When this happens, patients often incur many additional expenses and are left with no other recourse than to bring litigation against their physician. A new product from Jacksonville, Fla.-based Surgical Risk Solutions aims to give patients another option regardless of fault.
Complication Insurance is a new insurance product designed to provide financial resources to surgical patients in the event that they have adverse outcomes following surgery. It can provide financial assurance to patients and their families should an adverse outcome occur as a result of the surgery, says Andrew Kagan, CEO of Surgical Risk Solutions. He says he developed the idea for the product after watching healthcare trials out of law school.
“A patient’s family had sued a physician after he had passed away due to a blood clot following a procedure. The physician had done everything correctly, so no one was at fault, and the jury ruled in the physician’s favor. I thought that there had to be a better way to ensure that families are protected from these situations,” he says.
Complication Insurance goes into effect on the day of surgery and allows 30 days for a covered loss to occur following the surgery. Covered losses range from common complications, such as death, paralysis, loss of the use of a limb and brain damage. Infections, such as MRSA, that lead to covered accidents are also covered.
Mr. Kagan notes that all patients worry about their surgery, and although providers do not want to scare patients, it can be an important risk-management step to inform patients that such product exists.
“Sometimes, no one is at fault when catastrophic outcomes occur,” he says. “By purchasing this coverage, patients and their families can ensure that they will have financial assurances should the surgery cause a catastrophic injury.”
Learn more about Complication Insurance.
