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Common Business Transaction Issues in Healthcare

Business transactions are commonly the cause of litigation for healthcare businesses that are without the support and protection of a healthcare law firm.

Through the provision of correct business structures, best practices, policies, and procedures, a healthcare law firm can ensure that your healthcare business is protected from regulation violations, malpractice issues, and more. This starts with separating out different business transactions that are required for different parts of the practice.

Why Separate Business Transactions in a Healthcare Business?

One of the most common problems that occur in healthcare businesses is declining to implement different business structures as appropriate for different types of transactions made in the business.

An example of a business transaction for a healthcare business is the payment for supplies and services related to the business. Handling creditors is very different from how a healthcare business might pay for marketing services as there are different rules regulating those transactions.

Creating protocols for how to handle creditor payments will emphasize the rights and limitations of creditors as well as identify the responsible party or parties for payment in the business. This is an important point if there are doctors/owners coming in and out of the business, and creditors are paid over months or years.

What Are Other Examples of Business Transactions in Healthcare Businesses?

Healthcare businesses handle a number of transactions throughout the day, and it is important to have protocols in place to increase efficiency. Should there be a disruption to one part of the business, separation of transactions will allow for the continued flow and function of other aspects of the business while the disruption is addressed.

Other examples of business transactions in healthcare businesses, include:

  • Responsibility and protocol for day-to-day front desk operations.
  • Supervision of ongoing client projects, patients, or customer care.
  • Organization of back-end business practice.
  • Overseeing compliance with state, federal, and local regulations.
  • Management of marketing and advertising needs.
  • Troubleshooting and maintenance of software, machinery, and IT issues.

Take the time now to contact Florida Healthcare Law Firm and get started creating a protocol for managing the business transactions in your healthcare business.