1. Look before you leap. CHECK.
2. Measure twice, cut once. CHECK.
3. Document your deal with your partners before commencing joint practice. WHAT?
As simple as it seems, many disputes between physicians, from office sharing deals gone wrong, to full on disputes over the compensation from a practice partnership, occur because no one bothered to work out the details and preserve them in a contact before the deal began.
Yes, only three steps: 1. Plan it out. 2. Memorialize the deal. 3. Do steps 1 and 2 before starting the business of the venture.
“But it takes time!” “But it costs money.” Yes and yes. But the effort and investment involved pale in comparison to the effort and investment you will devote to the dispute that will follow if you don’t make the effort and the investment ahead of time.
Comment or contact me if you’d like to discuss this post.
Mark F. Weiss