malpractice insurance

[West14]

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hey guys- looking for moonlighting gigs and seems like some want you to have your own malpractice insurance. what is the best way I would go about doing this? thanks in advance

 

[sunlioness]

Are you a resident? If so, I'd only take moonlighting gigs that will cover this for you. It's really too prohibitive otherwise.

 

[Manicsleep]

I agree with Sun. I wouldnt do it. Make sure you are covered.
Actually the person you should really be speaking with is your training director.

 

[Anasazi23]

There are deep discounts for residents performing moonlighting in psychiatry. It's not too cost-prohibitive if you stay within the parameters of the discount policy.

The former APA-approved insurance was The Psychiatrists' Program:

http://www.psychprogram.com/

The APA recently dropped them as their "official" approved insurance carrier, and is now going with this company:

http://www.americanprofessional.com/psychiatry/index.htm

Both offer large discounts for part time, and in-training psychiatrists. You can call or have them send an info packet for your area in which you practice, and see the price lists. It's really not too bad.

 

[Manicsleep]

Thanks for your post.

Do you know the cost if you want to do 1 day a week psychotherapy only? If not I will eventually look it up once I get around to get this going but I was hoping someone knew the cost for a board certified psychiatrist.

 

[Anasazi23]

It will completely depend on the state and region in which you practice.

I live in Palm Beach County, FL. Full time 2nd year attending malpractice is around 5k. If I move down 20 miles to Broward or Miami-Dade county, it doubles. The point being, it's entirely controlled on where you live, and a few other factors.

You'll get a relatively quick response if you email an agent at either of the two companies and tell them your area of practice (location-wise). They'll then likely email you a packet of info, along with a price list of coverage options, tail vs. non-tail, occurrance vs. claims-made, claims made with pre-paid tail, etc, etc. They'll also break it down by training experience, part time, moonlighting, ECT vs. non-ECT, etc.

So, there are just too many variables to give you an estimate.

 

[Manicsleep]

I will look it up once I get close to starting the practice. I am still 5-6 months away at least.