Giving up license

Here's my scenario: Given the fact that managed care has just about wrung all the money, to say nothing of the fun, out of private practice, I have begun to give up taking insurance or managed care referrals. Instead, I am increasingly doing all private pay work, with reasonably good success so far.

Since I can predict that I soon will be free of third-party pay, I am thinking of giving up my psychologist's license. My attorney says it only provides me greater liability and not much else. Here in California, the malpractice is really high and I can get general liability insurance as a "consultant" for a good deal less. In terms of professional identity, most of my clients don't seem to know or care what my title is. I don't really do anything that requires a license, like court work. It seems to me it might be a wise move, particularly in today's litigious society.

Comments?

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