What are the advantages of a California PC and an MSO for medical practices in San Diego and Southern California? A California Professional Corporation or “PC” is a unique form of business legal entity which protects its owners from liability while providing extended opportunities to invest in a 401(k) or retirement vehicle and deduct important benefits.
The Management Services Organization or MSO serves as a strong compliment to the entity actually providing healthcare services. The MSO can take care of all non-medical business-related issues allowing the practice to focus on exceptional healthcare. The advantages of a California PC and an MSO for medical practices include limited liability, deductible expenses and benefits, reduced overhead and the ability to attract outside investment to support business operations and growth
The California Professional Corporation or PC.
The California PC must be owned by a those with an advanced degree who carry specialized licenses including but not limited to doctors, dentists, engineers, architects, lawyers and certified public accountants. As a medical practice, one of the key issues is malpractice and other sources of liability. The California PC protects each owner from the malpractice or liabilities created by other shareholders due to their own actions or negligence.
This unique form of corporate entity also allows your practice to offer and receive tax deductions for various employment and fringe benefits including:
- Dependent Care
- Health Insurance
- Life Insurance
- Disability Insurance
Management Services Organization or MSO
One way to think of a Management Services Organization or MSO is like an administrator for your business. However, in a California medical practice an administrator can’t do it all. The MSO can handle the business side of the practice including the provision of facilities, contract negotiation, technology and networks, furnishing, coding, billing, compliance, HR, even taxes and collections. MSOs today help to leverage economies of scale and practical market advantages to reduce overhead and increase the patient experience. The combination of a California PC and an MSO for medical practices in San Diego and Southern California is a proven, winning combination.
Learn More About the California PC and an MSO for Medical Practices in San Diego and Southern California
The experienced medical practice and healthcare business attorneys at the Watkins Firm have more than four decades of experience serving the medical practice and healthcare business communities here in San Diego and Southern California. We have advised and represented individual physicians and healthcare practitioners in contract negotiations and issues with large healthcare organizations. We can help your medical or healthcare business with business formation, healthcare corporate governance and compliance and all associated employment and regulatory compliance including physicians contracts.
We create, review and update medical employment agreements and all employment related documents. We work to ensure your new medical practice or healthcare business is compliant with all aspects of the Health Insurance Portability and Accountability Act (HIPAA) and compliant with Occupational Safety and Health Administration (OSHA) regulations as well as all federal, state and local legal and regulatory compliance issues. We represent medical and healthcare business entities in business related litigation and dispute resolution.
If you would like to learn more about the advantages of a California PC and an MSO for medical practices in San Diego and Southern California and how the Watkins Firm can contribute to the success of your medical or healthcare entity we invite you to review our podcast Episode 30 – Management Services Organization or MSOs as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
