PRMS 2023 Risk Management’s New Year Resolutions

Yes, it’s already that time of year again! If you’re like most busy psychiatrists, you may not yet have had a chance to implement last year’s risk management resolutions, or maybe even those of the year before that. Don’t worry – we’re not here to make you feel bad. In fact, this year we’re recommending a slightly different approach. Rather than looking at ways to improve your practice, we think this year’s resolutions should center around your most important risk management resource – you. And to make it as stress-free as possible, we’re suggesting 12 resolutions so you can aim to do just one each month rather than try to implement them all at once. Get a kick-start on the first quarter of the year with our first three risk management resolutions for 2023 below!

1. Plan some time away from your practice.

Planning ahead is important - it not only helps to ensure that you will actually get away, but it also gives you time to obtain any necessary coverage and prepare patients for your absence.  For suggestions on how to make time away pleasurable instead of problematic see our article, "Practical Pointers While on Vacation." 

2. Consider whether it’s time to get some help.

Particularly if you are an early career psychiatrist who has not yet established a full practice, you may be trying to go it alone, taking on the additional duties of billing, scheduling, administrative support, HIPAA privacy officer, etc., all in addition to seeing patients. Perhaps you have more patients than you can comfortably handle and would benefit from employing a nurse practitioner or a PA. When adding someone new to your practice in either an administrative or clinical capacity, you will want to take time to thoroughly vet your candidates, so don’t wait until you are so overwhelmed that you feel compelled to hire someone who is less than ideal for the position. For an overview of risks and how to avoid them see our article, "Supervision of Nurse Practitioners." 

3. Get familiar with your professional liability insurance company.

You already know that your carrier is there to protect you in the event of a claim or a lawsuit but are there other things they can help you with?  It’s good to know ahead of time what additional services they offer so you know who to turn to when a problem arises.  Even if your carrier cannot assist you with a particular issue, they may be able suggest other resources. Make sure you have contact information for your carrier’s underwriting, claims, and risk management departments.  

Access all twelve of our risk management resolutions for 2023 on our website here.

To learn more about the superior psychiatry-specific insurance program and comprehensive services offered by PRMS, click here.

Authored by PRMS.