New Jersey Healthcare Corporate and Transactional Lawyers
The Importance of Business Planning in Healthcare
Healthcare providers and facilities play a crucial role in keeping society healthy. However, they are not exempt from the need to operate as a business – one with similar transactional and corporate requirements as any other industry. With numerous regulations governing how healthcare entities provide care and conduct business, their transactions are under immense scrutiny.
While healthcare professionals have a responsibility to provide exceptional care to those who need it, the business side of things cannot be ignored. In today’s healthcare environment, innovation has become increasingly important as providers seek ways to improve patient outcomes.
Striving for profitability is not at odds with the mission to serve; indeed, it can pave the way for expanding the scope of care that providers offer. However, risks come with any advance in this field – evaluations must be made on whether new models are sustainable given various considerations:
– HIPAA compliance
– Liability issues
– Stark regulations and anti-kickback statutes
– Fraud and abuse laws
– State licensing regulations
– Corporate practice of medicine laws
– Requirements set forth by payors
Due Diligence for Lower Risks
Given these risks involved when buying or selling healthcare businesses, due diligence is essential. No organization wants to incur penalties or struggle with regulatory compliance in an already risky environment. Experienced attorneys will also assess whether entities follow Stark laws or comply with fraud and other abuse measures.
General Healthcare Business Agreements
There is an array of agreements required by individual providers working within the context of broader healthcare businesses. These include leases related to real estate or equipment arrangements, relationships created through employment (also affecting independent contractors), or professional service agreements.
The review process will ensure that all regulatory compliances meet the agreed-upon terms under these agreements, necessitating legal expertise that factors in unique fraud-and-abuse measures applicable within this industry sector.
Protecting Your Business Interests
As your partner coordinating legal work supporting your business’s everyday operations, such as acquisitions, reorganizations or dispositions, litigation financing requires sound counsel. Sound advice is often the difference between favorable terms or unpleasant situations where transaction deals fall apart. Ideally, all aspects of legal guidance must be comprehensive from outlining strategies to drafting final agreements and ensuring timely communication.
Comprehensive Legal Counsel from Raiser & Kenniff
Whether your healthcare corporate transaction involves risk assessment, loan negotiation joint venture, compliance issue, or merger process monitoring, a lawyer specializing in Raiser & Kenniff can offer you advice to help advance your interest.
Their New Jersey-based healthcare professionals provide comprehensive legal services that give practical business solutions by:
– Drafting and negotiating agreements related to sale or acquisition
– Negotiating loan agreements for sufficient financing
– Conducting thorough investigations for due diligence
– Assisting in identifying exposures to fraud and abuse schemes
– Assessing Legal Medicare and Medicaid compliance
– Understanding HIPAA regulations
– Knowing ERISA and pharmacy law
– Researching development services to improve care delivery.
Anticipating regulatory trends can prepare providers for how changes may impact care delivery outcomes. The success of healthcare facilities depends on proactive responses that substantially mitigate potential risks.
NEW JERSEY CRIMINAL DEFENSE ATTORNEYS