PM3 - Business, Operational and Legal Issues for Practices in Transition: How Owners and Associates Should Plan for Hiring, Joining, Partnering and Managing in a Group Practice Setting
This session will explain the purpose, methods and implementation of extending co-ownership in a practice to an associate doctor, review contracting and provide best practices for recruiting and personnel policies. In addition to ensuring contracts contain not only the basic financial provisions, attendees will learn what it means to be a partner and further understand valuation, compensation and the legal factors involved with practice transitions. This session also will discuss how to address and comply with various federal employment laws that impact personnel actions and office policies, protecting the practice and its owner(s).
Learning Objectives:
At the conclusion of this presentation, participants should be able to:
List what attributes and factors form the basis for offering partnership to an associate and determine if the partner and associate contracts in the practice are comprehensive enough to avoid unnecessary disputes and unpleasant confrontations or litigation stemming from missing or ambiguous provisions.
Discuss key provisions of a practice employee handbook and how to best word the handbook to protect the practice from unanticipated liabilities and obligations while understanding key components of recruiting, negotiating the contract and hiring the candidate.
Identify the elements of practice value that are transferred in a buy-in as well as the key compensation, governance and operational rights and duties that form the core of partnership and the elements involved upon separation of a partner.
Explain how partnership principles of governance, financial performance and practice transitions are applied to typical oral surgery practice agreements to prevent disruption of continuing operations should unexpected or transitional events occur.
Cite the key aspects of various federal laws impacting the duties of a practice owner/administrator in relation to the employment of staff, anti-discrimination, benefits and wages while understanding different employment models.
Demonstrate anticipation of developments in the practice that can lead to contentious relationships and disrupt an otherwise smooth business partnership and understanding of how to ensure contracts are written to meet these challenges.
Review recent developments in personnel and health law and ethics, such as HIPAA, Anti-Kickback Statute, Stark law, licensure, scope of practice and advertising.
