Acupuncture is the ancient Chinese form of medicine that uses hair-thin needles in various pressure points of the body. These points help energy flow through the meridians of the body, healing the body inside and out. If you run an acupuncturist’s business, you are already aware of how profitable it can be. But keep in mind you have a number of different risks by operating this type of business, and should learn about them in order to choose how best to protect your business.
Physical Liabilities
The first risks, and some of the most important to consider, are the physical risks to the patient. This can be unexpected side effects and complications due to the acupuncture itself or the needles or other items you’re using for acupuncture. Here are some liabilities you should be aware of in regards to physical health and wellness:
- Infection. You should always be using sterile needles that are disposable. If you or your employees fail to make sure the needle is new and sterile, it could lead to nasty and dangerous infections of your patients, including hepatitis.
- Medical Conditions. Not everybody is a good candidate for acupuncture. Make sure you take the time to ask potential new patients questions about their medical conditions, as people with bleeding disorders, pacemakers or are pregnant, are at a greater risk for complications.
- Illness and Injury. Make sure all of your acupuncturists are well educated, properly licensed as acupuncturists and have experience to back up their education. This will reduce any illness or injury caused to the patient during treatments.
Safety of Your Business
The health and safety of your patients also include how you conduct business and what type of environment you have for your acupuncturist business. You want to always have sterile, clean and hygienic treatment rooms, as well as using sterile instruments and disposable needles. Once they are used, the needles should be placed in a sharps box that keeps anyone from becoming injured from those needles. Disinfect all surface regularly, including beds, couches, countertops and materials used. Acupuncturists should also be hygienic with clean nails and hands.
Legal Risks
Your acupuncturist business also has some legal risks, starting with having proper licensing and registration of your business. Maintain a business license and be sure you are licensed to run an acupuncturist business. Display this license publicly so others can see it. Any herbal medications you use in your practice require you to be licensed for providing these types of medicinal products. Additionally, make sure you follow proper laws in regards to your employees, including screening them properly and following legislation like providing workers’ compensation insurance and following the Employment Rights Act and National Minimum Wage Act.
Financial Risks
Be prepared for some financial risks as well. If there are slow times during the year where you haven’t had a lot of patients, you may be looking at lower income during those months. Make sure your business is well prepared for these different phases, which are common among all businesses, including acupuncturist businesses.
Building and Property Risks
Finally, your building and property have some risks. It is important to always keep up with maintenance in your acupuncturist office, because a flood, fire or other unexpected event could be disastrous. This is also one of the reasons to be protected with commercial property insurance. You not only have to pay for repairs, but patients aren’t able to visit your office until these repairs are completed. Always practice good fire safety in your building, have a first aid kit on hand and train employees on proper evacuation methods.
Aside from protecting your business from these risks through preventative measures, protect your business with acupuncturist insurance. This includes coverage for many of the liabilities you are facing and help to mitigate your risks.
