Medical Practice Management
Oct 30

Allocate malpractice insurance cost directly to doctors

Worried that a financial crisis will find its way into your practice? Worried about rising malpractice premiums?

If you practice in a group that doesn’t already allocate malpractices cost directly to individual physicians, begin that discussion with your fellow shareholders or partners. It’s the fairest way. And it eliminates nasty partner disputes over lower-risk partners subsidizing higher-risk colleagues, which will become a large concern if your practice faces a malpractice insurance crisis as seen in much of the country. It will also avoid internal dissent if medical practice net incomes continue to decline.

Is a financial crunch really the time you want to test your group’s cohesiveness?

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →