APA-Endorsed Program Offers Cost-Effective Features

Q.I am interested in obtaining insurance that would cover defense costs incurred as a result of a medical license board hearing or similar procedure. Does the Psychiatrists’ Program, the APA-endorsed Professional Liability Insurance Program, offer this type of coverage?

A.The Psychiatrists’ Program’s policy provides both administrative and governmental billing defense coverage with limits of $50,000/$100,000 at no additional premium cost. Coverage includes legal expenses associated with preparing a legal defense for both administrative and governmental billing and coding error actions. Furthermore, if an action is brought forth, participants have access to a team of experienced defense attorneys who understand the intricacies of mental health practice.

Q.My medical malpractice insurance coverage is through the Psychiatrists’ Program. I am interested in earning the 5 percent risk management education premium discount. What CME-accredited seminars does the Psychiatrists’ Program have scheduled for this year? Can I attend a non-program seminar and still earn the credit?

A. Participants of the Psychiatrists’ Program who attend an approved accredited risk management seminar are eligible for a 5 percent premium discount. The Psychiatrists’ Program can be the sponsor of the seminar or you can attend one sponsored by another organization but approved by your underwriter. The first seminar sponsored by the Psychiatrists’ Program is scheduled for April 12 in Albany, N.Y., at the Desmond Hotel and Conference Center. The next seminar is scheduled for June 27 in New York City. To obtain more information on the seminars or to register, please contact Cynthia Smith by phone at (800) 245-3333, ext. 347, or by e-mail at [email protected].

Additionally, you may be eligible to earn the 5 percent discount with the home-study Self-Evaluation Tool (SET). SET allows participants to increase their risk management skills at their own pace. Participants who receive satisfactory results, based on the program’s criteria, will be eligible for a premium discount. SET consists of four case scenarios that incorporate risk management topics frequently encountered in the practice of psychiatry. There are several multiple-choice questions related to each case scenario. When answering the questions, you should read and refer to the manual “Legal and Risk Management Issues in the Practice of Psychiatry.”

If you have any questions about SET, please contact the Psychiatrists’ Program by phone at (800) 245-3333 or e-mail at [email protected].

Q.I am in my last year of residency and will need to purchase malpractice insurance. Currently, I have moonlighting coverage with the Psychiatrists’ Program and receive a 50 percent discount. Are there any premium discounts offered for early career psychiatrists in the first years of practice?

A. The Psychiatrists’ Program offers a three-year discount to early career psychiatrists as follows:

• First year: 60 percent (50 percent in New York)

• Second year: 40 percent (not available in New York)

• Third year: 35 percent (not available in New York)

The program also offers these same discounts to psychiatrists following discharge from active military duty. Other discounts may apply, such as the 30 percent (15 percent in New York) child and adolescent premium reduction.

This column is provided as a service to the membership by the Psychiatrists’ Program, the APA-endorsed Professional Liability Insurance Program. Send your questions to [email protected].

More information on the Psychiatrists’ Program is available by contacting Leslie Cummings, PRMS member services representative, by phone at (800) 245-3333, ext. 389, or by e-mail at [email protected]. ▪