UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association

Page created by Terry Hodges
 
CONTINUE READING
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
UTAHPHYSICIAN                                                     JUNE | JULY 2021

                                                    MENTAL
                                                    HEALTH:
                                                    FINDING
                                                    A PATH      page 6

                                                    FORWARD

              PHYSICIANS: PREPARE                      PRIOR AUTH HASSLES CAUSE
                BEFORE A MENTAL     HOLDING SPACE
                                       page 14          TOO MANY CARE DELAYS
                 HEALTH CRISIS                                  page 18
                    page 12
utahmed.org
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
Trust the
specialists.
Helping physicians
reach their financial
goals since 1993.

Entrust your financial goals
to an organization dedicated
to physicians. At UMAFS,
we understand the unique
circumstances of school loans,
insurance needs, career
changes, family and retirement
goals. Take your financial
needs to the specialists.
Call us for a no-cost financial
analysis today.

C A L L 8 01 - 74 7- 0 8 0 0 O R V I S I T O N L I N E A T U M A F S . O R G
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
UTTAHPHY
      HYSIC
         SICIA
            IANN
                                                                               Utah Medical Association’s Bulletin is
                                                                               published 6 times per year for members
Features                                                                       of the UMA. All advertising, articles
                                                                               and editorials represent the views of
                                                                               the advertisers/ authors and do not

      6	
        Mental Health from Medical School to Medical Practice:
                                                                               necessarily reflect the official policy of the
                                                                               UMA. Copyright 2021.
                     Finding a Path Forward
		                   By Stuart Slavin, MD, Med
                                                                                            Editorial Board

      12             Physicians: Prepare Before a Mental Health Crisis
                                                                                        Wallace Akerley, III, MD
                                                                                         Brian J. Moench, MD
		                   Press Release from The Physicians Foundation                        Karen M. Radley, MD
                                                                                         Daniel R. Faber, MD
      14             Holding Space                                                      Carissa S. Monroy, MD

		                   By Lisa Weaver, MD                                                          Staff
                                                                                       Chief Executive Officer
      18             Prior Auth Hassles Cause Too Many Care Delays                 Michelle S. McOmber, MBA, CAE
		                   AMA Survey Results
                                                                                           Managing Editor &
                                                                                         V.P. of Communications
      20             Rebalancing- Portfolio Fixed Income Decisions                        Mark Fotheringham
		                   By Eric Halvorsen, MBA, CFP®, CIMA®
                                                                                             Editorial Office
      23	
         COVID-19 Public Health Emergency Extended; Telemedicine,                      Utah Medical Association
                                                                                    310 East 4500 South, Suite 500
                     Other Waivers Extended                                         Salt Lake City, Utah 84107-4250
                     Compiled by UMA staff from several sources                          Phone: (801) 747–3500
                                                                                           Fax: (801) 747–3501
      24             Help Available on Complying with Info Blocking Rules            E-mail: mark@utahmed.org

		                   Adapted from several AMA sources                                          Publisher
                                                                                         Mills Publishing, Inc.
      25             UMA Members in the News                                                   President
                                                                                               Dan Miller
                                                                                          Office Administrator
                                                                                           Cynthia Bell Snow
Departments                                                                                    Art Director
                                                                                              Jackie Medina
                                                                                           Graphic Design
                                                                                     Ken Magleby, Patrick Witmer
      4              President’s Message
                                                                                              Sales Staff
		                   By Sharon RM Richens, MD                                    Paula Bell, Dan Miller, Paul Nicholas

      26	
         Utah Health Status Update
                                                                                      Utah Physician is published by
      28             CME Calendar
                                                                                           Mills Publishing, Inc.
                                                                                      772 East 3300 South, Suite 200
                                                                                        Salt Lake City, Utah 84106
                                                                                              801–467–9419
                                                                                           info@millspub.com
                                                                                              millspub.com

                                                                                        Inquiries concerning
                                                                                   advertising should be directed to
                                                                                        Mills Publishing, Inc.

Cover Photo Credit: Photo licensed by Ingram Image. Design by Patrick Witmer
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
PRESIDENT’S MESSAGE

                                                                                             contagious. We are thrilled to see less flu,
                                                                                             RSV, and common cold. This preserves
                                                                                             days in school for our children and at
                                                                                             work for adults.

                                                                                             It has been interesting to see re-entry
                                                                                             angst among many of my older patients
                                                                                             and colleagues. A little statistics refresher
                                                                                             regarding the real current risks of
                                                                                             exposure and illness, with vaccine status
                                                                                             and local community prevalence in mind,
                                                                                             has been helpful in some cases. Believe

PRESIDENT’S                                                                                  it or not, even if it’s decades old and in
                                                                                             need of dusting off, your math and stats is
                                                                                             better than most. Some have internalized

MESSAGE
BY SHARON R.M. RICHENS, MD, UMA PRESIDENT
                                                                                             “the fear” or are having trouble shaking off
                                                                                             the blues, others just got used to the quiet
                                                                                             life alone indoors and learned to like it,
                                                                                             along with online shopping.

S
        ummer greetings! Regarding            the wary and skeptical among your              The second defining feature of this
        COVID19, we seem finally to be in     patients, staff, family, and friends to be     UMA year has been the scope of
        the bottom of the ninth inning,       vaccinated. Tell them what you know            practice discussions. The PAs want to
hallelujah and yet not quite amen. With       and be candid about what we really do          practice independently, as NPs do, and
nearly half of our eligible Utah population   not know. If you have war stories about        pharmacists, optometrists, podiatrists,
vaccinated, the reprieve from masking         patients you have cared for, or your own       physical therapists, and…and…. and
and social distancing without an upshot       COVID19 illness, please share. Sharing         the question begs, with an alternative
in ICU census has been most welcome.          is therapeutic even if they never pursue       pathway to primary care, why bother
I would like to extend a special thanks to    vaccination. I am hopeful that FDA             going to medical school? Will for-profit
the “first responders” in our midst, those    approval for the vaccines will come in         and online DO, NP, PA and other programs
of you who work the ERs, Instacares, and      September, without a fall surge.               usurp the role of university medical
primary care clinics, who were willing                                                       schools? What does this mean for the
to risk your own health to protect public     The CDC still recommends that masks be         character, tone and timbre of medicine
health, and individual patients. I would      worn by everyone in health care settings       and patient care? For patient safety? For
especially like to thank the “tertiary        through September 13, 2021, even if they       MDs of DOs? Will MDs and DOs be able
responders” in our ICUs who helped            are fully vaccinated, and especially if they   to practice independently anymore, or
those most-afflicted through all stages       are not vaccinated yet. This is also true in   only as part of an institutional team? (For
of this pandemic. It goes without saying      transportation hubs and transportation         some this is a multigenerational set of
that as physicians we recognize and are       venues. Please encourage and post              questions as our children consider their
grateful for all the frontline nurses and     “masks are always welcome” for anyone          choices in medicine, or not.)
staff, in hospital and clinic settings, who   concerned or at risk, especially those
make what we do possible.                     who are immunosuppressed by health             Student debt is already a driving factor
                                              conditions or prescription medications,        in choice of specialty and practice mode
As schools shutter for summer and masks       and those who have non-COVID                   for MDs training in traditional allopathic
come off, please continue to encourage        respiratory conditions that may be             programs. Why would we expect this

4          JUNE | JULY 2021                                                                                             UTAH PHYSICIAN
                                                                                                                        Still the Greatest Profession.
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
PRESIDENT’S MESSAGE

to be any different in these alternative       are enough? By type of training, or      your engaged participation, medicine is
(and often for-profit) programs with           by specialty?                            and can continue to be richly satisfying.
equally high tuition? These programs                                                    The Utah Medical Association is here
have no obligation to ensure residency         Is there an infinite supply of student   to serve physicians and advocate to
or employment for the graduate, and            loan money for aspiring medical and      legislative and regulatory decision makers
the for-profit business model of the           health science students?                 whatever comes, and we are stronger for
program drives them to produce as many                                                  every well-informed and vocal physician
“tuition-paid” “graduates” as possible.        How do you define and discern quality,   who engages.
The argument for expansion of scope            or safety?
is usually “access” in “rural” areas, but                                               Happy Spring! May it be full of sunshine,
provider service distribution doesn’t          How super-specialized can a              warm embraces and renewed will to fight
actually change after an expansion of          smart multiple-fellowship-trained        the good fight on behalf of our patients
scope of practice, unless the arrangement      practitioner be without getting bored    and one another.
is an enforceable contract.                    to death after ten, or twenty years
                                               within that super-specialized “scope”    Yours,
   How do patients discern the                 or “turf”?
   differences in our alphabet soup?                                                    Sharon R.M. Richens, MD
                                            Thank you to all who participated in the    UMA President
   Who decides how many providers           legislative session in any capacity. With

                                                       Infectious Disease
                                                        in Primary & Specialty Care 2021
         Keynote Lunch Speakers                        76th Annual CME Conference
                                                       Petronella Adomako, MD, Presiding

                                                       save the date!                                     21.50
                                                                                                         CME?!?!
      Sarah L. Berga, MD   Kristen Ries, MD, MACP
                                                       October 6, 7, & 8, 2021
                                                                                                           YES!
                                                       In person, streamed, and recorded

                                                       ✓ Most inexpensive CME multi-day conference
                                                       ✓ Longest ongoing medical meeting in the Western U.S.
                                                       ✓ Designated for AMA
                                                         CME 21.50 AMA  PRA PRA Category
                                                                            Category     1 Credit(s).
                                                                                     1 Credit(s)™

                                                       Questions? Contact Teresa Puskedra at 801-564-5585 or
       RJ Bunnell, MD      David M. Oshinsky, PhD      email teresapuskedra@ogdensurgical.com
                                                       View list of topics and register at www.ogdensurgical.com
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
FEATURE

                                                              MENTAL
                                                              HEALTH FROM
                                                              MEDICAL
                                                              SCHOOL TO
                                                              MEDICAL
                                                              PRACTICE:
                                                              FINDING A
Image licensed by Ingram Image                                PATH FORWARD
                                                              BY STUART SLAVIN, MD, MEd

    As individuals cultivate skills to promote their own satisfaction and well-being, efforts must also be made to improve the clinical
    and learning environment.

ABSTRACT                                       problems.1-4 Mental health challenges          sufficient in the midst, and aftermath, of
Medical students, residents, and               from the COVID-19 pandemic have                this pandemic.
practicing physicians experience               added new stressors—professional,
high burnout, depression, and suicide          personal, and financial—for many.5,6           A PATH FORWARD
rates, and the COVID-19 pandemic               Uncertainty—often a primary source of          A number of foundational principles
has exacerbated stress for many.1-6            anxiety—has never been greater for so          can inform approaches to a looming
While laudable, current well-being             many of us. While significant numbers          mental health crisis for physicians and
efforts appear insufficient to meet the        of medical schools and medical centers         trainees. First, we tend to conceive
challenges that so many are facing.            have ramped up their mental health             of well-being and mental health as
This essay explores approaches that            services in recent months, these are not       binary—you are depressed or you
individuals and organizations can take         likely to meet the mental health needs         are not; you are burned out or you
to promote mental health and well-being        of trainees and physicians in the face         are not. This is not accurate, and not
from medical school to practice.               of widespread, unprecedented levels            particularly functional, because these
                                               of stress and traumatic exposure in the        conditions all exist along a continuum.
INTRODUCTION                                   healthcare setting. Using a treatment          Second, well-being may not be the best
Medical student, resident, and physician       model, rather than a preventative model,       primary goal for our efforts. Instead,
mental health has been the focus of            to meet the mental health needs of             a more reasonable goal may be to
growing concern in recent years as it          physicians was not sufficient pre-COVID        increase satisfaction with your work,
becomes increasingly clear that burnout,       as burnout and depression rates remain         your life, and, for some, yourself. The
depression, and suicide are serious            stubbornly elevated— and it will not be        goal should then be to help people move

6                JUNE | JULY 2021                                                                                        UTAH PHYSICIAN
                                                                                                                         Still the Greatest Profession.
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
FEATURE

up the continuum no matter where they        found in physicians can contribute               Impostor phenomenon: the feeling
are, so that if you are fairly satisfied,    substantially to personal distress               that you are incompetent, that you are
perhaps you can become very satisfied;       and mental illness. We need to help              a fraud, and it is only a matter of time
and, if you are extremely dissatisfied       physicians and trainees develop skills to        before other people discover this.
perhaps you can become moderately            recognize and address these damaging
dissatisfied. This, for many, will feel      mindsets and patterns of thinking.               Personalization and self-blame: the
more attainable than reaching some                                                            tendency to place complete blame on
magical state of well-being. Our focus       MINDSETS AND                                     yourself when things don’t go well.
cannot only be on those who meet a           THOUGHT PATTERNS
clinical diagnosis of depression or          Common physician mindsets that                   Feelings of guilt and shame:
anxiety, or those who meet criteria for      contribute to distress can be categorized        Thoughts of imperfection and self-
burnout; our approach must target            into three main clusters. These mindsets         blame can contribute to self-critical
those from across the continuum.             often have been acquired on the long and         thoughts and feelings of guilt and
Third, it’s important to note that           arduous path to becoming a physician,            shame, often adding substantially to
encouraging physicians to work on            and people should feel no shame or guilt         personal distress.
their resilience comes with risks. Many      if they have them. Like well-being, they
physicians feel they are very resilient,     exist along a continuum that is fluid and        Hiding vulnerability and distress:
and rightly so.7 They tolerate enormous      subject to change with circumstances             many physicians and trainees tend
demands and pressures, working               and environment. These mindsets are              to hide their distress which can then
heavy hours, and they show up to             not always dysfunctional in moderation,          create the impression that others
work, take care of their patients, and       and they even may have contributed to            are doing fine. This can lead to
complete their charting. While this is       many physicians’ success along their             individuals’ belief that they are the
true, this is only one kind of resilience,   academic paths. Cognitive psychologists          only ones struggling.
what I term survival resilience. But         have documented many of these mindsets
there is also another form of resilience     in terms of automatic thoughts and            The second cluster of mindsets is
which is a thriving resilience, and          cognitive distortions.9                       characterized by negative mood or
this also exists along a continuum.                                                        affect—cynicism, negativity, and
What is exciting is that there are easily    The first cluster of mindsets is the          pessimism—that are understandable
teachable, learnable skills that anyone      largest, and it consists of mindsets that     given the professional and emotional
can use to cultivate this latter form        are characterized by a self-critical voice.   challenges in medicine. While
of resilience. Fourth, because many                                                        understandable, these mindsets
physicians have limited time to learn           Performance as identity: the               can fuel personal dissatisfaction
and practice time-consuming well-               tendency to view your performance—         and diminish well-being both in the
being practices, the tools we offer             whether academic in school, or             workplace and at home.
to support physician mental health              professional as a physician—as your
and well-being may have greater                 identity and worthiness. If you make       The final cluster consists of two
impact as they require little time to           an error, the thought process is often,    miscellaneous, but critically important,
use and learn. Still, this is largely an        “I’m a bad doctor and a bad person,”       mindsets and thinking patterns. The
environmental health problem, rather            rather than “I made an error.”             first is having a fixed mindset rather
than an individual one.5 Finally, while                                                    than a growth mindset. Fixed mindsets
this piece focuses largely on individual        Maladaptive perfectionism: a               have been associated most typically with
strategies, it does not remove the              condition where you set the bar so         cognitive ability10—namely, holding
obligation to work to improve clinical          unattainably high for yourself that        narratives such as “I’m not good at
and learning environments. And while            you are repeatedly disappointed            math”—but the same mindset presents
environmental factors are the main              in yourself. The key here is               around skills like resilience, and this
drivers of distress,8 individual mindsets       disappointment in yourself, not just       can inhibit personal growth. If a person
and patterns of thinking commonly               in your performance.                       has a fixed mindset around their own

utahmed.org                                                                                                  JUNE | JULY 2021         7
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
FEATURE

personal resilience, they will be less         COGNITIVE REFRAMING                         Albert Ellis, one of the fathers of
likely to become more resilient. The           We tend to go through life thinking         cognitive-behavioral therapies,
other problematic pattern of thinking          that an adverse event equals an adverse     introduced many helpful concepts for
involves automatic thoughts and                outcome—meaning that if something           challenging these types of thinking.14
cognitive distortions that can activate        bad happens, that is the personal           Cognitive reframing, also known as
other mindsets.                                outcome as well. This is not true; it is    cognitive restructuring, consists of
                                               an adverse event plus your cognitive/       three steps. First is to simply notice
These mindsets are common in medical           emotional reaction that equals the          your thoughts. This requires having
students, residents, and physicians            outcome.13 We all suffer from distorted     some skill in mindful awareness, which
and can contribute to both personal            reactions or automatic thoughts that        I will outline next. Second is to label
distress and mental illness. A study           can contribute to distress, but there       the thought—whether a mindset or a
that I led of first-year medical students      are concrete steps we can take to gently    cognitive distortion—to recognize that
found that those who screened positive         reframe them. Following are some of         you are, for example, magnifying, or
for maladaptive perfectionism or               the most common automatic thoughts:         are thinking in perfectionistic terms.
impostor phenomenon were more                                                              The third step is to try to dispute the
likely to have feelings of inadequacy,            Magnification: taking a relatively       thought distortions. There are many
embarrassment, or shame about their               small event and blowing it up into a     options for disputing strategies, but
academic performance.12 Those who                 much bigger problem.                     the following two are particularly easy
experienced these latter feelings were                                                     to understand and to use. The first
significantly more likely to screen positive      All or none thinking: either getting     is to simply examine the evidence
for depression and anxiety. The good news         the result you wanted or feeling like    there is to support the thought, and
though is that every one of these mindsets        a failure.                               the evidence there is against it. For
is changeable through the cultivation of                                                   example, some medical students who
simple techniques of metacognition and            Tunnel vision: focusing on one           perform poorly on an exam can feel
mindful awareness.                                negative event and ignoring or           “stupid.” The evidence that they are low
                                                  discounting the many positive ones.      in intelligence is non-existent; they
METACOGNITION                                                                              are in medical school, and there are a
Metacognition is simply the ability               Overgeneralization: seeing a             whole host of reasons why someone
to examine your thoughts and to                   negative event as part of a pattern of   would not perform well on an exam.
change to be more accurate and                    bad things that always happen to you.    The second approach, called the double
beneficial to your mental health. The                                                      standard, is one that I find particularly
most important metacognitive skill                Fortune-telling: predicting a future     illuminating and helpful. Here is an
is cognitive reframing, the basis for             outcome with certainty.                  example. Let’s say a colleague comes up
Cognitive Behavioral Therapy (CBT).                                                        to you and says, “I feel terrible, I didn’t
CBT is the preferred treatment for                Mind-reading: feeling like you know      know the answer when I was asked a
anxiety disorder and panic attacks,               with certainty what another person       simple clinical question by my boss
helpful for depression, and useful for            is thinking. For example, when           today.” Would you say to them? “Well,
addressing maladaptive perfectionism              a colleague passes in the hallway        you’re stupid. You’re not cut out to be
and/or impostor phenomenon.                       and looks up and frowns, we create       a doctor.” Of course not (or at least I
Unfortunately, we usually don’t teach             narratives that we must have done        hope not!). The goal in countering the
these skills until someone has already            something to offend the person and       double standard is to extend the same
developed clinical depression or anxiety          they are angry at us.                    compassion you have toward other
and seeks support from a therapist.                                                        people to yourself.
The key to preventative mental health             “Should” statements: second-
care is learning these skills before many         guessing yourself when the outcome       Metacognition can also help in
mindsets, cognitive distortions, or               isn’t ideal by thinking “I should have   managing future oriented worries,
emotions culminate in mental illness.             done this; I should have done that.”     fears, and anxieties. A common and

8           JUNE | JULY 2021                                                                                         UTAH PHYSICIAN
                                                                                                                     Still the Greatest Profession.
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
FEATURE

understandable worry and fear that         mortality rate below 1%, with child         A key principle here is that the goal is
clinicians may have in the midst of        mortality rates even lower. Therefore,      not to eliminate thoughts and worries.
the pandemic is that they may get          even if you or they become infected,        Rather, it’s to hold them gently—to
ill, or that they may bring COVID-19       the great, great likelihood is that you     work with them so they will cause you
home to their spouse, children, and/       will recover and your family members        less suffering and harm.13
or other family members and that           will too. In addition to managing
they could get sick and die. These are     these understandable fears, you also        MINDFUL AWARENESS
completely understandable fears to         can move to the strategic. What can         The second essential skill to develop is
have, and they may feel terrifying or      you control? Do everything you can to       mindful awareness. One needs to be
even debilitating.13 The question is       reduce the risk that you and your family    sufficiently present and aware to notice
not how to completely eliminate or         members will get infected. Be vigilant      thoughts and feelings in order to be
suppress these feelings, but rather how    about protecting yourself. Change of        able to work with them. The classical
to manage these thoughts to decrease       clothes, a serious hand wash before         approach to becoming more mindful
distress. One way of framing: yes, that    you leave the hospital, hand wash when      has been meditation, and numerous
reality that is possible, but how likely   you get home, and continued social          courses and apps are available for this.
are certain outcomes? Even though          distancing outside the home are things      Meditation works, but in my experience
you may face a relatively high risk of     within your control. Optimizing sleep,      relatively few physicians are willing
getting the infection, it is very likely   nutrition, and exercise can boost your      or able to incorporate regular formal
that you will recover.13 Those less than   immune system and decrease the              meditation practices in their lives. I
60 years of age without underlying         likelihood of an adverse outcome from       have given talks to audiences across
medical conditions appear to have a        COVID-19 should you become infected.        the country and have asked physicians

                                                                                  Our healthcare professionals can
                                                                                  help you navigate the increasingly
                                                                                  competitive healthcare market
                                                                                  with solutions such as payor &
                                                                                  value-based contracting, quality
                                                                                  & value-based care strategies,
                                                                                  practice analytics, revenue cycle
                                                                                  enhancement, partnerships/
                                                                                  mergers, outsourced business
                                                                                  services, tax reduction strategies
                                                                                  and more. Get real insight from a

          INSPIRED
                                                                                  firm that cares as much as you do.

          TO INCREASE
          YOUR INCOME
                                                                                      What inspires you, inspires us.
                                                                                        801.456.5207 | eidebailly.com
UTTAAHHPHYSICIAN MENTAL HEALTH: FINDING A PATH FORWARD - Utah Medical Association
FEATURE

to raise their hands if they have a           stress, you can do it—even for a few        CHANGING THE CLINICAL AND
meditation practice of 15 minutes or          breath cycles—to calm your amygdala.        LEARNING ENVIRONMENT
more a day. I have never seen more than       To reduce activation of your limbic         As individuals cultivate skills to promote
3% raise their hands even in places like      system, be mindful of excessive caffeine    their own satisfaction and well-being,
California where meditation may be            consumption, as well as excessive           efforts must also be made to improve the
more in mainstream consciousness.             consumption of news and social media.       clinical and learning environment. In
Meditation works but if many are not          A study after the Boston Marathon           2009, Saint Louis University School of
likely to practice it due to time and         bombing found that those who had            Medicine embarked on a series of simple
effort, it may not be an optimal public       heavy consumption of media in the           changes designed to reduce pressure
health intervention for physicians            week following the bombing led to           on students—reducing class time and
unless we change the structural               higher acute stress levels than those who   curricular content, freeing time for
demands on their time. The good news          witnessed the bombing in person.13,16       elective opportunities, and changing to
is that you can become significantly                                                      pass-fail grading—that led to decreases in
more mindful (moving up a mindfulness         OTHER TOOLS IN A                            depression and anxiety of more than 80%
continuum) through informal practices         RESILIENCE TOOLBOX                          in pre-clerkship students.17, 18 The clinical
that take little or no time to employ.        Metacognition and mindfulness are           environment is more challenging to
There are a number of informal mindful        essential skills in finding greater         change, but conceptual frameworks
practices, but a simple one is to just        satisfaction with work, with life, and      from organizational psychology can
focus on one of your senses (auditory,        with the self, but there are other skills   guide action. A helpful model for this
smell, touch, or sight) for just 30 to 45     that can also be helpful in this quest.     merges the concepts from work by
seconds. As thoughts appear, just notice      I view these as forming a toolbox,          Christina Maslach and Daniel Pink,
them and return your attention to the         and you can choose tools that you feel      and includes eight main drivers of
sense you were focusing on. This can be       that you need most. The tools include       burnout in health care.19,20 They include
used as you are walking from one place        the following strategies: combating         the following:
to another, when washing your hands           negativity bias and pessimism,
before seeing a patient, or in a myriad of    cultivating positive emotions, emotional       Workload: not just how much, but
other activities.                             self-regulation, dealing with difficult        the qualities and characteristics of it.
                                              people, investing in well-being, avoiding
REDUCING LIMBIC                               learned helplessness, cultivating a sense      Rewards: not just financial,
SYSTEM ACTIVATION                             of generosity and gratitude, and finding       but whether and to what extent
During the COVID pandemic, the skill          meaning and purpose in life.                   a person feels appreciated
of reducing a sense of alarm and overall                                                     and valued.
limbic system activation is essential. A      The key with the toolbox approach is its
self-calming technique that has been          adaptability; some tools may be helpful        Control: transparency in decision-
proven effective in the military is called    for you, while others may not be—and           making and feeling like your voice
tactical breathing.15 Here’s how it works:    you can tailor your toolbox to fit your        matters.
                                              own specific needs. I do not use all of
Relax yourself by taking four breaths         the tools listed here, but some have           Community: sense of connection to
as follows. If you want, try to visualize     changed my life in recent years in ways I      others at work.
each number as you count. Breathe in          did not think was possible. You can find
counting 1, 2, 3, 4. Stop and hold your       more about the toolbox in a series of          Fairness: whether people are treated
breath counting 1, 2, 3, 4. Exhale counting   four podcasts produced by the ACGME            with fairness and equity.
1, 2, 3, 4. Repeat the breathing cycle.13     at https://www.acgme.org/What-We-
                                              Do/Initiatives/Physician-Well-Being/           Values: whether the organization
You can practice this as many times a         AWARE-Well-Being-Resources, and on             acts consistently with the values it
day as you would like, for just a minute      Spotify and other podcast platforms by         states.
or so. Then, when you are feeling acute       searching ACGME AWARE.

10         JUNE | JULY 2021                                                                                          UTAH PHYSICIAN
                                                                                                                     Still the Greatest Profession.
FEATURE

    Mastery: if effective and regular                    L, Sloan J, Shanafelt TD. Burnout among US              14.	Rational Emotive Behavior Therapy in the
    feedback on performance is given.                    medical students, residents, and early career               Context of Modern Psychological Research
                                                         physicians relative to the general US population.       	https://albertellis.org/rebt-therapy-in-the-
    Meaning: if people in the                            Academic Medicine. 2014 Mar 1;89(3):443-51.                 context-of-modern-psychological-research/
    organization feel a sense of meaning              5.	Shanafelt, T., Ripp, J., & Trockel, M. (2020).             Accessed September 18, 2020
    and purpose.                                         Understanding and addressing sources of                 15.	Navy Bureau of Medicine and Surgery. (n.d.)
                                                         anxiety among health care professionals during              Combat Tactical Breathing. https://www.med.
CONCLUSION                                               the COVID-19 pandemic. JAMA. 2020;323(21):                  navy.mil/sites/nmcphc/Documents/health-
I have ended virtually all of my talks                   2133-2134. doi:10.1001/jama.2020.5893                       promotion-wellness/psychological-emotional-
in the last two years with a quote                    6.	Galbraith N, Boyda D, McFeeters D, Hassan T.               well-being/Combat-Tactical-Breathing.pdf
from Viktor Frankl, and I will end this                  The mental health of doctors during the Covid-19        16.	Holman, E.A., Garfin D.R., & Silver, R.C. (2014).
commentary in the same way. Frankl,                      pandemic. BJPsych bulletin. 2020 Apr 28:1-4.                Boston Marathon. Boston Marathon Bombings,
the noted psychiatrist, author, and                   7.	Burnout isn’t due to resiliency deficit. It’s still        Media, and Acute Stress. Proceedings of the
Holocaust survivor wrote, “There is                      a system issue. https://www.ama-assn.org/                   National Academy of Sciences. 111(1). 10.1073/
nothing in the world, I venture to say,                  practice-management/physician-health/                       pnas.1316265110
that would so effectively help one to                    burnout-isn-t-due-resiliency-deficit-it-s-still-        17.	Slavin SJ, Schindler DL, Chibnall JT. Medical
survive even the worst conditions as                     system-issue Published July 29, 2020 Accessed               student mental health 3.0: improving student
the knowledge that there is a meaning                    September 17, 2020                                          wellness through curricular changes. Academic
in one’s life. There is much wisdom in                8.	National Academies of Sciences, Engineering,               Medicine. 2014 Apr;89(4):573.
the words of Nietzsche: ‘He who has                      and Medicine. Taking action against clinician           18.	Slavin S. Reflections on a decade leading a
a why to live for can bear almost any                    burnout: a systems approach to professional                 medical student well-being initiative. Academic
how.’”21 Physicians, in the midst of the                 well-being. National Academies Press; 2020 Jan 2            Medicine. 2019 Jun 1;94(6):771-4.
challenges in medicine, need to find that             9.	Beck, J. S. (1995). Cognitive therapy: Basics and      19.	Maslach, C., & Leiter, M. P. (1997). The truth
why, feel that why, and be sustained by                  beyond. New York, NY, USA: Guilford                         about burnout: How organizations cause
that why. But we also have to remember                10.	Dweck CS. Mindset: The new psychology of                  personal stress and what to do about it. San
that we can and must work to change                      success. Random House Digital, Inc.; 2008.                  Francisco, Calif: Jossey-Bass.
the how.                                              11.	West CP, Dyrbye LN, Shanafelt TD. Physician           20.	Pink, Daniel H. Drive: The Surprising Truth
                                                         burnout: contributors, consequences and                     About What Motivates Us. New York, NY :
References                                               solutions. Journal of internal medicine. 2018               Riverhead Books, 2009. Print.
1.	Rotenstein LS, Ramos MA, Torre M, Segal JB,          Jun;283(6):516-29.                                      21. Frankl, Viktor. (2006). Man’s Search for Meaning.
   Peluso MJ, Guille C, Sen S, Mata DA. Prevalence    12.	Hu KS, Chibnall JT, Slavin SJ. Maladaptive                Boston, Mass: Beacon Press.
   of depression, depressive symptoms, and               perfectionism, impostorism, and cognitive
   suicidal ideation among medical students: a           distortions: Threats to the mental health of pre-       DISCLOSURE
   systematic review and meta-analysis. Jama. 2016       clinical medical students. Academic Psychiatry.         None reported.
   Dec 6;316(21):2214-36.                                2019 Aug 15;43(4):381-5.
2.	Mata DA, Ramos MA, Bansal N, Khan R, Guille       13.	Slavin, S. Mental health: “What residents can         Article originally Published in Missouri Medicine
   C, Di Angelantonio E, Sen S. Prevalence of            do before a clinical surge at their institution.”
   depression and depressive symptoms among              ACGME. Accessed on October 28, 2020.
   resident physicians: a systematic review and
   meta-analysis. Jama. 2015 Dec 8;314(22):2373-83.
3.	Shanafelt TD, Boone S, Tan L, Dyrbye LN, Sotile
   W, Satele D, West CP, Sloan J, Oreskovich MR.
   Burnout and satisfaction with work-life balance
                                                                                    Stuart Slavin, MD, MEd, is Senior Scholar for Well-Being, Accreditation Council
   among US physicians relative to the general US
                                                                                    for Graduate Medical Education, Chicago, Illinois.
   population. Archives of internal medicine. 2012
   Oct 8;172(18):1377-85.
4.	Dyrbye LN, West CP, Satele D, Boone S, Tan

utahmed.org                                                                                                                               JUNE | JULY 2021             11
FEATURE

Image licensed by Ingram Image

                                                                         PHYSICIANS:
                                                                         PREPARE
                                                                         BEFORE A
                                                                         MENTAL
                                                                         HEALTH
                                                                         CRISIS
                                                                         PRESS RELEASE FROM THE PHYSICIANS FOUNDATION

                      The Physicians Foundation Releases a Personal Crisis Management Plan to Help Prevent Physician Suicide

T
       he Physicians Foundation has                 “Whether it’s stress, feelings of burnout    “We continuously hear from the loved
       recently launched A Personal                 or another challenge, physicians, just       ones of physicians who died by suicide
       Crisis Management Plan1 to help              like anyone else, should feel comfortable    that it could have been avoided,” said
physicians navigate their mental health             seeking help,” said Gary Price, MD,          Robert Seligson, CEO of The Physicians
needs. As part of the Foundation’s Vital            president of The Physicians Foundation.      Foundation. “We hope this tool gets us one
Signs initiative2, the plan was created             “Our own research found that 58%             step closer in breaking the culture of silence
to help physicians, their colleagues                of physicians reported experiencing          around physician mental health issues—
and their loved ones access and have                feelings of burnout during the pandemic;     helping physicians not be in fear of being
available the coping strategies and                 however, when asked about mental health      judged or losing their right to practice.”
resources needed when navigating a                  support, only 13% of physicians reported
moment of crisis.                                   seeking medical attention.”                  To explore Vital Signs, visit www.
                                                                                                 physiciansfoundation.org/vitalsigns.
This resource was inspired by Angela                The Physicians Foundation’s 2020 Survey      The website is intended for educational
Chen, MD, Loice Swisher, MD, FAAEM,                 of America’s Physicians: COVID-19’s Impact   purposes only. If you need further
and Mary Jane Brown, MD, who                        on Physician Wellbeing4 also found nearly    guidance or are in a crisis, call the
introduced a personal crisis management             1 in 4 physicians knew a physician who       National Suicide Hotline at 1-800-273
tool for residents, like safety plans used          committed or considered suicide. While       TALK (8255) for free 24/7 support.
by psychiatrists in suicidal patients.              physician suicide has been a crisis long
                                                                                                 Endnotes
They found3 nearly 60% of participating             before COVID-19, the pandemic has
residents agreed that the tool would                created a sense of urgency to better         1.  https://physiciansfoundation.org/wp-content/
help them manage a crisis. Nearly a                 support physicians’ mental health                uploads/2021/04/Physicians-Foundation-
                                                                                                     Crisis-Management-Tool-for-Physicians.pdf
third of the participating residents                and wellbeing. This personal crisis          2. https://physiciansfoundation.org/
(31.8%) indicated that they had used                management tool offers physicians and            physician-wellbeing/vitalsigns/
their personal plan within the first three          their loved ones a personalized, step-by-    3. https://escholarship.org/uc/item/1v91z16g
                                                                                                 4. https://physiciansfoundation.org/physician-
months of their internship.                         step plan to set themselves up for success        and-patient-surveys/the-physicians-
                                                    in the event of a mental health crisis.           foundation-2020-physician-survey-part-2/

12               JUNE | JULY 2021                                                                                              UTAH PHYSICIAN
                                                                                                                               Still the Greatest Profession.
Knowledge.
Relationships.
Trust.
Confidence.

Wilkins &
Associates
Insurance
Specializes in insurance
needs for Utah professionals
and businesses.

With more than 40 years
of experience, Utah physicians
depend upon our expertise,
knowledge and support

                                 Insurance Coverages Available:
                                 • Medical Professional Liability
                                 • Commercial General Liability
                                 • Business Property
                                 • Workers’ Compensation
                                 • Employee Benefits
                                 • Personal Home & Auto

175 East 6100 South                                               801.268.6834
Murray, Utah 84107                                          wilkinsassoc.com
FEATURE

HOLDING
SPACE
BY LISA WEAVER, MD
ORIGINALLY POSTED ON FAMMEDVITALSIGNS.COM                                                                        Image licensed by Ingram Image

A
         s a family medicine physician,     are in the unique position to gain these      residency, I would often leave these initial
         I have the privilege of            patient’s trust long enough to start          visits feeling frustrated that I did not
         getting to know my patients        chipping away at their concerns and           accomplish anything “medical” during the
across different moments in their           have a positive impact on their health.       visit as I attempted to (not always very)
lives. Sometimes these patients are                                                       patiently listen to their concerns. Each
establishing care with a primary care       As I am over halfway through my               time I saw these patients, I would ask
physician for the first time in their       residency training, I have begun to           myself why they kept coming back to me
adult lives and have multiple concerns. I   establish a panel of such patients, and I     when it felt like we did not make headway
have found that in many of these cases,     have had the opportunity to deepen my         on any of their “real” medical issues.
the patient has been estranged from         relationships with them in this process.
the medical system because they have        Often this includes listening to their        I have found that if I continue to stick
significant trauma histories or even        story and validating their concerns           with these patients and see them
negative experiences directly related to    for the first few visits. Sometimes I         regularly, this will start to pay off as
the healthcare system. There is often       will try to bring up my concern about         we slowly develop a relationship. For
distrust surrounding doctors and the        their high blood pressure or suggest          example, I have a patient that was
entire medical system that has been         a diabetes or cholesterol screen, and         very hesitant to start a hypertension
present long before they walked through     this will be met with varying degrees of      medication because they were concerned
our clinic doors. Primary care doctors      receptivity. I remember in my first year of   about the side effects of starting any

                                                                                                     Continued on page 16…

14         JUNE | JULY 2021                                                                                          UTAH PHYSICIAN
                                                                                                                      Still the Greatest Profession.
Make the Smart Choice with MICA

Why Do Physicians Choose MICA for Their Medical Professional Liability Coverage?
Since 1976, MICA has specialized in medical professional liability insurance. Dedicated to protecting
and defending the practice of medicine, MICA offers our members:

                    • Financial Strength and Longevity   • High-Touch Customer Service
                    • Assertive Claims Defense           • Proactive Risk Mitigation

Contact MICA today to learn more or request a quote. Visit mica-insurance.com/quote or call
602.956.5276.

This policy has exclusions, limitations, and terms under which the policy may be continued in force
or discontinued. For costs and complete detail of coverage, contact MICA or your insurance agent.

                                                           ®
                                                                     Mutual Insurance Company of Arizona®
                                                                     Medical Professional Liability Insurance

© Copyright 2021 by MICA. All rights reserved.                       602.956.5276 | mica-insurance.com
FEATURE

                                                                                                                               Image licensed by Ingram Image

medication and didn’t believe it was         times that he has shown up, he has shared            reminding myself that the best I can do
necessary. After several visits with this    that he hasn’t made it to his appointments           a lot of the time is listen to my patient’s
patient where I learned more about their     because he was recently evicted from his             story, validate their experiences and
history of deep trauma from sexual abuse     home and has been unable to get access               past traumas, and continue to show up
and family abandonment, they trusted         to a cell phone. In “The Hot Spotter” from           and be present. Historically, the medical
that I was invested in their wellbeing and   the New York Journal which discusses                 field has done a poor job of doing this—
were ready to start a medication. After      focusing on patients that are high                   particularly in BIPOC, LGBTQIA+, and
this, we slowly started chipping away at     utilizers of healthcare, Dr. Brenner states          economically disadvantaged individuals.
other medical concerns such as getting       that “The ones you build a relationship              We as healthcare providers are working
a colonoscopy, catching up on vaccines,      with, you can change behavior. Half we               against centuries of oppression, trauma,
and initiating a statin. It took several     can build a relationship. Half we can’t.”            and discrimination, but we are also
months of seeing this patient, but I truly   While it can be frustrating to feel like we          working in a system that continues
believe that most of the healing that took   can’t make progress in some situations, it           to be flawed. Unfortunately, we still
place in that clinic room started with       is important to continue to be present for           often fail at building trust with at-
simply holding space for that patient        these patients when they do show up.                 risk populations, but it is our job as
to share their story and express their                                                            physicians to be persistent and hold
doubts and concerns.                         As I build my practice in residency                  space for the individuals that do grace
                                             and beyond, it is important to keep                  our clinic rooms.
Of course, there are times that my
patients will not be able to establish a
relationship with me, either because
they are looking for something else or                             Dr. Weaver is a University of Utah Family Medicine Resident from Ephrata,
because of other barriers beyond their                             PA. Her medical interests include women’s health, obstetrics, pediatrics, mental
control. I have a patient who has been in                          health, and LGBTQ medicine. During her free time, she enjoys running,
the hospital multiple times this year for                          camping, weight training, playing violin, reading, and baking bread.
alcohol withdrawal and frequently has
not shown up to appointments. On the

16         JUNE | JULY 2021                                                                                                         UTAH PHYSICIAN
                                                                                                                                    Still the Greatest Profession.
FEATURE

                                            PRIOR AUTH
                                            HASSLES CAUSE
                                            TOO MANY CARE
                                            DELAYS
                                            AMA SURVEY RESULTS

Image licensed by Ingram Image

M
          ost physicians know that health    reduce administrative burdens and        • 40% employ staff who exclusively
          insurers’ prior authorization      support rapid patient access to needed     work on tasks associated with prior
          policies delay access to           drugs, tests and treatments,” AMA          authorizations, and
care, often causing serious harm to          President Susan R. Bailey, MD, said
patients. A survey of physicians taken in    in a statement. “By the end of 2020,     • 30% said prior authorizations led to a
December 2020 by the American Medical        as the U.S. health system was strained     serious adverse event for a patient in
Association1 shows just how often prior      with record numbers of new COVID-19        their care.
auth delays occur.                           cases per week, the AMA found that
                                             most physicians were facing strict       The Utah Medical Association has
According to the AMA survey, 94% of          authorization hurdles that delayed       continuously worked to ease the burden
physicians reported delays while waiting     patients’ access to needed care.”        prior authorizations put on physicians
for health plans to authorize necessary                                               and the harm it can cause to patients. If
care, and 79% have had patients abandon      According to the AMA survey,             you have first-hand examples of cases
treatment because of prior auth. In          only 15% of physicians reported          where prior authorization delays caused
addition, 70% of the 1,000 physicians        health plans’ prior authorization        patient harm, please let UMA know.
surveyed said health insurers had            criteria were often or always based
reverted to pre-COVID-19 authorization       on evidence-based medicine.
policies or never relaxed these policies.    Other survey findings include:
“As the COVID-19 pandemic began
in early 2020, some commercial               • 85% said burdens associated with       Reference
health insurers temporarily relaxed            prior authorization were high or       1. https://www.ama-assn.org/system/files/
prior authorization requirements to            extremely high,                            v2021-04/prior-authorization-survey.pdf

18               JUNE | JULY 2021                                                                                    UTAH PHYSICIAN
                                                                                                                      Still the Greatest Profession.
2020 AMA prior authorization (PA)
                                    physician survey

                                                       Patient impact
Care delays associated with PA                                                             Abandoned treatment associated with PA
Q: For those patients whose treatment requires                                             Q: How often do issues related to the PA process
   PA, how often does this process delay access to                                            lead to patients abandoning their recommended
   necessary care?                                                                            course of treatment?

100%                                                                                        100%

                    15%
                                                                                                                 21%
80%                                                                                         80%                                                           Always (3%)
                                                      Always                                                                    79% report that           Often
                    39%                               Often                                                                     PA can at least           Sometimes
60%                                                                                         60%                                 sometimes lead
                                    94% report        Sometimes                                                                                           Rarely
                                                                                                                                to treatment
                                    care delays       Rarely (4%)                                                55%            abandonment               Never (1%)
40%                                                   Never (1%)                            40%                                                           Don’t know (2%)
                                                      Don’t know (1%)
                   40%
20%                                                                                         20%

                                                                                                                 18%
 0%                                                                                           0%

                                                                                                        21%
                                                                                                                        of physicians report that PA has led to a

PA and
                                                                                                                        patient’s hospitalization.

                                                                                                        18%
                                                                                                                        of physicians report that PA has led to a

patient 30% of                                                                                                          life-threatening event or required
                                                                                                                        intervention to prevent permanent
                                                                                                                        impairment or damage.

harm    physicians
                                                                                                            9%
                                                                                                                        of physicians report that PA has led to
                                         report that PA has led to a                                                    a patient’s disability/permanent bodily
                                         serious adverse event for a                                                    damage, congenital anomaly/birth
(See below, Survey question “A.”)        patient in their care.                                                         defect or death.

Clinical validity of PA programs                                                           Impact of PA on clinical outcomes
Q: How often are health plans’ PA criteria based on                                        Q: For those patients whose treatment requires PA,
   evidence-based medicine and/or guidelines from                                             what is your perception of the overall impact of
   national medical specialty societies?                                                      this process on patient clinical outcomes?

                                    Always (2%)
100%
                                    Often
                    13%             Sometimes                                                              9%
80%                                 Rarely
                                    Never (3%)
                                                                                                                                         Somewhat or significant
60%
                   42%              Don’t know
                                                                                                                                         negative impact
                                                                                                                                         No impact
                                    While 98% of health plans
                                    report they use peer-                                                                                Somewhat or significant
40%
                                    reviewed evidence-based                                                                              positive impact (2%)

                   29%              studies when designing                                                        90%
                                    their PA programs,1 32% of
20%
                                    physicians report that PA
                                    criteria are rarely or never

 0%
                     11%            evidence-based                                                                                     Percentages do not sum to 100%
                                                                                                                                       due to rounding.

                                                     © 2021 American Medical Association. All rights reserved.
FEATURE

Image licensed by Ingram Image

REBALANCING-
                                                                                       process. Normally rebalancing occurs
                                                                                       between stocks and fixed income assets;

PORTFOLIO
                                                                                       this rebalancing is especially important
                                                                                       when growth assets like stocks are at, or
                                                                                       near, peaks. When unmonitored stocks

FIXED INCOME
                                                                                       can drift away from the desired target
                                                                                       and expose an investor to additional and

DECISIONS
                                                                                       sometimes unknown risks. Behaviorally,
                                                                                       in the moment, it is challenging to trim
                                                                                       the “winners” and buy the perceived
                                                                                       “losers”. Given this known flaw in human
BY ERIC HALVORSEN, MBA, CFP®, CIMA®                                                    nature it is important to have a pre-
UMA FINANCIAL SERVICES                                                                 determined plan in place so that when

T
                                                                                       the moment arrives, we can confidently
       here has been much discussion         500. Markets, by nature, do fluctuate     act combatting our innate biases. A well-
       in the news recently about new        on a consistent basis and as such it is   built portfolio should have a disciplined
       highs in stock indices like the Dow   always important to be aware of one’s     rebalancing process in place; most
Jones Industrial Average and the S&P         strategic allocation and rebalancing      commonly this consists of allowable

20               JUNE | JULY 2021                                                                               UTAH PHYSICIAN
                                                                                                                Still the Greatest Profession.
FEATURE

tolerance ranges around an asset’s target        pushing their equity allocation higher.       inflation, Fed monetary policy, and the
percentage within a portfolio.                   Each of these changes can materially          like. So, according to this principle, the
                                                 alter the overall risk of an investor’s       possibility of rising interest rates is
The fixed income portion of one’s                portfolio—some of these changes may be        already factored into fixed income prices.
portfolio may appear basic although it is        challenging to see or understand.1
vitally important when controlling the                                                         This is one reason investors should
risk of a strategic allocation. Its role can     So, what’s an investor to do? How can you     view future interest rate movements as
vary according to an investor’s financial        make prudent fixed income decisions           unpredictable. Even the market experts
needs, concerns, and goals. For example,         while also addressing today’s low interest    who have access to vast amounts of
many investors look to fixed income              rates? Consider these principles:             research have a hard time predicting the
for safety, income, and more stability                                                         direction of interest rates.
in their portfolios. They must weigh             REMEMBER HOW
these priorities against their concerns          MARKETS WORK                                  Rather than trying to predict
over future interest rates, inflation,                                                         macroeconomic forces that are difficult to
government debt, and other factors that          The same core investment principles           foresee, investors can look to the market
might affect fixed income returns.               apply in any market environment. One          to set prices and focus on the variables
                                                 key principle is that in a well-functioning   within their control.
Striking this balance can be a challenge in      capital market, securities prices reflect
any market environment, but especially           all available information. Today’s            START WITH A CLEARLY
now, as low interest rates have sent             bond values reflect everything the            DEFINED GOAL
many investors on a quest for higher-            market knows about current economic
yield bonds, alternative investments, or         conditions, growth expectations,              Fixed income choices should follow a broader

             Uncovering
             smarter solutions
             Your liability exposure isn’t limited to clinical care – and
             your insurance coverage shouldn’t be, either. Uncover all your
             potential risks and get comprehensive liability protection. Using
             our predictive data and revolutionary new visual simulation tool,
             you see your whole picture. You’ll know you’re buying exactly
             what you need, making you stronger.

                                                     MagMutual.com | 800-282-4882
FEATURE

investment strategy that defines the role of     primary ways to increase expected yield         helping to control risk. Although selling
fixed income in a portfolio. The portfolio can   and returns on bonds. They can:                 the “winners” to buy the perceived “losers”
then be customized to meet those specific                                                        does not feel great it is an important
goals while managing tradeoffs.                  • Extend the overall maturity of their          part of controlling risk. If you don’t have
                                                   bond portfolio (take more term risk).         one, I’d encourage you to determine a
An investor who seeks to avoid losing                                                            rebalancing strategy. If you’re interested
market value might have a different fixed        • Hold bonds of lower credit quality            in engaging with an investment advisor
income allocation than someone who                 (take more credit risk).                      familiar with the goals and concerns of
needs immediate income or is seeking                                                             Physicians one of our trained UMAFS
higher returns. Investors with different         These may be reasonable actions. But            financial advisors would welcome the
objectives typically have different              pursuing higher income means accepting          opportunity to review your portfolio and
tradeoffs regarding risk, expected return,       more risk, as measured by interest rate         discuss these topics in further detail.
and costs.                                       movements, price volatility, or greater
                                                 odds of losing value if the issuer defaults.    This information is for educational purposes
KNOW WHAT YOU OWN                                Higher yield can also bring potentially         only and should not be considered investment
                                                 higher volatility.                              advice or an offer of any security for sale.
Strive for transparency in a portfolio.                                                          UMAFS is an investment advisor registered
This means understanding an investment           PAY ATTENTION TO COSTS                          with the Securities and Exchange Commission.
manager’s basic strategy and knowing
how the instruments held in the portfolio        Investors typically do not realize that         Investing risks include loss of principal and
might respond in different economic,             investment-related costs determine a            fluctuating value. Fixed income securities are
market, and interest rate scenarios.             large part of a portfolio’s yield and return.   subject to increased loss of principal during
                                                 In a low interest rate environment costs        periods of rising interest rates. Fixed-income
Unfortunately, investors who chase               are important to fixed income securities.       investments are subject to various other risks
performance often make their investment          In fact, research has shown that a bond         including changes in credit quality, liquidity,
decisions based on the past performance          mutual fund’s expense helps explain much        prepayments, and other factors.
and perceived popularity of the strategy.        of its net performance—and funds with the
For example, some of the mutual fund             highest expenses tended to have the lowest      Endnotes
categories experiencing the heaviest             performance within their peer group.2
inflows of cash in the industry are in asset                                                     1. When interest rates rise, the value of an existing
                                                                                                     bond declines; when rates fall, existing bond
groups that have recently experienced            SUMMARY                                             values rise. The market adjusts a bond’s price to
higher than average yields. Higher yields                                                            match the yield available on a new instrument.
are typically accompanied by higher risks.                                                           Investors who hold fixed income securities with
                                                 No one can perfectly predict the speed
                                                                                                     longer maturities are exposed to the amplified
But do investors know what risks their           and magnitude of interest rate changes.             effects of term risk. A long-term bond is more
managers are taking to deliver those             Most investors are best served by building          exposed to rate changes than a short-term
                                                                                                     instrument, and usually (but not always) offers
attractive yields?                               a fixed income strategy to complement               a higher yield to compensate investors for the
                                                 their broader portfolio objectives,                 extra risk. Also, lower-coupon bonds are more
UNDERSTAND THE TRADEOFFS                         understanding the sources of risk, and              affected by interest rate changes than higher-
                                                                                                     coupon bonds. For example, if rates move 1%, a
                                                 paying attention to fees. Pursuing a                bond that pays 3% will experience a greater gain
When reaching for higher yield, investors        defined strategy in a disciplined fashion           or loss than one paying 5%.
should carefully consider the potential          has proven to be a successful way to
                                                                                                 2. The study examined monthly alpha and
effects of their decisions on expected           approach investing. Rebalancing is a                expense ratios for bond funds in the CRSP
portfolio performance and risk. In the           vital risk management tool which will               survivorship-bias-free mutual fund database
fixed income arena, investors have two           assist you and reaching your goals while            from January 1992 to December 2011. Source:
                                                                                                     Dimensional Fund Advisors.

22          JUNE | JULY 2021                                                                                                      UTAH PHYSICIAN
                                                                                                                                  Still the Greatest Profession.
FEATURE

COVID-19 PUBLIC HEALTH
EMERGENCY EXTENDED;
TELEMEDICINE, OTHER WAIVERS
EXTENDED                                       COMPILED BY UMA STAFF FROM SEVERAL SOURCES

The national public health emergency related   including paying the same rate for              physicians who use certain telemedicine
to COVID-19 has been extended to July 20       telemedicine visits as for in-person            platforms in good faith will not be
and likely will be extended throughout 2021,   visits, and allowing use of audio-only          penalized for noncompliance.
according to the federal Health and Human      telemedicine services.
Services (HHS) Department.                                                                     Throughout the pandemic, UMA has called

T
                                               The extension also means private health         on state and federal leaders continuously
        he public health emergency,            insurers’ copayments related to COVID-19        to allow flexibilities and expand
        originally issued in January of last   testing (though not necessarily treatment)      programs to protect practices
        year, has been renewed every 90        and related to any forthcoming vaccinations     financially. Watch for updates in the UMA
days throughout the pandemic. It was           will be waived. The Utah Insurance              MediByte newsletter.
last set to expire April 21 before being       Department website at https://insurance.
                                                                                               References
again extended.                                utah.gov/featured-news/coronavirus
                                               includes the various Utah insurance carriers’   1. https://www.cms.gov/about-cms/emergency-
The current extension allows the Centers       COVID-19 cost-sharing policies.                     preparedness-response-operations/
                                                                                                   current-emergencies/coronavirus-waivers
for Medicare & Medicaid Services (CMS)
to maintain several COVID-19-related           Certain HIPAA enforcement2 actions also         2. https://www.hhs.gov/hipaa/for-professionals/
Medicare waivers and flexibilities1,           will continue to be relaxed. Specifically,          special-topics/hipaa-covid19/index.html

                                                    We want to be your
                                                     Hospice Agency
                                                              Fax Referrals to: (801) 261-5856

                                                                    Serving You and your Patients since 2004

                                                                     HOSPICE HOME HEALTH PRIVATE DUTY
                                                                     www.Heartwood.net Office: (801) 639-5000
You can also read