What is an Operating Agreement?

An operating agreement is a contract that outlines how a Professional Limited Liability Company (PLLC) will function from its inception. It can diffuse potential disputes between members if the agreement addresses certain areas of concern for the PLLC.  

For example, it may discuss the following areas:

Startup Costs Associated with Opening a Medical Practice

When practitioners are thinking about opening up their own practice, regardless of specialty or field, there are a couple of concepts for them to consider to make sure that it’s a viable option for them.

Upcoming Seminar: The Ethics of Networking for Law Professionals

This September I am co-presenting a seminar at the New York County Lawyers Association and through Lawline at New York Law School with Janet Falk of Falk Communications and Research on the topic “Ethically Strengthen Your Networking Skills.” 

During the presentation, key discussions will include: 

Can “Employed” Practitioners Protect Their Ideas & Inventions?

An employment agreement often includes language that prevents or limits a practitioner from taking ownership of their own intellectual property (IP).  This can include IP such as research, inventions, patents or trademarks. 

Before joining a practice, practitioners should be aware of a few concepts regarding their IP rights. 

Reflections on the 9-Year Anniversary of My Practice

This month, my practice turns nine. Back when I first began, I was not quite sure where the business would lead me — and I am happy to say that the opportunities I have had surpass anything that I could have imagined.

Practitioners: Define and Clarify Your Outside Activity Limitations

When a practitioner joins a new practice, the employer wants the employee to dedicate all of their professional time to the practice. They generally do not want practitioners to engage in outside activities — even though it is on their own time — such as teaching, consulting, expert witness review or providing medical services outside the scope of the practice.

First Job? Protect Your Career By Asking the Right Questions

Practitioners who are close to completing their residency or fellowship often have many questions about their first employment contract and the various clauses within it. I regularly provide educational seminars to residents and fellows at metropolitan hospitals in numerous specialty departments about what to expect when interviewing for that first job and what will be included in the written agreement.

Tele-Health and Compliance: Important Considerations You Need to Consider

Tele-practice is becoming increasingly common. Consultations, as well as tele-health care, are provided via Skype, Zoom or other video-conferencing platforms that preclude the need for geographical proximity between doctor and patient.

For practitioners who choose to utilize this type of treatment, they should be aware of some important considerations:

Ready to Buy a Practice? 3 Guidelines for Practitioners

Practitioners who are ready for the next phase of their career — or eager to hit the ground running — may consider purchasing an existing practice. If you are weighing that option, here are some questions and negotiable points to consider:

Your Malpractice Insurance: Who Owns the Policy?

This past October, MLMIC Insurance Company, one of the largest providers of medical malpractice in New York, became part of Berkshire Hathaway. As a result of becoming a stock company, a sum of money was to be paid out to policyholders who had policies between the years 2013-2016.