When entering into the simplest of business deals with a partner, or group of partners in any corporate structure, such as partnerships, LLCs, shareholders, or corporations, many overlooked issues can arise.
Of particular concern are businesses related to ownership and operation of real estate or other physical assets. In these situations, the consent of only one of the owners is needed to transfer or sell an asset. Although there would exist a private right of action against an owner who engages in self-dealing at the expense of the partnership/corporation/LLC, the transaction may not be able to be set aside if the transferee/purchaser was acting in good faith. Even when fair market value is exchanged, such an action could go against the very purpose of the partnership/corporation/LLC’s intended purpose to begin with.
Physician incentive bonuses are often a way a physician employer can provide a physician employee with a means of enhanced salary based upon the physician employee’s productivity. For a physician employer, if a part of their physician employee’s salary is based on a bonus, the physician employee is more likely to be productive as greater productivity leads to additional compensation. Such arrangements must be carefully scrutinized and structured so they comply with any professional misconduct guidelines, as well as any other regulations that govern compensation arrangements between physicians and healthcare providers.
Any Equipment Agreements or other Business Agreements
a very common clause involving disputes or litigation, can often determine the likelihood between costly, expensive, and excessive litigation or being able to resolve an issue quickly with lower costs and minimal aggravation. This clause is a “legal fees” clause.
In the face of the Affordable Care Act (ACA), and in recent years, the overly aggressive nature of HMOs, insurance companies, and other third-party providers, the concept of dropping insurances has been revisited and is gaining increased popularity with physicians and physician groups. However, there are numerous issues that need to be analyzed and addressed if a physician is going to drop insurance carriers and opt for private pay directly with patients.
The most obvious benefit is that the insurance carrier no longer has their hand in the physician’s pocket and/or increased scrutiny over the physician’s practice. Also, the physician would avoid any unnecessary audits or attempts by the insurance company to call back money. However, there is a very real balance between not only the patient paying out of pocket for services, but the patient becoming more cautious about making appointments. Even routine appointments might seem more of a hassle to a patient if their carrier is not paying for it.
Retirement plans for physicians and other healthcare professionals often carry unusual issues that do not affect regular businesses. This is because medical practices, Article 28s or other healthcare-related businesses have special licensure requirements attached in order for an individual to operate that type of business. These types of healthcare delivery-related businesses carry a number of additional concerns because there are often either approvals required by an oversight body for the new owners (Department of Health) or the healthcare business must be transferred to a very specific licensed professional which does not always permit inter-family transfers to guide a provider’s decision.