 |
 |
|
|
This column is provided as a service to the membership by the Psychiatrists' Purchasing Group Inc. (PPG), operator of the APA-sponsored Professional Liability Insurance Program.
Q. I have a full-time practice but will be decreasing the hours I see patients to approximately 10 hours a week. Additionally, I will probably spend another eight hours documenting medical records and consulting with other health care providers. I have my medical malpractice insurance through the APA-sponsored Professional Liability Insurance Program. Some medical professional liability insurance companies offer premium reductions for psychiatrists who practice part time. Am I eligible for a premium discount when I reduce my hours?
A. Because of the limited liability exposure, the APA-sponsored Professional Liability Insurance Program offers a reduced premium to participants if their total practice time is fewer than 20 hours a week.
The total practice time for which you are considered includes direct patient care, consultation with other health care providers, completion of medical records, medical research, and any other ancillary activities related to the care and treatment of your patients. As a participant, you should contact your program underwriter directly to learn more about this discount. You can find your state's underwriter by visiting the program's Web site at Q. I have recently completed a child and adolescent fellowship and will be purchasing medical malpractice insurance for the first time. Does the APA-sponsored Professional Liability Insurance Program offer a discount to psychiatrists beginning a practice for the first time?
A. The APA-sponsored Professional Liability Insurance Program offers a 60 percent (maximum) discount on your premium in your first year of practice (50 percent in New York). Furthermore, those in their second year of practice are eligible for a 40 percent discount and those in their third year of practice are eligible for a 35 percent discount (not available in New York). In addition, you are eligible for a 30 percent rate reduction (15 percent in New York) for completing a two-year fellowship in child and adolescent psychiatry that has been approved by either the Accreditation Council for Graduate Medical Education or the Royal College of Physicians and Surgeons (Canada) and/or for certification in child and adolescent psychiatry by the American Board of Psychiatry and Neurology or the Royal College of Physicians and Surgeons.
For more information, visit the APA-sponsored Professional Liability Insurance Program's Web site at www.prmsva.com or call (800) 245-3333, ext. 389.
APA welcomes the opportunity to hear from you about APA-sponsored benefit programs. Send your questions on the APA insurance and special benefit programs to At Your Service, Psychiatric News, APA, 1000 Wilson Boulevard, Arlington, Va. 22209-3901.