Mistakes can happen, no matter how careful you are. This is problematic at pharmacies, where the results of a mistake can cause physical harm and even be deadly. There are numerous steps in place to stop customers from receiving incorrect medications or wrong dosages, but sometimes, things slip through the cracks. When a customer ends up in the hospital after taking a medication that they thought was one thing, but turns out to be another, the pharmacy is the one who is liable. Professional liability insurance is designed for this very reason.
Why does your pharmacy need this type of insurance? Let’s explore a few of the many reasons.
Patient or Customer Lawsuits Are Common
Sometimes, even when a patient receives the correct medication, they can lash out at whoever they feel is responsible if it doesn’t work. In some cases, this ends up being the pharmacy. A lawsuit alleging that they received medication that negatively interacted with what they were already taking (even if it wasn’t disclosed) can be costly to the pharmacy. Legal expenses and settlement costs can be high. Thankfully, professional liability insurance can cover some of these costs.
Mistakes Can Be Made
Pharmacists and their assistants tend to be diligent workers. They comb over other prescribed medications looking for interactions, triple-count the medication amounts disbursed, and check to make sure that the medication itself is the correct one that was prescribed. However, no one is perfect, and mistakes can be made. When they are, the customer suffers the consequences of it and can end up with unexpected side effects and other issues. They often sue the pharmacy to try to recoup their medical bills, lost wages, and more. Again, this is where professional liability insurance can help.
Protecting Your Pharmacy and Business
Your pharmacy plays an essential role in both your life and that of the people around you. Your customers rely on your pharmacy and your trained pharmacists in order to get the medication that’s prescribed to them. Without your pharmacy, they may have to travel long distances to get the meds that they need.
Also, your pharmacy is your business. You use it to make money to support your family and more. Because of this, you need to keep it protected in every possible way, and this includes having professional liability insurance. With this policy in place, you won’t have to worry about accidents made by pharmacists, as you’ll have the right coverage to pay for legal costs and other things.
Having a Professional Liability Insurance Policy
A professional liability insurance policy is something that every pharmacy must have because mistakes do happen, and you and your business can’t afford to pay legal costs out of pocket.
Have Questions? Contact Charlotte Insurance
Want to learn more about professional liability insurance for pharmacies? Contact Charlotte Insurance. Our agents can explore and explain all available options and put together the insurance coverage plan your business needs.