Allocate malpractice insurance cost directly to doctors

Written by Reed Tinsley | October 30, 2007

 

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 the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.

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