QBE North America
QBE’s Digital Health Insurance Report finds clients are interested in learning more about the risks associated with digital health services and the coverage that is needed
The increasing reliance on digital health services, such as telehealth and telemedicine, is reshaping healthcare delivery, introducing new risks and raising important insurance considerations. While digital health services enhance the access and efficiency of patient care, these services also create a range of risks related to diagnosis, treatment, data privacy and compliance.
The findings from QBE’s 2024 Digital Health Insurance Report provide insights into how healthcare organizations are contemplating insurance coverage for digital health services. These insights are based on a survey of insurance brokers who specialize in healthcare liability, with a focus on medical malpractice and allied healthcare liability.
Key findings from the report include:
- Digital health services become more common. The pandemic significantly accelerated the adoption of digital health services. In the last 12 months, 66% of brokers say their healthcare provider clients, on average, have interacted with patients via a digital health platform rather than in-person.
- The risk landscape is complex and evolving. While many of the same risks of in-person services apply when conducting patient care via a digital setting, virtual services come with heightened exposures. The survey findings reveal that 63% of brokers say their clients are “extremely concerned” or “very concerned” about the risks associated with using these services. Sixty percent of brokers say the number of digital health services related claims filed by their clients has increased compared to 12 months ago.
- Closing the gaps in knowledge and coverage. Eighty-four percent of brokers expressed concern that some clients may be operating without adequate insurance for digital health services. Not surprisingly, in the last 12 months, 39% of healthcare provider clients, on average, sought confirmation that their policies addressed their digital health consultations.
- Clients are interested in learning more about additional coverage. When brokers inform clients that they may need to update their policies to ensure they’re covered for digital health services, 50% say clients are interested but need more information, 27% say clients want to purchase additional coverage, and 23% say clients decline to pursue additional coverage.
Opportunity to raise awareness about the risks and educate clients on coverage
As digital health services continue to evolve, new risks will inevitably emerge. Addressing these challenges requires a proactive approach to risk management. The survey findings indicate there is a significant opportunity to raise client awareness about the risks related to digital health services and to further educate clients on the coverage that is available to protect their business.
Notably, 68% of brokers anticipate an increase in demand for digital health services coverage over the next year, underscoring the need for tailored insurance solutions that are accessible, clear, and adaptable to the evolving healthcare landscape.
For more information on how QBE North America is addressing these challenges within its Healthcare Liability practice, please visit https://www.qbe.com/us/healthcare-liability.
QBE makes no warranty, representation, or guarantee regarding the information herein or the suitability of these suggestions or information for any particular purpose. QBE hereby disclaims any and all liability concerning the information contained herein and the suggestions herein made. Moreover, it cannot be assumed that every acceptable risk transfer procedure is contained herein or that unusual or abnormal circumstances may not warrant or require further or additional risk transfer policies and/or procedures. The use of any of the information or suggestions described herein does not amend, modify, or supplement any insurance policy. Consult the actual policy or your agent for details about your coverage. QBE and the links logo are registered service marks of QBE Insurance Group Limited. © 2024 QBE Holdings, Inc.