First of all I did something quite foolish. I purchased Premiere Elements 15 thinking it was Photoshop Elements 15. I didn't realize it until after I installed the software. It was working fine at that point though, but then I went back out to purchase Photoshop Elements 15 and after installing photoshop now premiere isn't working.
I feel like a fool because I beat myself out of 50 bucks.
[Moved from FAQ, which is not for questions, to regular forum... Mod]
There's no conflict between Premiere Elements and Photoshop Elements, so installing one doesn't cripple the other. In fact, they're designed to work with each other.
Try uninstalling both programs and reinstalling them.