Friday, May 2, 2014

The Coverage Many Pharmacies Don't Know they Need: Allied Health and Data Breach

300,000 pharmacists employed in the USA face immense amounts of risk everyday. While handling and giving advice regarding medications, pharmacists hold the vitality of their customers lives in their hands. Given the state of today’s litigious society and the long, difficult hours many pharmacists work, mistakes are occasionally going to happen and lawsuits are bound to occur.

It is imperative that pharmacists get the best coverage available to them.  However, coverage options and insurance language is often confusing and sometimes misleading, resulting in many pharmacies receiving less than ideal coverage. Pharmacists must educate themselves on the range of coverage they really need.

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Professional Allied Health Coverage for Pharmacies

Professional liability is vital in protecting against malpractice or negligence lawsuits. One small mistake can quickly escalate into a claim resulting in loss of professional credibility and personal assets.

Claim Example
In October of last year, a family of a young girl filed a $750,000 lawsuit against a local pharmacy alleging that the pharmacist professionals negligently labeled a prescription with incorrect directions resulting in the child consuming a dosage five times larger than what was prescribed. The prescription was called into the pharmacy in 2008. When the child was given the dose as instructed on the bottle, she suffered a serious seizure, required immediate hospitalization and faced years of resultant suffering. Although the pharmacy insists they filled the prescription as it was phoned it, fingers have been pointed. The local pharmacy now faces the possibility of more than a million dollars in defense and damages.

Data Breach Coverage for Pharmacies

The average cost for resolving a single case of medical identity theft averages $20,600. And that’s just for one person. In 2010, nearly 1.5 million Americans and a equally staggering number of pharmacies fell victim to medical identify theft. The right data breach coverage plan can not only protect pharmacies against these exposures but also help to prevent crippling data infringements.

Claim Example
A pharmacist was recently sentenced to 25 months in prison for patient identity theft when she exposed private prescription data of one patients to her husband. Additionally, the patient awarded $1.44 million in damages. The pharmacy and pharmacist faced immense financial and emotional costs as a result of a momentary lapse in judgment.

Apogee Advantage

At Apogee, with our industry expertise and service promises, we commit ourselves to taking advantage of these market conditions and bringing you the most competitive coverage for your pharmacy needs. We will work closely with you to ensure full, personalized coverage and a painless application process. With in-house coverage specialists and market access to over 50 "A" rated or better markets, Apogee is your solution for professional and data breach pharmacy entity coverage.

We can also entertain compounding pharmacies.

To learn more please visit our website:

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Contact Information

Charlie Strum
Account Manager
(610) 337 3200
Ext. 7036