Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: Tameka79 on June 19, 2017, 08:04:36 AM

Title: E&O Insurance
Post by: Tameka79 on June 19, 2017, 08:04:36 AM
Good Morning,

Is there a recommended amount of E& O insurance you should have?

Title: Re: E&O Insurance
Post by: Michele on June 21, 2017, 10:03:10 AM
It would depend on how big your company is (or plans to be) and the average size of your clients.  $1,000,000/$3,000,000 is usually plenty for most average sized billing companies.
Title: Re: E&O Insurance
Post by: Tameka79 on June 22, 2017, 09:15:37 PM
Thank you Michelle. I was thinking about getting $250,000/$1,000,000.
Title: Re: E&O Insurance
Post by: Michele on June 24, 2017, 06:19:19 PM
That is probably fine.  Personally I feel the $1,000,000/$3,000,000 is high for most billing companies, but when I researched it that was the number that was considered average.