Asset protection attorney Ike Devji shared tips from nearly two decades of experience providing asset protection planing for physicians on his recent guest appearance on the “Anesthesia Success” video podcast. Hosted by physician financial expert Justin Harvey, who is married to a physician, the podcast covers a variety of financial issues for pain management physicians […]
Headlines Reveal Doctor’s Real World Risks
Those stories, like the others we will examine through the year, help illustrate the value of multi-layer defensive planning that includes compliance, all the right kinds of insurance and protective legal tools. They also show us that the scope of risk physicians face goes far beyond traditional “hands-on” medical malpractice and that asset protection for […]
Doctor’s Defamation Liability on Social Media
Doctors use of social media to promote themselves, their practices, side hustles and a variety of passions and social causes is at an all time high. Being online has its own laws and risks, including various defamation related liabilities. Here are some legal basics all Physicians (a.k.a. #SoMeDocs) need to know before they post. Where […]
Why ALL Business Partnerships Must Have a “Buy-Sell” Agreement
Any business or medical practice with multiple owners must have a funded buy-sell agreement in place to protect the partners and their families from the death or exit of a partner. We look at what should be covered in this essential legal document and what happens when it isn’t complete. What is a “buy-sell” agreement? […]
More Self Defense for Captive Insurance Company Owners
Captive insurance companies may be ticking times bombs of legal and financial liability for their owners. Captive owners must act quickly, be educated about specific risks and be well represented by counsel. I previously provided specific examples of the abusive fact patterns that have drawn the ire of the I.R.S. and a list of red flags […]
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 […]
Negative Publicity: Crisis Management for Businesses, Medical Practices
Issues in the news like the recent Ashley Madison data dump prove how negative publicity related to your practice or the personal activities of any of its owners or employees, can have devastating effects on your professional reputation and financial solvency. Regardless of the cause, every business and medical practice owner and manager should understand some PR crisis […]
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. […]
Crisis Management: Dealing with Bad Press at Your Business
Events beyond your control and outside the scope of your business can cause reputational damage and receive media and public attention that can literally shut your business down. Knowing how to handle such an event should be part of your asset protection plan. A previous article examined the different types of crisis plans required to operate any business, especially one that […]
Legal Mistakes to Avoid When Selling Medical Practices, Businesses
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 […]
