California Medical Association General Counsel and Vice President Francisco J. Silva, Esq., and Matthew L. Kinley, Esq. of Tredway, Lumsdaine & Doyle, LLP, spoke to the Orange County Medical Association on June 7, 2012, about the impact of medical foundations and accountable care organizations.
The wide ranging topics included the legal basis for medical foundations and accountable care organizations, the benefits and burdens of physician employment by such entities, and the contracts and agreements that typically are utilized for such arrangements.
Matt reported that, "Physicians and medical providers who are considering working for an integrated health care model should carefully consider their options before signing on the dotted line. A lawyer with healthcare experience should be retained to help the medical professional through the legal maze presented by such a step."
Some the specific areas that a physician should be concerned with:
Does the culture of the new entity fulfill the needs of the physician group?
How do valuations play a part in the transaction?
What due diligence will take place?
What potential contracts may need to be signed?
What to look for in an employment contract, an asset purchase agreement, or a professional services agreement?
How are physician salaries determined?
The two hour seminar was attended by approximately 50 physicians.