A Plan For Retirement From The Practice Of Psychiatry-Books Pdf

A PLAN FOR RETIREMENT FROM THE PRACTICE OF PSYCHIATRY
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OUTLINE FOR PRESENTATION TO MPS MEMBERS ON ISSUES TO. CONSIDER WHEN PLANNING RETIREMENT FROM PRACTICE, 1 Requirements of the Board of Registration in Medicine for retirement. 2 Notifying your patients, 3 Notifying your employees. 4 Notifying the DEA and the DPH and disposal of controlled substances. 5 Arranging for the retention of patient and business records. 6 Notifying professional associations, 7 Professional malpractice carrier do you need tail insurance. 8 Planning for outstanding collections from individuals and insurance. 9 Sub letting your office space, 10 Consider options to resigning your medical license. 11 Who best to take responsibility for patient records after retirement. 12 Ethical responsibility for referrals of patients who need continuing care. 13 What s a reasonable amount of time to plan for your retirement. 14 Total retirement vs a phase down, 15 Advice on estate planning.
The presentation will include detailed discussions of the options for different. types of licenses available from the Board of Medicine how best to prepare for. informing your patients options for maintaining your records for the 7 years. post retirement your ethical responsibility for referring patients what is a. reasonable lead time to plan for your retirement and ways to plan for an. emergency closure of your practice just to name a few. 1 Requirements of the Board of Medicine, A An Application to Retire from the Practice of Medicine may be. accessed online from the Board s website at, mass gov eohhs docs borim physicians app retire pdf See. document attached In addition to the application you will also have. to submit a statement listing any present or future complaints against. you You must also agree to make your patient records accessible to. former patients and their successor physicians for a minimum of 7. years from the date of the last encounter or until a child patient. reaches the age of 18 whichever is the longer retention period Your. application and the above statement along with your wallet card must. be sent to the Board at 200 Harvard Mill Square Suite 330. Wakefield MA 01880, B Application to Return to Active Status may also be accessed at the. above website See document attached, C Alternatives to retiring your license are as follows. 1 Volunteer License which allows applicants who fulfill the. requisites for a full license to perform volunteer work as a. physician has certain limitations and is available to current and. former licensed physicians See Board regulation attached. 2 Administrative License may be issued to any person who satisfies. the educational and post graduate training requirements for a full. license and whose primary responsibilities are those of an. administrative or academic nature Such license does not include. the authority to diagnose or treat patients issue prescriptions. delegate medical acts or prescriptive authority or issue opinions. regarding medical necessity Administrative licensees are not. required to maintain professional malpractice insurance See. Board regulation attachment, 3 Temporary License may be issued by the Board for an Academic.
Faculty Appointment or for a Substitute Physician See regulation. 2 Notifying Your Patients, One of the most challenging aspects of a planned retirement from the. practice of psychiatry is informing your patients of your decision to retire. and making their transition to another treater as comfortable as. A When to Communicate Patients, There are no set in stone requirements on how or what you. communicate to your patients You do however have an ethical. duty to provide sufficient notice to your patients Depending on. whether your practice is limited to psychotherapy or. psychopharmacology a combination of both or whether you. treat very sick patients your notification strategy should mirror. your patient s needs Best practice would be to begin. notification as soon as you make the decision to retire but no. less than 9 months from your planned retirement date In rare. circumstances where your patient caseload is small and you are. comfortable with providing for their transfer a shorter period. may be acceptable Remember absent emergencies or, unforeseen circumstances your decision to retire does not. relieve you of your ethical duty to provide patients with. sufficient time for a transition to another treater otherwise. complaints for abandonment could surface, B How to Communicate to Patients. You have two modes of communication at your disposal The. first is verbal and the second is in writing To the extent possible. you should take advantage of both means Active patients. should be your first priority and in particular those patients. who may need the most hand holding during the transition. Notify them verbally about your decision to retire your time. frame and the fact that although you will make every effort at. referring them to a new psychiatrist insurance and availability. of psychiatrists may have an impact For patients seen inter. mittingly a letter will suffice Placing an advertisement in your. local newspaper announcing your retirement and listing contact. information for records transfer should also be considered. especially when you are unable to reach former patients. C What to Communicate to Patients, I have attached a sample letter that may be edited to conform.
to your specific practice You should avoid listing your specialty. on the envelope or letterhead so as to avoid the possibility. of a family member or friend who has access to your patient s. mail discovering for the first time that their family member or. friend is being seen by a psychiatrist, 3 Retention and Availability of Patient and Business Records. A The Board of Medicine requires that physicians retain all patient. records for a minimum of seven years from the date of the last. patient encounter that permits former patients and successor. physicians or treaters access to the records during this period If the. patient was a minor at the date of the last patient encounter the. physician must retain the records for a minimum period of seven. years from the date of the last patient encounter or until the date the. patient reaches the age of 18 years whichever is the longer period If. there is any question that there may be a law suit or complaint. against you you should consider retaining those records for a period. past the seven years So as to avoid any unforeseen circumstances. regarding complaints or threatened law suits you should consider. retaining access to your records for ten years from the date of last. B Your business records e g tax returns office bills payroll records. should be kept a minimum of 6 years unless otherwise advised by. your accountant or attorney, C Psychiatrists in sole or small practices who serve as the Keeper of. Records for their patients must arrange for access and transfer of. those records for at least seven years post retirement This can. become a major effort for those who have maintained paper records. over the course of their career in particular for those whose practice. has been primarily psychotherapy There are several options available. to you depending on the volume of your records, 1 You continue to be the keeper of records and respond to. requests in the same manner as you have when in practice I. would advise that you first separate your files into 2 categories. using the cutoff date of seven years destroy those records that. are beyond the seven year date NOTE for minors records refer. to 3 A above and maintain an alphabetical list of those records. that are within the seven year rule When destroying records. you should maintain a list of the records a sentence or two. about the patient and the date of last clinical encounter. 2 If you are unable or unwilling to continue to be the keeper of. the records you may wish to engage a friend or colleague who. is capable of providing the appropriate security and privacy. required by HIPAA and Massachusetts law As this would be a. professional undertaking you would have to ensure the. capability of the person to manage the task agree on a fee in. advance and factor in that charges would be made for preparing. the records which may reduce the overall cost of the. 3 The third option for record maintenance would be to engage a. professional records management company such as Iron. Mountain Private medical records management companies are. HIPAA and state law compliant and assume the total. responsibility of records management If you choose to engage. such a company the burden is on you to determine their. compliance with HIPAA and state law particularly regarding. mental health records As most private companies will calculate. the income derived from copying and forwarding records into. your overall costs the total cost for the 7 year period should. reflect such an offset, 4 IMPORTANT NOTE If you choose to have a third party maintain. your records for the required period of time you need to have a. written agreement to allow you access to any record you may. need to defend a complaint or law suit in the future. 4 Charges for Copying and Forwarding Records, At the current time allowable charges for the handling copying and.
mailing of records is as follows 22 32 base charge administrative 76. per page for the first 100 pages 39 per page for each page in excess of. 100 pages and actual cost of mailing You MAY NOT charge a patient if. the records are being requested by or on behalf of a beneficiary for the. sole purpose of supporting a claim under any provision of the Social. Security Act or any federal or state financial needs based program. 5 Notifying the DEA and the Massachusetts Department of Public Health. You are required to notify the DEA of your retirement requesting that. your DEA number be deleted from their system You must notify them in. writing at Boston Field Division JFK Federal Building 15 New Sudbury. Street Room E 400 Boston MA 02203 and the Massachusetts DPH Drug. Control Program 305 South Street 2nd Floor Jamaica Plain MA 02130. Prescriptions written by you prior to retiring your DEA or DPH certificates. continue to be valid, 6 Contact Your Malpractice Insurance Carrier. As the statute of limitations in Massachusetts for malpractice suits is 3. years from the date the injury with certain exceptions as explained. below you may still be exposed to a malpractice claim after retirement. for a negligent act that may have occurred while you were in practice. You need to inquire of your insurance carrier as to whether your. insurance is claims made or occurrence If you have a claims made. policy you may need to purchase tail insurance until the statute of. limitations and its exceptions expire The exceptions to the 3 year rule. include 1 minors who have until age nine if the date of injury occurred. prior to the child s 6th birthday 2 Situations where the patient could. not discover and could not have reasonably discovered within the 3 year. period then the law suit may be commenced within 3 years from the. date the patient had knowledge or sufficient notice that the injury was. related to the physician s treatment 3 The Statute of Repose imposes. an absolute deadline to medical malpractice claims regardless when the. patient discovers them, 7 Other Matters to Consider when Planning Retirement. A Review your office lease, B Notify insurance companies. C Notify professional associations and organizations. D Discuss retirement with accountant, E Review outstanding collections accounts receivable and disputed. F Plan to sell or donate office equipment, SAMPLE PATIENT LETTER NOTIFYING OF RETIREMENT.
Dear Patient, I am writing to let you know of my retirement from my medical practice as of. In planning for my retirement it is important to make arrangements for your continued care. Although I may not be able to refer you to another physician I will make every effort to do so. with your help I would ask that you contact your health insurance provider for a list of. physicians in your area that may be able to admit you into their practice In addition to your. health care insurer you may also wish to contact the Massachusetts Medical Society s. customer service line at, Once you have identified a new physician my office will need your permission to transfer. your medical records, Thank you for your understanding in this matter. on the envelope or letterhead so as to avoid the possibility of a family member or friend who has access to your patient s mail discovering for the first time that their family member or friend is being seen by a psychiatrist 3 Retention and Availability of Patient and Business Records A The Board of Medicine requires that physicians retain all patient records for a minimum of seven

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