Saturday, Oct. 29
14:30 – 15:30 (1 hr)
Meeting Room: Linden (Mezzanine)
Renata Villela*, MD, FRCPC, Aditya Nidumolu, MD
Supported by the Members-in-Training & Fellows’ Section
At the end of this session, participants will be able to: 1) Describe the benefits and challenges of managing a private practice; 2) Discuss the pros and cons of buying versus starting a private practice; and 3) Identify the steps involved in setting up a private practice, as well as resources available to support this process.
Canadian psychiatry residency programs primarily operate in hospital settings. Consequently, many trainees and psychiatrists in practice might have little to no exposure to private practice psychiatry. It is estimated that approximately 26% of psychiatrists in Canada work primarily through a private office. This figure does not include the multitude of psychiatrists who work privately part-time (in addition to their work in other clinical settings) or those who receive remuneration for non-clinical work, such as consulting or educational activities. This workshop will introduce psychiatrists and trainees to some of the unique benefits and challenges of working in private clinical practice. Attention will be paid to best practices psychiatrists can follow while setting up a private practice, as well as subsequent management principles.
- Lazarus JA, editor. Entering Private Practice: A Handbook for Psychiatrists. Washington (DC): American Psychiatric Association Publishing; 2007.
- Canadian Medical Association. Psychiatry profile [Internet]. Ottawa (ON): Author; 2019 [cited 2021 Dec 1]. Available from https://www.cma.ca/sites/default/files/2019-01/psychiatry-e.pdf.