By Ike Devji, J.D. September starts the annual income tax fraud sales season. As doctors are aggressively pursued with a variety of tax savings plans that make big promises, knowing what you are buying and who you are dealing with is vital. Many physicians and business owners will be solicited to engage in some kind […]
Protect Your Business or Medical Practice From Internal Fraud
Business and medical practice owners and managers must be aware of internal fraud and embezzlement that often capitalizes on recurring year-end cycles in revenue, spending and inventory and a lack of regular oversight. I covered some of the external fraud scheme you face at year-end in another discussion including a detailed look at invoice fraud. While I provided […]
Employment Manuals Commonly Overlooked in Asset Protection Plans
Medical practices and other businesses of all types face many types of risk outside the strict scope of their professional liability. One major lawsuit risk to business owners and doctors is employment-related lawsuits that must be mitigated with a professionally drafted employment manual. I continually stress that a good asset protection plan has many layers, including management of all reasonably anticipatable risks. […]
Asset-Protection Basics You Must Understand in 2015
Here are some key conceptual issues about Asset Protection doctors and business owners should understand as we go into a new year: 1. The best medicine, just as in your profession, is prevention, not treatment. Timing is always a key concept from a legal perspective; you may be legally unable to act (fraudulent conveyance, voidable […]
How To Document Property Damage Claims at Your Business or Medical Practice: Asset Protection
As we’ve seen across the United States over the last year, severe weather, disasters and even intentional acts of vandalism can cause financially devastsing property damage. Below are tips on how to document and pursue claims with your insurance company to enforce your rights under your property and casualty policy. • Step One: Actually having […]
Lawsuits Against Doctors Are For More Than Just Medical Care Delivered
Getting back to the asset protection roots of our discussions, today we examine a variety of liabilities for doctors that are not strictly related to the “standard of care” at the center of most malpractice claims. If you joined us last week, we discussed so-called “defensive medicine” and the idea that limiting diagnostics based on […]
Income Tax Deductions Doctors and Business Owners Often Overlook
As tax day bears down on us with increasing momentum, I turned to a CPA for some tips on commonly overlooked deductions. As always, legal and tax advice given in this forum can only be general information and can never be considered individual tax advice, so discuss these issues with your own CPA now, while […]
Asset Protection and Wealth Preservation Attorney and Author to Speak on in Maui, November 21st, 2013
FOR IMMEDIATE RELEASE: Maui, HI. November 17, 2013. Asset Protection Attorney Ike Devji will be the featured guest speaker at a November 21st, 2013 educational seminar for doctors, business owners and other high net worth individuals sponsored by Ronsman & Associates, a wealth advisory firm serving specially qualified clients in Hawaii, Arizona and Alaska. […]
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 […]
Drug-Based Treatment Liability Issues for Physicians
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 […]
