What will happen to your hospital contract or to your hospital employment relationship in the event the hospital merges? Will you still be the contract holder? Will you still have a job?
I know. In light of tons of illegal profits, complying with the federal anti-kickback law (“AKS”) is a hard sell.
As healthcare entities become larger they appear as formidable competitors in the marketplace.
Due diligence is more than the investigation after a deal is tentatively made. It’s also important to investigate, up front, the people and entities with whom you’re planning to deal.
We plan our business ventures to succeed and that’s a good thing. But at the same time, or at least for more than just a few moments, you should also think about planning for failure. Not of your business, but of the hospital to which it’s linked. The idea is to avoid the spread of infection to your business.
Years ago, one of my former partners had a case in which a stock broker built up a huge book of business, only to have his clients “reassigned” to a famous heavy-hitter at the firm that took over the brokerage.
“Psst! Send me some referrals. I can’t pay you directly, so I’ll pay your spouse.”
I’m sure you’ve heard the saying ‘look before you leap’, but have you heard ‘document your deal with your partners before commencing business’?
We tend to hang on too long.
But beyond the harmless totems of the past, the problem is that we often make huge efforts to protect what’s become usual in our greater lives,
Speed kills. I read it on the message board that stretched across the lanes of the highway. (I suppose that reading message boards kills, too, but they aren’t advertising that.)