After sending out your official notice to patients, you will likely experience dramatic increases in appointment requests from patients who want to discuss their health concerns, plan or talk through options for continuing care, or just to say goodbye. It may be beneficial to plan ahead with staff and develop responses to anticipated questions. Remember that, for some patients, ending the physician–patient relationship will be an emotional experience, and appointments may take longer than usual. You should plan for additional time to reflect this need.
Covering Your Tail
The timely notification for all individual organizations affected by your departure is an important step to ensure a smooth transition. Malpractice carriers should be consulted first. You should have adequate coverage of all claims that are filed after your departure, and you may need to obtain a supplemental policy, or tail coverage, to insure you for claims made after your employment is formally terminated. Tail coverage usually costs between 1.5 to 2 times a physician’s annual premium, and you will most likely be responsible for securing this policy, so be prepared for this expense. If you will be moving directly to a new practice, try to negotiate tail coverage into your employment contract. Many employers will provide tail coverage or may be able to provide coverage with a retroactive endorsement date.
Planning to leave your practice is an inevitable part of the career cycle. Whether you are leaving to enjoy retirement or to pursue another endeavor, it is important to plan and execute your departure well. For more information on issues relating to the cessation of practice, contact Itara Barnes at [email protected], or visit ACR’s Rheumatology Career Center.
