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Prepping Your Dental Practice for Sale

by admin on June 10, 2020 No comments

dental practice sales transactionBy: Chase Howard

Thinking About Selling Your Practice? Preparation is key and the difference between a successful sale and seller’s regret.

Step 1: Call Your Financial Planner

  • Be sure that you can afford to leave the business
  • Most buyers will require a comprehensive non-compete and you should be certain that you are financially prepared to retire, sell, or move before signing any restrictions.
  • You will also want to ensure that you are planning for the income you are about to receive. Are there vehicles in place or options that are best to ensure the purchase price is put to its best use for you.
  • Consider post sale options if not retirement – are you going to be employed by the buyer? Are you selling to an associate and will phase out? Are you just moving and will need to find new employment/open a practice?

Step 2: Visit Your Accountant

  • Your business is only worth as much as can be defined on paper.
  • If a potential buyer cannot make sense of your accounts and assets, you may leave significant value on the table.
  • Get your financial history in order by reviewing tax returns, profit statements, AR reports, and payroll history for prior 3-4 years.
  • Clean up creative bookkeeping – you will have to promise the buyer that your financial statements are true and accurate.
  • Have your accountant help value assets of your business – or use an appraiser if necessary.
  • Discuss company structure – there may be restructuring needs or you may need to transition to a different structure for tax purposes.
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Considering Compliance in Out of Network Physician Owned Specialty Hospitals

by admin on June 9, 2020 No comments

florida healthcare law firm physician owned hospital compliance infoBy: Jacqueline Bain

Out of network physician owned specialty hospitals are unique in that there are less stringent legal requirements on the facility, but patient care obligations remain the same. This means that patient care must be prioritized over profits and all actions taken by the hospital and any physician investor must showcase that order of priority.

Given the amount of scrutiny placed in physician owned specialty hospitals in the past two decades, these facilities are well served to identify and implement a process to remedy compliance concerns. Even when a facility does not submit claims to any Federal health insurance provider and is out of network with all commercial insurance companies, it is still required to follow the laws of the state where it is located.

The best plan for surviving scrutiny in such situations is to have a plan. Proactively seek out applicable laws and regulations, and determine how your hospital will abide by them. Compliance can be tailored to fit your facility.

Overutilization and Self-Referrals

A physician who shares ownership in a hospital may have a financial incentive to refer patients for services if he or she receives a percentage of the revenue generated. Laws including the Federal Stark Law and Anti-Kickback Statute were promulgated to combat unnecessary referrals. A 2003 study by the Department of Health and Human Services concluded that physician-investor referrals to hospitals in which they have an investment interest are similar to those physicians without investment interests. Nevertheless, the fear of overutilization and unnecessary self referral remains at the forefront of the regulators’ minds at both the State and Federal level.

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Attorney Steven Boyne Joins Florida Healthcare Law Firm in Delray Beach, Florida

by admin on June 1, 2020 No comments

florida healthcare law firm managed care attorneyJune 1, 2020 – Florida Healthcare Law Firms adds experienced attorney Steven Boyne to the team to assist with human resource law, corporate and transactional law, as well as telemedicine, healthcare tech and cyber breaches.

Florida Healthcare Law Firm has announced that they have added Steven Boyne to the team. Steven brings over twenty plus years experience working with different types of healthcare entities from Air Ambulances to large healthcare insurance companies, and everything in between. Steven specializes in areas including specific healthcare business human resource issues, telemedicine and HIPAA, strategic disaster planning for healthcare providers, business interruption insurance, health insurance and air ambulances.

“Positioning your healthcare business to be proactive is one of the most important things you can do. Who would have imagined we’d see a global pandemic in our lifetime? Being prepared for ‘interruptions’ help keep your business afloat when disaster strikes, especially when it comes to finances. Steven’s experience in large health insurance companies brings a wealth of knowledge and expertise that will help individual practitioners be just as prepared as the big guys. And, as technology grows in the healthcare industry, Steven is on board to help with his tech expertise,” Florida Healthcare Law Firm COO Autumn Piccolo says. Founder and President, Jeff Cohen, goes on to say that, “We advise many clients on telemedicine and telehealth laws. Steven’s passion for tech is a great addition for current and future clients. His unique firsthand knowledge on cyberbreaches, tech software and security systems is hyper-specific, which will benefit healthcare business owners.

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How can you transform your business to be prepared for future situations like COVID-19?

by admin on March 24, 2020 No comments

setting up your office to work remotely during a crisisJoin Florida Healthcare Law Firm Attorney Chase Howard on our free webinar titled “How can you transform your business to be prepared for future situations like COVID-19?”

Faced with the reality of remote operation, we’ll talk about how your business prepare to thrive in a similar scenario in the future.

  • What to do with remote staff when it comes to contracts, operations and patient privacy.
  • How do Federal regulations impact telework.
  • Could expanded telehealth laws ease the transition to remote care in a future crisis.

Presenter: Chase Howard, Esq. is an Attorney at the Florida Healthcare Law Firm and has focused his legal practice on health law, medical malpractice defense, business law, and contracts. He deploys crucial skills gained through hands-on business experience in the medical tech world to service clientele such as medical spas, medical practices, medical technology businesses, healthcare business entities, physicians, chiropractors, and dentists. Chase’s experience working in University of Miami Health System’s Risk Management Department provided him with a strong understanding of legal compliance in the healthcare world as well as experience in liability assessment, prevention and defense. With his multi-specialty background, Chase’s practice focuses on all aspects of transactional Health Law, MedSpa Start-up and consulting, general business law, and MedTech.

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Webinar | How can you transform your business to be prepared for future situations like COVID-19?

by admin on March 21, 2020 No comments

prepare your business to be fully remote online during a crisis like covid-19Join Florida Healthcare Law Firm Attorney Chase Howard on our free webinar titled “How can you transform your business to be prepared for future situations like COVID-19?”

Faced with the reality of remote operation, we’ll talk about how your business prepare to thrive in a similar scenario in the future.

  • What to do with remote staff when it comes to contracts, operations and patient privacy.
  • How do Federal regulations impact telework.
  • Could expanded telehealth laws ease the transition to remote care in a future crisis.

Presenter: Chase Howard, Esq. is an Attorney at the Florida Healthcare Law Firm and has focused his legal practice on health law, medical malpractice defense, business law, and contracts. He deploys crucial skills gained through hands-on business experience in the medical tech world to service clientele such as medical spas, medical practices, medical technology businesses, healthcare business entities, physicians, chiropractors, and dentists. Chase’s experience working in University of Miami Health System’s Risk Management Department provided him with a strong understanding of legal compliance in the healthcare world as well as experience in liability assessment, prevention and defense. With his multi-specialty background, Chase’s practice focuses on all aspects of transactional Health Law, MedSpa Start-up and consulting, general business law, and MedTech.

Webinar to prepare for future situations like covid-19

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A Telehealth Break for Medicare Patients and Providers

by admin on March 17, 2020 No comments

new medicare laws for telehealth related to corona virusBy: David J. Davidson

Up until now, Medicare has been fairly structured in how telehealth services are reimbursed. Medicare would pay for telehealth services only if certain, very narrow criteria were met. These rules covered the patient, the patient’s location, the provider, the types of services rendered, the telehealth equipment used and the way the services are coded. Those rules can now be relaxed under recent federal legislation.

On March 6, 2020, President Trump signed the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020 into law. That law relaxes the current Medicare criteria, in order to expand the use of telehealth as a resource against COVID-19. Pursuant to this law, the Secretary of HHS has the authority to waive the “site” requirements for telehealth services provided to Medicare beneficiaries who are located in an identified “Emergency Area” during an “Emergency Period.” Since the whole country is currently is experiencing a public health emergency, as declared by both the President and the Secretary of HHS, the Emergency Period and Emergency Area requirements are met on a nation-wide basis.

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Webinar | Boosting Business: Advising Physicians on Third Party Relationships

by admin on March 13, 2020 No comments

boosting business, advising physicians on third party relationshipsThe Florida Healthcare Law Firm is hosting a free webinar for physicians on appropriate third party relationships. With shrinking reimbursement rates, physicians are increasingly turning to alternative methods and innovative physician relationships to increase revenue. However, not every opportunity is compliant with Federal and State kickback laws, which are designed to prevent overutilization of services.

This course aims to help attendees recognize and advise physicians about relationships designed to compensate for more than just patient care, including, but not limited to:

1. White Coat Marketing;

2. Contractual Joint Ventures;

3. Relationships with Pharmaceutical and DME Companies.

It will use recent trends in the market to reinforce its objectives. This free webinar is for physicians and healthcare providers full of valuable information.All you have to do is register here, put it on your calendar and then click on the link emailed to you on March 25th!

Physician relationships of any kind should be approached carefully by a highly qualified healthcare attorney. Nearly every aspect of healthcare is governed by a complex array of regulations and remaining compliant when drafting a contractual relationship of any kind is no easy task.

 

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Starting Healthcare Business: What to Consider

by admin on August 1, 2017 No comments

By: Jeff Cohen

As a healthcare business lawyer, I’ve seen nearly everything entrepreneurs think might be a good idea.  They usually come to me when starting a healthcare business with questions like:

  1. Do you like an LLC better than an Inc., and if so why;
  2. Does the Stark Law (or the Anti-Kickback Statute) allow us to do this?;
  3. Is it ok to allocate ownership and profit distribution differently?;
  4. Will insurers pay for this?; and
  5. WWMT?  (What Would Medicare Think?).

These are great questions.  And they’re off base.  In fact, they’re not only off base. They’re also out of order.  Here’s one for you–

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