Employees, Financial and HIPPA Data Create Risk for Medical Practices and Business Owners

HIPAA and financial data present an ongoing asset-protection issue for physicians and medical practices. This week we take a look at a specific exposure suffered by up to 40,000 (yes, 40,000) patients of one Arizona medical practice and some simple precautions that may help your practice avoid the same exposure.  While written for doctors, this […]

Personal Guarantee Insurance for Doctors, Investors, Business Owners

Personal Guarantee Insurance for Doctors (and everyone else) Source: Physicians Practice Non-medical business exposures that threaten doctors’ financial solvency continue to grow in scope and number. This week we take a look a relatively new type of risk-management product: Personal Guarantee (PG) Insurance. We’ve covered both exposure related to residential and commercial real estate debt […]

Medical Practice Liability Insurance Tune Up: The First Line of Defense

We’ve previously detailed both the most common fatal flaws in physicians’ asset-protection planning and the reasons insurance alone is inadequate to protect doctors. Those issues aside, insurance against known and recurring exposures is always the essential first line of defense.   As you’ve seen in this column before, it is unreasonable to think that we […]

What Medical Practices Must Know About RAC Audits and Insurance

 Medical Billing & Collections, Risk Management By Ike Devji, JD   In a series of recent discussions we have examined exposures like ELPI Insurance, cyber liability insurance, and the need for directors and officers coverage by many physicians and practice owners. Continuing our examination of commonly overlooked medical practice risk management issues we turn to […]

Directors and Officers Liability Insurance Issues for Physicians

A commonly overlooked area of risk management in physician’s business and asset-protection planning is the need for “Directors and Officers” coverage, commonly referred to as D&O insurance.   In previous articles we have covered a variety of essential life, disability and liability insurance strategies, always the first line of defense. This week we examine the […]

HIPAA EXPOSURE GETS EVEN MORE ONEROUS – Medical Practice

As we’ve discussed in several previous articles, insurance that covers corporate and executive liabilities in an essential first line of defense, including Data Breach or Cyber Liability Coverage for doctors. This coverage grew even more important on Jan 25, 2013 as DHS provided additional rules and liability for medical practices which go into effect on March […]

Bad Advice Doctors, Business Owners Get from Financial Advisors

As we have discussed here multiple times in the past, the most effective wealth preservation planning has four key components: tax planning, legal planning, investment planning, and insurance planning. Fortunately, more advisors from different disciplines are adopting a more holistic view of their clients and educating themselves in a variety of areas outside their own […]

10 Survival Tips on Asset Protection for Real Estate Investors & Owners

  Real estate management issues fall into several basic categories: debt, liability, and loss. We provide an introduction to these issues to help you get your house in order below. As many business owners and physicians also have investment in real estate outside their business itself, I’ve included issues of wide applicably. Debt The nature of […]

Captives and Physicians: Choosing Jurisdiction and Type

By Ike Devji, JD | August 7, 2012      Physicians are always being promised the holy grail of asset protection, tax savings, and growth. One vehicle often attributed with all these qualities is the captive insurance company (captive). In our last three discussions we introduced three key issues to consider regarding the creation of […]

Is a Captive Insurance Company a Fit for Your Business or Medical Practice?

In our two previous discussions we introduced the general concept of a captive insurance company (captive) as well as specific qualifying questions to help doctors pick a good captive administrator. This week we examine some key issues that can help determine if your specific medical practice is at the point where a captive may create […]