Heat the olive oil in a large skillet over medium heat. Add the sliced sausage and cook until browned, about 5 minutes. Stir occasionally.
Add the chopped onion, bell pepper, and minced garlic to the skillet. Sauté for another 5 minutes until the vegetables are softened.
Stir in the rice, and cook for 2 minutes, allowing it to absorb the flavors.
Pour in the chicken broth, diced tomatoes (with their juice), paprika, oregano, salt, and black pepper. Stir everything together.
Bring the mixture to a boil, then reduce heat to low. Cover the skillet with a lid and simmer for about 20 minutes, or until the rice is cooked and has absorbed most of the liquid.
Remove from heat and let it sit covered for another 5 minutes. Fluff with a fork before serving.
Garnish with fresh parsley if desired and serve hot.