Is there a dead wood plan for medical practices in San Diego and throughout California? As experienced attorneys with decades of experience serving San Diego medical practices and physicians, we can tell you that it is vitally important – especially in these changing times – to have an updated “dead wood” strategy within the corporate documents of the practice.
“Dead wood” is not a term that we would choose to describe this common scenario, but one that has been used across time to describe the natural progression of doctors through their medical career. This is about 40+ years of experience providing sound legal counsel and real world advice to our healthcare and medical practice clients. The Watkins Firm can help you to understand the legal path through this complex issue.
“Experienced Doctors that have Paid Their Dues”
What is a “dead wood plan” and how do you begin to plan for this challenging but genuine reality? What we’re discussing here are experienced doctors who have paid their dues and done the work to build and support many San Diego medical practices. They wish to transition into a less active role in delivering medical services, but still have a vested interest in the practice. As younger physicians enter into the practice they are able to access the “brand” of the well-established office, and attach their names to what is a strong and established brand.
While they may be physically doing more procedures or generating more revenue, they are able to do so based upon a proven foundation based upon the reputation of the practice and the hard work of those who have gone before them.
A Legal, Proven Dead Wood Plan for Medical Practices in California
Is there a legal, proven dead wood plan for medical practices in California? How has the Watkins Firm been able to guide practices like yours through these types of discussions for more than 40 years? An effective shareholders’ agreement for San Diego medical practices must clearly address these issues. How will profit be divided between the shareholders in the practice, and how do you provide for the needs of physicians through each stage of their career?
How is the practice going to manage the limited availability of appointments, surgical blocks, recovery and patient treatment rooms and other valuable resources. In addition, maintaining vigilance over healthcare governance and compliance for your organization protects against rapidly changing laws. Federal, state and/or local laws, ordinances and regulations are changing so rapidly and have become so easy to violate. This exposes your practice to liability.
We invite you to a substantive, complimentary conversation. How do you develop and implement a legal, proven dead wood plan for medical practices in California? How can the Watkins Firm help your practice with every aspect of business and the legal and regulatory challenges you face every day? Have you considered (or implemented) a Management Services Organization or MSO to help leverage external investment, improve profitability and increase patient satisfaction and their experience with your practice?
We
invite you to review our podcast Episode 37 – Medical Practice and Healthcare Governance and Compliance as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
Let’s discuss the challenges and opportunities your practice may be experiencing and the contributions the Watkins Firm can make to ensure full regulatory compliance while supporting your present and future success.
