Common mistakes in insurance planning on your own

As a physician, do you recommend patients self-diagnose or self-treat?


As a physician, do you recommend patients self-diagnose or self-treat? Is this effective or the best use of a patient’s time and effort? Do self-diagnosis and self-treatment often have negative outcomes? The answers to these questions may seem obvious, yet too often physicians do not follow their own advice. There is a saying from a prolific business consultant, Peter Drucker, which applies to this topic, “Do what you do best and outsource the rest.”

Your financial health and, more specifically, your insurance planning, is a great example of an area where you should be consulting with experts. The implications of not doing so can range from minor losses to devastating effects. Examples include: 
•    Paying too much for your insurance coverage due to having more coverage than you need.
•    A surviving spouse losing the family home as a result of there not being enough life insurance in place on the deceased spouse.
•    Having to postpone retirement due to not having critical illness insurance.
•    Having to dip into investment accounts to cover unanticipated costs.

Many factors are considered when working with physicians on their insurance planning. During a review meeting we discuss your personal, family, and professional situation. Once we have a full picture of you, recommendations are made that best suit your particular situation. Working with a professional who understands the physician market is very important as there are some products, benefits, and discounts available that are unique to physicians.

Please schedule a meeting to review your insurance with a professional once every 2 to 5 years or whenever you have a major life event (e.g., marriage, birth of a child, home purchase, etc.).

Let insurance professionals work to ensure that you are protected, while you focus on what you know best—medicine.
—Channelle Sawyer, BA
Insurance Advisor, Doctors of BC

Channelle Sawyer. Common mistakes in insurance planning on your own. BCMJ, Vol. 59, No. 8, October, 2017, Page(s) 431 - News.



Above is the information needed to cite this article in your paper or presentation. The International Committee of Medical Journal Editors (ICMJE) recommends the following citation style, which is the now nearly universally accepted citation style for scientific papers:
Halpern SD, Ubel PA, Caplan AL, Marion DW, Palmer AM, Schiding JK, et al. Solid-organ transplantation in HIV-infected patients. N Engl J Med. 2002;347:284-7.

About the ICMJE and citation styles

The ICMJE is small group of editors of general medical journals who first met informally in Vancouver, British Columbia, in 1978 to establish guidelines for the format of manuscripts submitted to their journals. The group became known as the Vancouver Group. Its requirements for manuscripts, including formats for bibliographic references developed by the U.S. National Library of Medicine (NLM), were first published in 1979. The Vancouver Group expanded and evolved into the International Committee of Medical Journal Editors (ICMJE), which meets annually. The ICMJE created the Recommendations for the Conduct, Reporting, Editing, and Publication of Scholarly Work in Medical Journals to help authors and editors create and distribute accurate, clear, easily accessible reports of biomedical studies.

An alternate version of ICMJE style is to additionally list the month an issue number, but since most journals use continuous pagination, the shorter form provides sufficient information to locate the reference. The NLM now lists all authors.

BCMJ standard citation style is a slight modification of the ICMJE/NLM style, as follows:

  • Only the first three authors are listed, followed by "et al."
  • There is no period after the journal name.
  • Page numbers are not abbreviated.


For more information on the ICMJE Recommendations for the Conduct, Reporting, Editing, and Publication of Scholarly Work in Medical Journals, visit www.icmje.org

BCMJ Guidelines for Authors

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