BLOG: Whack-a-mole continues with health care regulatory 101
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Hopefully you’ve forgiven us for talking so much about tax, although by now you realize why it was so important that we did.
As we discussed in those prior posts, structuring a sale transaction in the most tax efficient manner often leads to a game of whack-a-mole. Well, it’s time we talk about that other “mole” — health care regulatory issues.
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We previewed some of these regulatory issues when telling you to get your house in order. The fact of the matter is that pursuing a sale transaction invariably leads to an army of lawyers, accountants and other advisers doing extensive diligence on your practice and leaving no stone unturned. You can’t blame them — if a buyer is going to invest a large sum of money in your business, the buyer wants to understand the risks. The risks that often matter most — given the nature of running a medical practice — are the health care regulatory risks. Not only are there countless rules and regulations to comply with (some more archaic and confusing than others), but the potential consequences of running afoul of these rules and regulations can often be quite material.
Now this should go without saying, but making sure you are running your practice in a compliant manner is important all of the time. Over the next few posts (yes, we told you this stuff was important), we will be discussing some key health care regulatory issues, regulations and best practices that physician practices need to be aware of, regardless of whether or not you have any intention to sell your practice. And if you are thinking about selling your practice in the near future, it would be wise to ensure that none of the issues discussed in these next regulatory posts are issues that could turn into red flags for the army of advisers that will be doing diligence on your practice as part of any transaction. If you think your practice may have some regulatory issues to sort through, worry not. For almost all of these topics that we are going to address, there are ways to remedy and mitigate noncompliance or other missteps. But the first step is to understand the rules — the coming posts aim to help you do just that.
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