#11: Insurance for Digital Health Innovators: A Surprising Conversation with Beracah Stortvedt of Marsh & McClennan Agency

Decoding Healthcare Innovation

What you’ll get out of this episode

If your company deals in healthcare data, mobile apps, digital therapeutics, multi-jurisdictional telemedicine, or any other interesting digital health angle, you’re about to find out why insurance is an essential (and even interesting!) conversation for innovators.

Beracah Stortvedt is the Digital Health and Emerging Med-Tech Practice Co-Leader at Marsh & McLennan Agency. He helps companies in the Digital Health and Healthcare space grow their businesses safely and strategically through business insurance solutions (D&O, Medical Malpractice, Cyber Liability, etc.) in ways that generalist brokers cannot.

In this episode you’ll discover:

• What the unique risks for digital health companies are
• Why your tech company might need medical practice insurance, or your practice’s telemedicine services might require errors and omissions coverage—and other surprising areas of risk in the digital health space
• Why your coverage should overlap and “talk to each other” in these complex scenarios so you don’t have gaps
• How multi-state telemedicine companies should evaluate insurance based on their complex needs
• How much you should expect to pay for this

Beracah is also Nixon Gwilt’s go-to resource for innovators when it comes to insurance needs (and every innovator needs insurance), so you won’t want to miss this conversation.

Quotables

“RPM companies are a great example with all 3 liability exposures: product, tech, and professional services.” Insurance for Innovators on Ep11 of @DecodingHealth1 w/ @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/

“There’s tremendous competition for virtual care providers and it’s a differentiator for companies adequately protecting those physicians” Insurance for Innovators Ep11 @DecodingHealth1 @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/

Recommended Resources

• Connect with Beracah on LinkedIn or send him an email
• We co-hosted a swanky rooftop happy hour at #HLTH2021 in Boston with Beracah this week. Stay tuned for our next episode where we’ll tell you all about the conference and what to expect in innovation in 2022—and we’ll share pics!

Join the Conversation

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About Your Hosts

Carrie Nixon and Rebecca Gwilt are partners at Nixon Gwilt Law, a healthcare innovation law firm exclusively serving Providers, Digital Health Companies, and Life Science Businesses seeking to transform the way we receive and experience healthcare. Find out more at NixonGwiltLaw.com.

This podcast is produced by Slice of Healthcare LLC.