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Leaving Practice During the Era of Covid-19

June 5, 2020
TO OUR POLICY HOLDERS:

The impacts of the COVID-19 virus will cause some physicians to make changes to their practice situation by seeking a position at a new practice, transitioning to a job that does not involve patient care, or choosing to retire. Regardless of the type of change, physicians must meet certain obligations when leaving or selling a practice. OMIC’s Leaving practice toolkit outlines the steps physicians and practices need to take to promote continuity of care, prevent allegations of abandonment, and preserve the medical records. Preparing for the change will help decrease the associated stress and the likelihood of lawsuits.

Contact OMIC’s Risk Management department if you have questions by calling 1-800-562-6642 and enter “4” for Risk Management, or email us at riskmanagement@omic.com

We are committed to supporting you, our insureds, through this challenging time. Please remain safe

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Consistent return of premium.

Publicly-traded insurance companies exist to make profits for shareholders while physician-owned carriers often return profits to their policyholders. Don’t underestimate this benefit; it can add up to tens of thousands of dollars over the course of your career. OMIC has one of the most generous dividend programs for ophthalmologists and has returned more than $90 Million to our members through dividends.

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