Are you starting a new healthcare business in San Diego or Southern California? The experienced healthcare and medical business attorneys at the Watkins Firm have more than four decades of experience in the formation of medical, dental, nursing or healthcare entities and supporting them through each phase of operations and growth. Our experienced and skilled attorneys will help you to select and establish the best corporate entity, such as a C Corporation or group of corporations for a healthcare-related business, or a California Professional Corporation and/or a Management Service Organization or MSO for medical practices. We custom tailor corporate documents from our extensive, proven library that position your new entity or entities for prosperity.
Corporate Entities for Healthcare
California’s Professional Corporation or “PC” provides several advantages to physicians groups and medical professionals. A California Professional Corporation provides extensive protections that are not available under an LLC, S-Corporation or C-Corporation. For example, the actual legal structure of a PC ensures that individual practitioners are held separate from one another so that no one is held liable for the malpractice or negligence of another physician or licensed professional. The California PC also offers many valuable benefits such as the ability to increase the amount of contributions to retirement vehicles such as a 401(k) as well as tax deductions unavailable to other corporate structures for health, disability and life insurance as well as dependent care.
A Management Service Organization or MSO
A Management Service Organization or MSO provides the opportunity for combining licensed medical professionals and their associated practice with investment capital and business experts who can increase the quality of supportive services, offices or buildings, IT hardware and software and accounting and tax personnel who remain completely separate from the practice of medicine while contributing to the profitability of the entities while improving the patient experience and satisfaction scoring. There are potential risks for licensed professionals, but these exposures can be reduced or mitigated. This is why it is important to review your MSO plans with the experienced medical and healthcare attorneys at the Watkins Firm.
LLC, S Corporation or C Corporation
Starting a new healthcare business in San Diego may be focused on providing medical products, research and services to markets here in the United States and around the world. This may require a single entity or a constellation of entities in order to provide the protections and operational flexibility needed to reach targeted markets. The selection of any entity is based upon the nature of the business it will conduct, while balancing many factors including the ability to conduct inter-state or international business or to hold other corporate entities. The Watkins Firm works closely with tax professionals who provide insight into how income is generated, where and when.
A Variety of Legal Services for Those Starting a New Healthcare Business in San Diego
The Watkins Firm provides a variety of legal services for those starting a new healthcare business in San Diego. You may require employment contracts for physicians, nurses, medical technicians and other employees, as well as extensive policies and procedures and employee handbooks that protect the practice and ensure compliance with all federal, state and local laws including OSHA, HIPPA and Sarbanes-Oxley.
We understand the primary nature of proper coding and insurance documentation and help to establish procedures and practices that prevent fraudulent practices by one of your business partners or an employee.
You may have intellectual property to protect, licensing and distribution agreements, and extensive responsibilities, laws and regulations to fulfill unique to the State of California from the prospective of an employer.
The Watkins Firm has extensive experience across more than four decades with healthcare businesses and the extensive regulatory compliance issues from a national perspective to those unique to California and San Diego. We provide ongoing business general counsel to keep you updated on employment law developments and represent you and your practice in many business related disputes. We know that starting a new healthcare business in San Diego is an exciting time, but it will also require a legal partner with deep experience and legal skill and knowledge in the healthcare industry as well as a common sense approach to business.
We will help to make the process of forming your new healthcare business as easy and straight-forward as possible while providing the insight and supportive legal services you would expect of an experienced healthcare business law firm. We invite you to review our Podcast Episode 7 – Medical Practices and Healthcare Businesses, the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
