private companies can provide. This may make it more difficult for a company interested in finding the right people to serve in those key corporate positions.

The right D&O coverage, like any insurance protection purchased by a company, gives managing executives much needed peace of mind, as well as allowing them to make better use of their time attending to more important matters, like running the core operations of their company.

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Total Rewards Programs Enhance San Francisco Employee Benefits

Perhaps your company has seen some of the best people, in terms of capability and performance in the workplace, move on to more lucrative positions with other companies. And it may not always be about money. Employee retention these days has a lot to do with perks, such as healthcare provisions and other enticements that make a job more appealing.

Due primarily to stiffer competition in business, you may be finding it more difficult, as a cost-conscious organization, to offer higher wages and more employee benefits in San Francisco these days. But compensation and benefits are the two main factors behind why a person stays at one job for the long haul, along with enjoying their work and being in a sound and peaceful work environment.

A Total Rewards program benefits employees and employers alike

This means you may benefit by providing, or implementing, some type of “total rewards” program that encompasses not only compensation and benefits but also personal and professional growth opportunities and a motivating work environment.

Most employers have had to find alternative forms of rewards that cost less to implement but that still motivate employees to excel. You may need to create a team that brings expertise in finance, employment law, HR information and payroll systems, as well as someone to represent both, the middle and lower layers of management in your organization in order to accomplish this.

Secondly, organizations have become much more strategic in their management of human resources. For example, some larger companies now treat compensation as well as training as rewards that must be managed together (rather than separately by different HR teams). Smaller companies can usually designate one person to handle these matters.

Lastly, you should include a HR professional with extensive total rewards experience and the ability to develop policies and procedures. No organization wants to see talented individuals going elsewhere seeking better opportunities. Make your San Francisco employee benefits plan a key component of your business strategy.

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Hurt? Ask a Doctor Online

Health care is one of the most important issues of the day, and many individuals and organizations are trying to develop better ways for patients and doctors to communicate. Telemedicine is a process that can provide people of all backgrounds with affordable health consultations and care options. Participating online doctors are accessible to anyone with an internet connection and a webcam. With a simple call or online appointment, sick individuals can get the help they need.

Accessing an Online Diagnosis

Thousands of people are turning to the internet to perform their own online diagnosis based on symptoms that they can observe themselves. However, this process often provides little meaningful information about treatment to the patient. When online doctors are added to the process, an individual can then:

• Get convenient and reliable medical help from home

• Save money and time

• Cut out lengthy waiting room visits

• Treat illnesses as soon as possible

• Receive e-prescriptions and submit lab results via a secure internet server

Although a patient may need to go to a physical clinic to submit lab samples or pickup a prescription, much of the preliminary checkup can be performed from the comfort of the home.

Medical Help Online

This type of care platform provides state-of-the-art consulting for patients no matter where they live or what kinds of monetary resources they have. Although it may seem odd at first to consult a physician over a webcam, this technology has made online consulting an extremely viable option for people seeking real medical advice from an experienced professional. To learn more or to get medical help now, call a participating clinic or physician.

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