Professional indemnity insurance

Insurance basically provides essential financial protection to a various type of professional advisers is defined as professional indemnity insurance.

Professional indemnity insurance helps to cover the cost of defending claims and paying any damages; in an event where the client faces financial losses because of assumed error; omission or neglect on the client’s part.

Benefits of professional indemnity insurance for doctors:

• The insurance will help reimburse some of the legal expenses that may be accrued including defence costs like (costs, fees, expenses) incurred while investigation, cost of, compensation, representation etc. Beneficial not only to the doctors but also to their patients & their dependents as the insurance company takes care of the compensation
• It is mainly the precautionary measure as it prepares the doctors for varied types of risks associated with their work. It provides an ability to handle more varied possible future mishaps that can otherwise leave a person bewildered and panicked
• It acts as a  best and safety rope giving enough protection against the future perils which cannot be changed or made arrangements for normally
• This insurance acts like a support system for providing doctors the much needed monetary support; as well as a team of people who can help the doctor through various unplanned and misfortune ordeals

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How big brand hospitals maintain their edge in the market

How big brand hospitals maintain their edge in the market

• These bigger hospitals through branding and marketing communications which include activities such as logo design are able to create a strong brand.
• Big brand hospitals use a number of methods to maintain the image and popularity of their brand in the market: regular conferences, seminars, events, workshops and medical camps. All of which are expensive and require huge finances.
• Big brand hospitals are able to provide corporate employees special discounts on medical services, add patients and enhance their brand.
• The bigger brands advertise in the print media and publish interviews of famous physicians of their hospitals.
• In sum, the big brands, since they have a name in the market are able to target the corporate sector quite
easily as compared to small hospitals that have not yet established their credibility in the market.
All of these activities are next to impossible for a small hospital and the hospital owner who is struggling with finances. The smaller hospitals that have no funds to carry out such activities are therefore lost somewhere in the race. The small hospitals out here stand no chance in front of these giant brands.

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