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I am a physician and have a busy practice. I want to open a…

I am a physician...

I am a physician and have a busy practice. I want to open a second practice run by a nurse praactitioner in a nearby small town (Texas). I need my MBA brother to help run it and manage it. He will setup a management company to help me setup, partially finance and run that clinic. What kind of consultant can help structure it so it is compatible with Tx laws. I know non physicians can not own medical practices!!

Lawyer's Assistant: Has anything been officially filed? If so, what?

No. just planning

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

If this is possible how much is the expected fee to setup the structure (on paper for filing)?

Lawyer's Assistant: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.

What kind of page would that be

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Answered in 37 minutes by:
12/5/2016
Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,799
Experience: 30 years of corporate, litigation and international law
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Hello, my name is ***** ***** I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for.

The obvious consultant you would need to retain is an attorney. If you will have a management company operating the clinic and/or the office where you practice, that company's activities must be limited to the business aspects of the practice and not the clinical side. That division would be reflected in the management contract between your office and the other clinic and the management company. In addition, you may want to consult with a person that is familiar with the types of technology available that allow you to visit a patient remotely when the nurse practitioner feels your involvement would be beneficial. Not only might this involve video conferences but there may be potential new useful technology that is available of which you might find use.

The cost of structuring the practice will depend on your vision. If you want the nurse practitioner to own an equity interest in the clinic then the clinic would have to be a separate entity from your existing practice. There you would be discussing the cost of creating a professional corporation or a partnership. If she was just being paid a salary, then no separate entity would be necessary. The cost of forming the legal entity including all the necessary filing fees might run about $1,000. The management contract between the management company and your medical practice would be more involved and could easily run $3-6,000.

If I have answered all your questions, please highly rate my answer as that is how I receive credit. If you have more questions, please let me know. If the answer was especially helpful you can provide a bonus.

Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,799
Experience: 30 years of corporate, litigation and international law
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Thank you for positively rating my answer. I am glad I could be of help. If you have questions in the future please ask for me Richard - Bizlaw.

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