Medical Practice Asset Protection: EPLI Insurance

PHYSICIANS PRACTICE - IKE

While this article was originally written for Physicians Practice, it applies to all employers and deals with a very significant asset protection risk, employee lawsuits. Protecting your wealth and your business requires several layers, make sure you understand all of them. – Ike Devji In another discussion on medical practice employee risk I explained covered another […]

Legal Mistakes to Avoid When Selling Medical Practices, Businesses

SELLING PRACTICE

Many doctors and business owners across the U.S. are in the process of working on selling their practices and/or on a succession plan. Here are four common legal issues to watch out for when selling your medical practice, or any other business: 1. Failing to be independently represented Whether buying or selling a practice, it’s […]

Joan Rivers’ Death Puts Liability Spotlight on Outpatient Surgery Centers

ASC LIABILITY ISSUES

Comedienne Joan Rivers went into cardiac arrest while being treated at an ASC, or outpatient surgery center and died a week later after lapsing into a coma. As a result, ASCs are in the media and regulatory spotlight for a variety of legal issues, including doctor referrals, standards of care and how they are run, often not […]

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

BUSINESS AND MEDICAL PRACTICE OWNER LAIBILITY

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 […]

Medical Marijuana: Legal Issues for Physicians

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Nearly two dozen states now allow the legal use of medical marijuana. Given the growing mainstream acceptance of the drug as a potential natural alternative for a variety of pharmaceuticals, physicians are more apt to get questions about it than ever before. Today we take a first look at a variety of legal issues and common questions […]

Drug-Based Treatment Liability Issues for Physicians

DRUG LIABILITY

A variety of medical specialties use drug-based treatments administered by the  physician’s office as a routine part of their treatment regimes. This usage presents expanding serious liability issues that require serious consideration  and risk management. The use of specialty-compounded drugs to treat a variety of ailments is on the rise (one recent report says they […]

Doctors Lack Key Financial Planning Info

law and money for doctors

Recently, I read a 48-page report issued by AMA Insurance on financial preparedness among  physicians, based on 2,500 respondents. Consensus: Many doctors feel  they are under-planned and undereducated about personal finance issues. The good news? We’ve already covered and continue to address many of these issues for you here and at www.PhysiciansPractice.com, where this article […]

Asset Protection Trust Jurisdictions for Physicians – Part 1, Domestic

law and money for doctors

In our discussion two weeks ago we introduced the Asset Protection Trust (or APT) as a tool and answered some of the most frequently asked questions regarding what it is and how it differs from the estate-planning trust many doctors already have in place. We continue our discussion of the APT this week and examine […]

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

law and money for doctors

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

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 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 […]