PRMS Blog

Insurance and risk management consultation are service businesses. In any service business, the credentials of the people providing the service are essential. We work in a competitive environment; there are many companies that sell medical professional liability insurance. We believe our staff sets us apart from our competitors. For example, ten staffers are licensed as insuran ...

It’s one week after Memorial Day, and summer is upon us. Soon, most students will be on vacation, your patients’ schedules may be disrupted because of their own vacation plans or their need to take care of their children, your staff will be asking for time off, and even you will want to find a few days to escape. Here are a few things to think about: 1.  Let’s start with your o ...

It’s no secret that we value our insureds here at PRMS.   Designing and creating premium services that help our doctors sleep better at night is a top priority.  Through our website, we are pleased to be able to offer you on-demand access to countless resources, including updated policy information, risk management newsletters and articles, online courses for CME, news about na ...

Our underwriters and risk managers are often asked, “Do you cover telepsychiatry?”  As with all of life’s important questions, the only correct immediate answer is, “It depends.” Of course, no one should accept this as a final answer, so we proceed to ask several other questions before rendering our final decision.  First, let’s look at the basic definition of the term. When we ...

We’re offering a Risk Management Seminar in Las Vegas, NV, The Impact of Professional Liability Litigation on Physicians and Opportunities to Reduce Risk, on Friday, July 20, 2012. We believe the issue of litigation stress is an important one.  In this seminar, we help you with this issue.  Here’s the link to our website with details http://www.psychprogram.com/seminars/. You’l ...

I returned to the office yesterday from the 2012 Annual Meeting. While this meeting was unique in that we weren’t on the exhibit floor, we still had the opportunity to meet with many of our customers. I had the following thoughts, observations, and reactions (in no particular order). Thanks to everyone who made their way to our hospitality suite in the Ritz Carlton Hotel. We ha ...

Many of PRMS’ staff travel to meet our customers at exhibits, seminars, receptions and educational events.   Our customers get used to seeing their faces, and they become, collectively, the “face” of PRMS.  There are also PRMS faces you don’t see, but they are just as important to our operations. We would not be successful without them. Spring is one of our busiest times of the ...

Sooner or later, almost every resident is going to consider working a few hours a week in a setting completely separate from his or her training program. But we also know that some doctors in salaried employment (academia, government agencies, administrative positions, etc.)  want to moonlight in clinical work. In our experience, many “moonlighters” don’t plan for covering thei ...

(At least about liability insurance.) I have mentioned more than once that while PRMS staff always welcomes the opportunity to speak to groups of psychiatrists in all stages of practice, we particularly welcome the chance to speak with residents. We believe that good advice early in one’s career can ease the transition to practice, reduce the anxiety that it creates, and help t ...

Professional education of all kinds today (medicine, law, accounting, etc.) is focused on providing students with exposure to the professional information they need to succeed. Unfortunately, there’s little time left to expose them to the very practical information they need to use their expertise to make a living. For example, many lawyers, after three years in law school, bar ...