Doctors Going Broke in the News (and Those Who Aren’t )

There has been a great deal of discussion about the current financial state of American doctors in the news and in many online forums frequented by physicians. All problems identified in the article and the subsequent discussions it has spawned are related directly to the general poor state of the economy. Primarily, decreases in compensation; […]

Beyond Pie Charts: Three Vital Year-End Financial Planning Questions for Doctors

The complexity of the current business environment and economy can easily feel overwhelming to many medical professionals. As we’ve discussed in previous articles, asset protection and wealth preservation planning for doctors is not just about litigation and must include a holistic balance of legal, financial, tax, and insurance planning. My work with some of the […]

Four Key Team Members Every Medical Practice Needs

By Ike Devji, J.D. | June 7, 2011 Every medical practice has a variety of specialized team members that handle patient intake, billing, collections, office management, and, of course, the delivery of the actual medical care itself. In the best medical practices this system is continually refined and each member is carefully selected and trained […]

AMA adopts policy on “professionalism in the use of social media”

The American Medical Association recently published a policy on “Professionalism in the Use of Social Media,” in an apparent attempt to address growing concerns about patient confidentiality and privacy in various internet settings.    A great simple summary of the issues involved by attorney Colin J. Zick is available here: http://www.securityprivacyandthelaw.com/2010/11/articles/medical-information/ama-adopts-policy-on-professionalism-in-the-use-of-social-media/#page=1

Two Types of Liability Insurance Your Practice Needs (and likely lacks)

To address two common exposures that are often overlooked and important in protecting your business against a potential lawsuit;  employment practices liability and cyber liability, I turned to insurance expert Aaron Stauss at Gilbert Insurance  for some details on how you can be protected. If you have employees, a website, or your business works with or stores […]

PROFIT RETENTION STRATEGIES FOR MEDICAL PRACTICES –

  IT’S NOT JUST WHAT YOU MAKE; IT’S ALSO WHAT YOU KEEP.  With the economic impact of the new healthcare laws and the President’s final 2011 budget uncertain, practice owners and managers would be well served to focus their attention at this time on profit retention strategies. The thousands of doctors we serve are facing […]

MEDICAL PRACTICE – DISPUTES AMONG PARTNERS CAN BE FATAL TO THE PRACTICE

Basic rules of self defense apply almost perfectly to good legal and financial planning. The best way to avoid losing a lawsuit, for instance, is to never be in one in the first place. The simple article below addresses conflicts between partners and ways to avoid or handle them. We have seen this issue create […]