We protect doctors so doctors can protect us.
The United States is the world’s most litigious country, and the medical profession is one of its most susceptible sectors. There are 83 MILLION active cases in state courts at any given moment. Hundreds of thousands of cases are still pending in federal courts and appeals courts.
If you work in the medical field, you should be concerned!
According to one source, 55% of all doctors have been sued at least once, half of those have been sued multiple times, and still, those in high-risk specialties are 99% likely to be sued in the future, while those in low-risk specialties are 75% likely to be sued before their careers are over.
Above-and-Beyond Safeguarding
Yes, you likely do have malpractice insurance…
But what protection does that really afford you?
Answer: not as much as you think.
Yes, you almost certainly do business as an LLC or corporation…
However, you may not be aware that establishing a company organization provides you with no protection against a medical malpractice lawsuit. You must be proactive if you want to safeguard your license and assets against the negative consequences of a malpractice lawsuit. You must go above and beyond what your colleagues physicians are doing, or you will end up with the same results
You must be informed of the restrictions that apply to the National Practitioner’s Data Bank in order to safeguard your license.
You’ll want to start with a property-created business structure to safeguard your assets not just against excessive malpractice verdicts, but also from any responsibility that may arise from any source—visitors to your house, adolescent children driving, or conditions on your rental properties. This is precisely what we do.
You’ll also want to make sure that you take advantage of charging order protection to the fullest extent possible. You’ll need to add specific terms in your operating agreement to obtain all of the benefits of this type of protection.
Power & Protection for Your Practice
Litigants aren’t the only threat to your financial stability. The US government has a right to part of your money as well, although not nearly as much as you may assume. You have a legal right to run your business and affairs in a way that reduces your tax liability. Part of this will come from properly organizing your company. A portion of it will come from investing wisely.
We specialize in safeguarding doctors at Bellvue Rush.