Tag: VGM Insurance

2020 may well go down in history as one of the most challenging years of the modern era. From the COVID-19 pandemic to civil unrest and a contentious political climate, this year required more flexibility and resilience from individuals and businesses than any in recent memory. Yet, these challenges also shed light on issues both old and new. And for those with an eye for opportunity, 2020 brought many lessons that can help grow and improve their businesses for the future.   Here’s...

WATERLOO, Iowa - VGM Insurance Services, a division of VGM Group, is celebrating 30 years providing specialty insurance programs for a variety of niche industries. “We're excited to celebrate such an important milestone,” said Mike Mallaro, VGM's CEO. “VGM Group as a whole has experienced significant growth over the past three decades, and VGM Insurance has been essential to that progress.” Over the last five years, VGM Insurance has seen tremendous growth - it has made strategic...

The coronavirus pandemic's effect on daily life has been unprecedented, and everyone—including business owners—has looked forward to returning to normal (in whatever shape that takes). Whether you find yourself in an area that has already lifted stay-at-home orders or is about to, there's a lot to consider before resuming operations. Especially in the health care space, your customers may be part of a vulnerable population. And to protect your customers, your employees and your community,...

2020 is a brand-new year, and with it comes brand-new opportunities to grow your business. But in order to make the most of the next 366 days (it is a leap year after all), it's important to reflect on the lessons of 2019. So, without further ado, here are a few of the things we've learned about managing risk that we'll be carrying into the '20s. Set Boundaries for Cannabis in the WorkplaceForty-six states have legalized cannabis in some form, and the list of states legalizing medical and recreational...

A. When done right, good documentation tells a story. It paints a clear picture of the facts surrounding a claim—the classic who, what, when, where, why. But, of course, it's no simple task. Every claim and every patient is different, making a one-size-fits-all solution for documentation almost impossible. Still, there are a few solutions you can incorporate into your process to help you mitigate your risks.Document service, changesKeep a record of the initial equipment setup, as well as when...

A. It's a common practice for HME providers to rent equipment to their patients. The arrangement works out well, for the most part. The patient doesn't have to pay the full price of their device up front, and the provider gains a steady source of recurring revenue. It's win-win. Unfortunately, this arrangement exposes providers to certain risks that their insurance policy may not always cover.What happens, for example, if a patient passes away while in possession of your expensive equipment? Their...

One of the many items to check off on the to-do list for HME providers planning to submit bids in Round 2021 of competitive bidding is obtaining $50,000 bid bonds for each CBA in which they plan to submit a bid. The team at VGM Insurance Services, which has partnered with Lexon Insurance Company to offer bid bonds, recently offered some clarifications about the new requirement.What's a bid bond?Bid bonds are in addition to the surety bonds required to participate in the Medicare program, says Leanne...

Waterloo, Iowa-based VGM Insurance Services has been named one of Business Insurance Magazines's Best Places to Work for 2018. The award recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work and help their companies grow. Harrisburg, Pa.-based Best Companies Group identifies the leading employers in the insurance industry by assessing each company following an analysis of policies, practices and demographics, as well as a review...

Allegations of sexual misconduct in the workplace dominated the headlines in 2017, resulting in Time magazine choosing the #MeToo movement as Person of the Year for raising awareness about sexual harassment and assault.Now, more so than ever, it's imperative for businesses to adopt policies as a proactive measure to protect their business from litigation brought on by employee harassment claims.Workplace harassment can come in a variety of forms and is one of the most difficult risks for an organization...

3B Medical has committed to allocating a significant portion of its profits to fund research adult autologous stem cell research for use in treatment of pulmonary fibrosis, diabetes and neurological diseases. "We spend a lot of resources treating the symptoms of diseases, and not enough trying to target the actual causes,” said President Thomas Thayer, Sr., in a release…VGM Insurance Services has partnered with AAHomecare to offer preferred pricing to AAHomecare members. Going forward,...